Real estate agents can face challenges brought about by their clients’ displeasure. Whether the clients’ claims or complaints have basis or not, real estate agents are subjected to answer or respond to them. When a real estate agent is not prepared or does not have an insurance policy, it’s going to be a problem for them financially.
Who can help?
Luckily, there are organizations out there that are willing to help. REAPI (Real Estate Agents Professional Indemnity) is an organization who is able to help real estate agents when they are faced with this kind of problem.
What are they offering?
When you acquire a REAPI policy, you’ll get the peace of mind that you need. You’ll be provided with services that can protect you from unanticipated events. What are the features of the policy? Here are a few of them:
• Get insurance for your lost documents – for documents that are lost and can no longer be replaced.
• Fidelity – get protection from your employees who stole your insured money.
• Former principals – provide protection for your former employees.
• Defamation – you have no control over what other people are saying. If you’re accused of having a defamatory character, this feature would surely help you.
• Employment practices liability – has an employee breached a contract? Benefit from this feature.
• Trade practices act – protection from breach of trade practices.
• Subcontracts – covers your liabilities from your subcontractors.
• Full limit property damage – any damage resulting from professional activity conducted will be covered.
Got a question?
If you’re new to the real estate industry, you’d want to find answers. Learning about this insurance could help you be smart out there. REAPI can answer every question you’ve got regarding professional indemnity insurance.
• Why do you need it? As a professional real estate agent, you’d want to protect yourself from financial losses or damages brought about by a mistake. If you are held liable for this and you have done nothing to neglect your duties, then you’d want some protection and assistance. Professional indemnity can do that for you.
• What does it provide? What are claims? What does it cover? What is cost inclusive? What is run off cover? These are just some of the frequently asked questions about professional indemnity that are answered at REAPI’s website.
Be prepared and smart. Learn what you need in order to survive and protect yourself from the challenges you'll face in real estate industry. Visit REAPI for more information on professional indemnity.
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