Real Estate Agents & Brokers Malpractice Insurance
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Email, Fax or Mail the signed PDF application to L Squared Insurance Agency
Email: Info@L2InsuranceAgency.com
Fax: (616) 940-1196
Mail: L Squared Insurance Agency
2430 Camelot Ct SE
Grand Rapids, MI 49546
Real Estate Agents & Brokers Malpractice Insurance Information
As a real estate professional, your expertise is crucial in high-value transactions. This responsibility exposes you to significant risks and liabilities. Despite your diligence and experience, even a minor error or oversight can result in severe financial consequences. Therefore, it’s essential to safeguard yourself with comprehensive professional malpractice insurance designed for real estate agents and brokers.
What Does Real Estate Agents & Brokers Malpractice Insurance Cover?
As its name suggests, real estate agents & broker malpractice insurance is a type of coverage focused on protecting you and your firm from malpractice claims. This coverage can include:
- Agent-Owned Property Coverages
- Open House and Lock Box to Full Policy Limits
- Deductible Reduction for ADR and Risk Management
- Environmental Hazards to Full Policy Limits
- Innocent Insured Coverage
- Risk Management Hotline for Pre-Claim Assistance
- Contingent BI/PD Coverage
- Free ERP for Death, Disability or Retirement
- Fair Housing/Discrimination
- Fraudulent Funds Transfer
- Nonprofit D&O
- Drone Photography
- Board Proceeding Defense
- Subpoena Expense
- Electronic Information/Third Party Privacy Notification
- Professional Reputation Protection
What Other Types of Insurance Do Real Estate Agents & Brokers Need?
- Business Owners Policy
- Workers Compensation
- Cyber Liability
- Directors & Officers
- Employment Practices Liability
How Much Does Real Estate Agents & Brokers Malpractice Insurance Cost?
Before providing real estate agents & brokers with accurate quotes for adequate coverage, insurance companies must thoroughly assess unique circumstances. In most cases, the following criteria may be considered:
- Location
- Size of the firm (e.g., number of agents being insured)
- Types of real estate sold
- Claims history
- Time in business
- Annual revenue
- Scope of services provided (e.g., property management, commercial leasing)
- Geographic scope of operations (local, regional, national)
- Employee hiring and training practices
- Risk management practices in place
- Compliance with industry regulations and standards
Get the Right Coverage
As a lawyer, even small details of your work can have significant ramifications. Even if allegations of legal malpractice are untrue, the requirements of defending yourself could have catastrophic consequences for your finances and future.
We’re here to help. At L Squared Insurance, our agents have the experience and expertise to help lawyers and their firms assess and address their coverage needs with optimal policies.