No matter what your line of work is, you run the risk of a lawsuit, so, as a realtor, it’s important to keep yourself protected with Pearland TX real estate e&o insurance! At Texas Insurance Agency, we recognize that everyone’s needs are different. As a real estate agent, you operate under your own special terms and conditions. As a result, you need a company that understands this to a tee and can help you receive the coverage you deserve.
Malpractice cases usually arise from nowhere, and though unfair, they are within the client’s right to do so. However, no matter the case, there are still fees that need to be paid for in the event you’re brought to court. These fees can be either eliminated or lowered through the use of Pearland TX real estate e&o insurance.
We can provide you with competitive rates and pricing for various insurance companies out there. More than this, we’ll help match you with someone who can surpass your needs as a whole. Insurance can be confusing, especially with all of the confusing jargon and nobody by your side to help you cut through it. This is what our team of brokers can assist you with. There is no jargon here, only affordable rates and policies that help you get the most out of any policy you choose.
It’s no wonder why we’ve been in operation for so long. Our customer service is insurmountable, and consequently, you’ll be met with rates and policies that you love. Contact our team today to learn more about how our expert team can help you find a policy you love!
What is Pearland TX real estate e&o insurance?
Well, we know what a real estate agent is, but e&o stands for errors and omission. This is a type of malpractice insurance that protects you against claims, judgments, or losses that come from a lawsuit. More than this, it protects you from libel and slander that is unjust or unfair. While clients do hold the right to sue, it doesn’t mean that their claims are just.
Additionally, the chances of a lawsuit against the entire real estate brokerage increases when a real estate agent is sued. Therefore, it is in the company’s best interest to keep themselves protected at all times and in as many ways as possible.
What possible claims can be brought against me?
As a real estate agent, a lot can go wrong. Sometimes lawsuits simply come from a misunderstanding or misconstrual of information. The most common issues that follow a realtor around include:
- Listing a damaged property without informing the client of the damages or flaw
- Failing to provide adequate services and performing your duties in the client’s best interest.
- Inaccurate description of a listing
- Failing to disclose all aspects of security interest to the client
These are only a few of the claims we can name that could potentially get you in a large amount of legal trouble. This list doesn’t even comprise the false claims and allegations clients made on a daily basis.
How does E&O Insurance work?
Once you sign on the dotted line for Pearland TX real estate e&o insurance, you are contractually obligated and tied to an insurer. It is now their duty to help you pay for any lawsuits and other things that may happen while you are on their policy. This remains in effect as long as you pay all of your premiums on time and you are not beyond your policy limit.
The insurer that you sign with is in agreement to help you:
- Find an attorney
- Pay for legal fees within the policy limits
- Cover court judgments
- Provide funds for settlements on the plaintiff’s behalf
- Pay for court, witness testimony, and other costs that come with a lawsuit
However, there are instances where the insurer is not allowed or legally can not help you out. These instances include:
- Fraudulent, malicious acts, or criminal charges
- Class action suits
- Any litigation settled beforehand
- Bodily injury, deaths, or sicknesses
While real estate insurance is not necessary, it is an important aspect of protection you won’t want to miss out on. However, some businesses actually do require you to have the insurance policy on hand. So, make sure you know if you live in a state that does.
Other policies to consider
While E&O insurance is the most preferable and most popular policy to choose from, there are still so many other policies out there that you may find beneficial to you as a real estate agent.
- Business Owners Policy (BOP): A business owner’s policy will combine a general liability policy with commercial insurance policies. This is popular because it offers the two combined into one at a much cheaper rate than purchasing the two policies separately.
- Commercial Auto Insurance: Commercial auto insurance is a great policy for you if you own and operate a work vehicle. This will protect the vehicle from theft, damages, and vandalism.
- Workers Compensation: This is the perfect insurance policy that every business should have on hand, no matter what type of business it is. If one of your employees is injured on the job, this will cover expenses and fees related to their injury. Therefore, the only thing you’re responsible for is making sure they’re okay.
Contact Texas Insurance today!
If you want comprehensive rates and affordable policies, then speak with Texas Insurance agency today. Give our team a call today at 281-398-1010. From there, we can sit down with you and talk about your specific needs and wants as a business.
Then we’ll be able to match you with an insurance agency that meets your needs exactly. There is truly nothing we cant do for you at Texas Insurance. It is our job to help guide you in the right direction so that your business is adequately protected. With Pearland TX real estate e&o insurance at your side, you’ll always be protected from whatever comes your way.
Pearland TX Fun Facts:
- It is the second-fastest-growing city in Texas
- There are two airports in Pearland
- Downtown Houston is only a short drive away from Pearland
- For more fun facts about Pearland Tx, visit our official website.