Estate Agents Insurance
We have many years’ experience which helps us to understand the insurance requirements of Property Professionals.
Business Insurance | Professional Risks Insurance |
Estate Agents Insurance
Why do I need Estate Agents Insurance?
We understand that no matter whether you are offering advice on property acquisition, property rental, or estate management, things can go wrong at any stage of the process.
This is the main reason why insurance for estate and letting agents is essential. With the home-buying process constantly changing, the changes in legislation and the introduction of home information packs there is an increased opportunity for an error to be made.
What does
Estate Agent Insurance cover?
We can arrange insurance for estate agents that can include:
Office Insurance
Office insurance may include cover for structural faults, damage or loss to office furniture and property, plus public and employer liability.
Personal Accident Insurance
Covers both loss of earnings and medical costs which arise from a serious injury sustained at work – up to your chosen level of cover.
Public Liability insurance
If a member of the public is injured or their property damaged while on your premises, you can be held liable. Public liability insurance will protect you financially should you be sued for damages.
Trustee Liability Insurance
Trustee liability insurance is designed to protect the trustees, directors, governors, committee members and officers of a charity, club, association or not-for-profit organisation.
Accidental Damage
This covers any accidental damage made to your customers’ vehicles.
Buildings and Contents Insurance
If you own the premises on which you operate then buildings cover is essential and provides cover for an insured event. Contents coverage is also important and will help protect expensive equipment if a similar insured event occurs. Depending on your business we may also recommend separate stock insurance to cover damage to goods stored on-site for sale.
Business Interruption Insurance
When damage or unforeseen events do occur the financial strain on your business can be significant. Damages caused by fire, flood and even accidental incidents can prove a basis for cover under business interruption insurance, our experts will work with you to understand the most likely risks and provide adequate coverage.
Cyber Insurance
A cyber insurance policy helps pay for financial losses they may incur in the event of a cyberattack or data breach. It can cover costs related to the remediation process, such as paying for the investigation, crisis communication, legal services, and refunds to customers.
Directors’ and Officers’ Insurance
D&O insurance reimburses the defense costs incurred by board members, managers, and employees in defending against claims made by shareholders or third parties for alleged wrongdoing. D&O insurance also covers monetary damages, settlements, and awards resulting from such claims.
Employers’ Liability Insurance (EL insurance)
EL – is a legal requirement if you have any staff, full-time, part-time or contracted. EL insurance protects employers’ from compensation claims from their employees should a claim be made against them for loss or injury at work. Your policy must have a minimum of £5m cover, with £10m being the industry standard.
Intellectual Property Insurance
Intellectual Property Insurance offers protection against alleged infringement by you or a third party of Intellectual Property (IP) rights, including patents, trademarks, copyright and trade secrets.
Legal Expenses
If someone takes legal action against you or your company Legal Expenses cover will support you in the cost of going to court.
Professional Bodies
With property litigation on the rise, there is an increased pressure for estate and letting agents to protect themselves. The property market has been volatile in recent years and since the drop in 2008 there has been a significant increase in the claims being brought against agents in the sales and lettings arena.
There are professional bodies which have rules relating to PI cover including mandatory cover or minimum limits required for their members. The main professional bodies with PI rules are as follows:
Questions?
Ready to protect your scale-up with insurance that matches your ambition? Contact us today to start a conversation. Let’s build a insurance roadmap that powers your growth and reflects your values.
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How we make it possible
We listen, we understand and we advise.
As one of the UK’s fastest growing insurance brokers, Jensten Insurance Brokers, is an award-winning broker with specialist advisers across multiple classes of insurance cover and sectors. Our track record of delivering for clients makes us a leading choice.
We also strive to be an employer of choice, giving our clients access to passionate, talented advisers, and our people an enjoyable and rewarding career.
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Estate Agents Insurance FAQs
Many estate agents have an office and almost all estate agents go out and about to visit clients. If you do you, you need to have estate agents’ Public Liability Insurance.
It covers claims of physical damage against your business. So, if you break something or someone’s injured, you’re covered.
