Business owner’s policy for real estate businesses

A business owner’s policy protects real estate professionals from third-party liabilities and property damage by combining general liability insurance and property insurance. Since real estate jobs are typically low-risk, your business may qualify for a BOP.

This policy covers common risks including:

• Lawsuits over customer injuries or property damage
• Advertising injuries and copyright infringement
• Damaged business property

Real estate professionals can often save money on business insurance by bundling general liability insurance with commercial property insurance in a business owner’s policy. Businesses that are eligible for a BOP typically:

• Have fewer than 100 employees
• Have a small office or workplace
• Make less than $1 million in annual revenue
• Operate in a low-risk industry
• Need less than 12 months of business interruption insurance

Talk to a licensed Insureon agent to find out if your real estate business qualifies for a BOP.

Real estate agents, commercial landlords, and other real estate professionals work with the public on a regular basis, which means more exposure to risks. A business owner’s policy helps cover third-party lawsuits related to:

• Physical injuries, such as a potential customer tripping during a home tour
• Property damage, such as an agent breaking a valuable item during a home staging

The general liability portion of a business owner's policy protects against advertising injuries. For example, if an employee at your real estate agency makes a false claim about a competitor on social media, this policy could help pay the cost of a lawsuit if your competitor sues. A BOP can help cover lawsuits related to:

• Written defamation (libel)
• Spoken defamation (slander)
• Copyright infringement

The property coverage of a business owner’s policy protects your office, furnishings, and equipment in the event of damage, theft, or loss. A BOP can help pay for business property loss or damage caused by:

• Fire
• Windstorms
• Theft
• Vandalism

While a BOP covers many common real estate risks, it does not provide complete protection. Other insurance policies to consider include:

Commercial auto insurance: This policy covers vehicles owned by your business. It typically pays for accidents and damages related to theft, weather, and vandalism.

Commercial umbrella insurance: Provides additional coverage for liability claims made on general liability, commercial auto, or employer’s liability insurance, once a policy's limit is reached.

Errors and omissions insurance (E&O): Also called professional liability insurance, this policy can cover legal costs of lawsuits related to your business decisions.

Workers’ compensation insurance: Workers' comp is required in almost every state for real estate businesses that have employees. It can cover medical expenses for work injuries.

Lessor's risk only insurance: This policy protects commercial landlords from tenant lawsuits over property damage and injuries.

Building insurance: This policy offers financial protection against property damage for landlords who rent buildings to commercial tenants.

Are you ready to protect your real estate company with a business owner’s policy? Complete Insureon’s easy online application today to compare quotes from top U.S. carriers. Once you find the right policy, you can begin coverage in less than 24 hours.