Real Estate Insurance in Indiana

The real estate industry can be exciting, fast-paced, and on-the-go especially in times when the real estate market is on the rise. This makes it a fun and profitable profession, but at the same time increases the likelihood for insurance claims against real estate professionals. Whether you work in Indianapolis, Fort Wayne, Evansville, or anywhere in between, if you work in Indiana odds are 98+% of real estate professionals invest in various insurance policies to manage their exposure. Below we explain the 3 main types of real estate insurance and how working in Indiana may be different.

There are 3 main types of insurance for real estate:

  • errors and omissions
  • cyber liability
  • general liability insurance

Although errors and omissions insurance is not mandated by Indiana, E&O insurance is often required by another authority such as your real estate franchise or bank partners. Regardless of whether it is actually mandatory, common sense or past experiences often make signing up for errors and omissions insurance in Indiana an obvious choice.

Errors and Omissions Insurance in Indiana

Just as the name would suggest, errors and omissions insurance covers errors and omissions made by real estate professionals working on behalf of a real estate brokerage. Specifically, E&O typically covers situations like not disclosing relevant information about the property, or not showing a property to a prospective buyer to even bodily injury or damage that could happen during a showing. In general terms, broadform E&O policies protect both the brokerages and individual real estate agents if they’re sued by a client because of a mistake they’ve made related to transactions in real estate.

Errors and omissions insurance for real estate often covers defense costs, legal costs, and court costs related to a claim.

Prior Knowledge 1
fraud scam danger theft Insurance for Real Estate

Cyber Liability Insurance for Real Estate in Indiana

Cyber Liability Insurance for real estate is a relatively new type of insurance policy in Indiana that is designed to protect businesses from both 1st and 3rd party risks associated with cyber attacks and fraud. Real Estate professionals are a prime target for these types of attacks, because real estate deals involve complicated, multi-party, high value transactions and sensitive personal data.

First party Cyber Liability policies cover the real estate agent directly and include things like Cyber Extortion, Electronic Transfer Fraud, Deceptive Funds Transfer, and Telephone Tolls, to name a few. Direct coverage is important, but from what we have seen are rarely the reason why real estate professionals decide to purchase cyber liability policies. It’s the 3rd party protection that is usually the consideration, because that coverage would protect the vendor/partner or clients and in real estate deals, this is where the majority of the money is.

General Liability Insurance for Real Estate in Indiana

General Liability Insurance or business liability insurance is a common type of coverage in any industry that protects businesses from claims resulting from normal business operations not specifically related to the real estate industry.

Specifically, General Liability Insurance in Indiana will cover personal and advertising injury, damage to properties that are rented to your business, as well as, bodily injury or medical claims, and other common business liability exposure.

real estate agents at office

Finding the Right Partner

Trust PBI Group for your Real Estate Insurance

Navigating the regulations and designing a comprehensive policy for real estate professionals requires finding a partner with the right knowledge and experience. At PBI Group, we have written over 50,000 real estate E&O policies for thousands of real estate companies throughout the 50 states. For Cyber Liability insurance, a comprehensive plan specifically for real estate professionals doesn’t yet exist and the risks are changing and evolving constantly. PBI Group is committed to researching and working with carriers to create the best plan.

PBI Group is founded on the principles of trust, partnership, fanatical service and, most of all, industry leading E&O coverages. We do what we do because we believe there is a better way to buy professional liability insurance than online portals with cheap premiums and minimalist coverage. When your policy comes up for review, don’t just accept your renewal quote without finding out the benefits that come along with best.

RECOGNIZE ANY OF THESE RESPECTED REAL ESTATE PROFESSIONALS?We Love our Clients!

Doreen Van Ooyen
Century 21 Bradley Realty Inc.

Paul and his team deliver top customer service. PBI Group still has that “personal touch” that we all long for with great customer support, follow-through, and competitive pricing. We will continue to do all of our insurance business with PBI Group because Paul has simplified the E&O insurance renewal process for us and does a great job explaining the changes that occur each year. I highly recommend PBI Group for real estate insurance.

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Mike Deck
ERA Real Estate Links

There were many companies that solicited our business, but only one company that followed up with any consistency, and only one company that answered all of our questions. The fact that you waived the deductible if we could show that the house was inspected and that a home warranty was offered was also somewhat unique. The fact that your bid also happened to be very competitive only made the decision easier. If the same interest level exists in the unlikely event of a claim, then the decision is a win/win.

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Mike Lunsford
Coldwell Banker Lunsford Real Estate

PBI Group once again provided outstanding service during our renewal process. From the application through the actual quote and acceptance, Paul was timely, patient when I was not so timely, and helped alleviate much of the stress that can accompany this annual process. And the quote was great! Thank you.

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Patrick Maloblocki
Coldwell Banker Roth Wehrly Graber

Working with Paul at PBI Group was painless. He alleviates the stress, confusion, and as much of the work as he possibly can. He really can cut to the nuts and bolts, and the pros and cons of the different options. He can put E&O Insurance Coverage into layman’s terms for ease of understanding. I feel he is always trying to find us the best deal, and he has succeeded each year we have used him (over three and counting). Working with PBI Group makes it easy for me to ignore the dozens of other calls from agents each year around renewal time. I highly recommend.

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Susan Falck-Neal
ERA Integrity Real Estate

Once again Paul has gone above and beyond to provide the best quote while still providing superior coverage. As a realtor, I know that service and knowledge make all the difference to my clients. This is why I am comfortable using Paul. He is extremely knowledgeable and he has strong follow-through skills. I would highly recommend him to anyone seeking E&O insurance.”

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Tracy Hutton
CENTURY 21 Scheetz

Paul at PBI Group has been a great real estate E&O insurance partner with us for many years. I am always impressed with the responsiveness, guidance, and help that Paul and his entire team provide. They are a valuable part of our business.

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