Business Owner's Policy (BOP)
for Real Estate Professionals

Real estate and title professionals may have a low risk profile, but even the safest work environments still need a backup plan to account for unexpected accidents and unforeseen events. After all, the equipment you rely on to conduct your services and assist your clients could be damaged in a storm or fire. And someone could suffer an injury on your business property. Without proper insurance coverage, each of these incidents could financially strain your small business, as the cost of replacing business equipment or combating lawsuits against your company tend to add up quickly.

To shield your real estate or title business, your best course of action is to have a comprehensive business insurance plan that steps in to cover these expenses. And your low risk profile can help you qualify for a Business Owner's Policy (BOP) — one of the most reliable and broadest policies available. This special policy combines General Liability, which offers protection against third-party physical damages, and Property Insurance, which provides coverage for your business property. Best of all, if your business meets certain criteria, you'll also enjoy the policy's discounted premium. Keep reading to learn more about this bargain coverage and how it benefits your business.

BOP Coverage

Business Owner's Policy: Coverage for Real Estate and Title Companies

Business Owner's Policies for real estate agents, title abstractors, and title agents protect your business from costly third-party liability lawsuits or damage to your business property. If a client or visitor sues your business for an injury they suffered on your premises or damage to their property at the fault of your business, your BOP's General Liability policy will cover the legal funds to defend you. These covered costs can include immediate medical expenses, attorney's fees, settlements, and more, up to the limits of your policy. Meritless lawsuits against your business can still be covered by your policy. That way, you won't have to dip into your business's savings to hire a defense attorney.

Your BOP's Property Insurance portion insures your office essentials against damage, theft, or loss. The policy can cover computers, tablets, smartphones, office equipment, furnishings, and your physical office building from damage or loss due to tornadoes, fires, and burglaries. Your coverage can extend to protect others' property while it is in your custody, which is especially helpful if you rent equipment or lease your office space.

Be sure to talk with one of insureon's real estate specialist agents to learn whether your business is eligible for this comprehensive and reliable coverage.

BOP: Key Details

Real Estate and Title Businesses: Key Details about Your Business Owner's Policy

As the owner of a real estate or title agency, you work hard to grow your business. So why not invest in protecting what you've built? With a Business Owner's Policy, your business has the security it needs to keep growing. Here are the coverage areas you can rely on when you purchase this business protection plan.

Property Claims: Real Estate and Title Agents

Owning a business in the digital age means you probably carry out a large percentage of your work online. From keeping in touch with clients via email to listing new properties on the web, chances are your computer is the portal to your day. So when a fire sets your office ablaze or a thief takes off with your laptops, there's no time to waste in finding new equipment and making repairs.

When you have a BOP, though, you can receive quick compensation for the property damage a covered event caused. Typically, covered claims include damage or loss due to fires, tornadoes, or burglaries. Most policies today offer coverage at the replacement value of your essentials, so that when your business suffers a loss, you can replace laptops, computers, furniture, tablets, smartphones, and office equipment with new items. You can even make requisite repairs to your damaged office building.

If your real estate or title business rents its building or office space, your BOP's Property Insurance can fulfill coverage stipulations in your lease.

Third Party Liability Claims in Your Real Estate Business's BOP

As a business that serves clients on a daily basis and welcomes visitors into its office, your real estate or title company experiences additional exposures to risk. Fortunately, your BOP's General Liability Insurance can help account for accidents third parties might experience on your premises. Say, for example, your receptionist offers a visitor a piping hot cup of coffee, and accidentally spills it on their hand as they reach for it. You could potentially have a lawsuit on your hands if the visitor sues for physical damages. When they do, your General Liability will kick in to fund your legal defense, settlements or judgments, medical expenses, and more.

Advertising your services can also lead to lawsuits, but this portion of your BOP will account for non-physical injury claims, too. So if someone sues your business for copyright or brand infringement, libel, or slander, your policy will cover the court costs up to the limits of your policy.

Business Interruption Insurance for Real Estate and Title Professionals

If a disaster or drawn-out lawsuit keeps your business out of operations, you may be able to receive compensation for the losses you suffer through Business Interruption coverage. This policy is added on to your Property Insurance and can reimburse your business for up to 12 months of income while your operations are halted. That means you'll have the funds to make payroll, pay the utilities, and cover rent while your business gets back on its feet. If you're interested in this coverage, contact an insureon agent to learn more.

Tailored Policies

Tailored Policies for Real Estate & Title Businesses

Our expert insurance agents are happy to help you understand the different coverages and policies that can keep your business safe from uncertainty. If you're ready to begin coverage, complete our all-online application to receive competitive quotes today!

Grab-n-Go Information

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Errors, Omissions, Insurance - The Real Estate Professional's Guide to E&O Coverage
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