E&O Insurance
E&O policies vary drastically from one insurance carrier to the next and quotes can differ due to policy coverage elements. Most insured don’t realize is that E&O policies are designed to be configured by your insurance agent to match the real estate business services that you provide. These configuration choices have pricing and risk implications that should be discussed prior to renewing a policy. Is your insurance agent making the right decisions and explaining how they impact your protection and cost? It takes a dedicated real estate liability expert to guide you through selecting the right coverages for the right price.
Cyber Liability
Over the last few years new insurance policies have emerged to fill the gap that exist between your Errors and Omissions (E&O) insurance policy and your General Liability policy. These new policies are designed to cover your 1st party losses due to a data breach as well as 3rd party damages from your liability that results from allowing sensitive personal information to be stolen by hackers. Data breaches are happening at an alarming rate with no end in sight. At PBI Group we highly recommend that all real estate agencies secure a cyber liability policy as well as increase your agents cyber awareness through additional training.
General Liability
While General Liability policies are common to all business enterprises, each real estate agency has specific needs and requirements depending on the size and type of the agency. Many franchise organizations specify the insurance requirements of franchisees, but those requirements don’t take into account the specifics of the individual agency. Each General Liability policy is tailored to the specific needs of each client. Whether an agency is conducting residential or commercial sales, managing property or performing appraisals, every agency needs General Liability insurance. We specialize in insurance for real estate professionals so we are able to anticipate and address the insurance needs of every type and size of agency.
