Real Estate Errors & Omissions in Indiana
Indiana Real Estate Errors & Omissions Requirements
Whether a run a rental or property management firm in Fort Wayne, a luxury real estate agency in Indianapolis, focus on commercial in South Bend, or manage a residential real estate brokerage in Evansville, quality errors & omissions coverage for your Indiana brokerage is essential for peace of mind. This is especially true in this changing real estate market in Indiana.
While Indiana does not currently require real estate agents or agencies to have errors and omissions insurance, nearby Kentucky does mandate it, and most Indiana real estate franchises require it as well. Independent real estate firms in Indiana should also have a strong policy in place to protect their real estate firm and agents.
How are Indiana Real Estate E&O Policies Different?
The nuances of professional liability insurance for real estate in Indiana can be complex and varied, and each policy differing in coverage and cost. It’s crucial to ensure that the policy you purchase is tailored to your specific needs.
However, not all E&O policies in Indiana provide coverage for common professional liability claims that real estate agents often face. For instance, certain policies may exclude coverage for contingent bodily injury and property damage claims, which can arise from incidents such as a buyer being injured due to undisclosed mold or a client falling while visiting a property.
Other potential coverage limitations include claims related to fair housing or discrimination, agent-owned property, and pollution. As a result, real estate brokers/owners may not realize they lack sufficient coverage until they face a lawsuit. It’s essential to conduct a comprehensive review of your E&O policy to ensure that you are adequately protected.
Insurance for Specialized Real Estate Services in Indiana
More specialized real estate services in Indiana require more specialized E&O coverages. For example, many standard policies may not provide adequate coverage for real estate professionals who are appraisers, sell commercial real estate, focus on property management, flip homes, or who are real estate auctioneers.
Residential real estate firms as well as firms providing these services require tailored Errors & Omissions (E&O) insurance policies to protect against unique risks. You should work with an experienced insurance agency that understands the risks associated with your specific list of real estate services.
Get Indiana E&O Options from FirmSecured
Looking for a tailored E&O coverage for your real estate business in Indiana? Our team goes above and beyond by conducting a thorough review of your current coverage to identify potential gaps and risks.
We work with a wide range of insurance companies to offer you a comprehensive selection of coverage options to choose from. Our goal is to ensure that you have all the information needed to make an informed decision that fits your business’s unique needs and budget.
Whether you prefer to fill out a form or schedule a Google Meet discovery call, our team is available to guide you through the process of securing the right E&O coverage for your Indiana real estate agency.
Ready to Get Started on Indiana Real Estate E&O Options?
FirmSecured is powered by Veritas Risk Management, an independent insurance agency licensed in over 30 states, including Indiana.
Real Estate Firm Cyber Insurance in Indiana
Real estate firms in Indiana are facing increasing concerns about the growing cyber threats
Although some E&O and business owner policies may provide limited cyber coverage, many brokers are recognizing the importance of obtaining a standalone cyber liability policy to safeguard their firms.
Real estate firms in Indiana are particularly vulnerable to third-party wire fraud, highlighting the need for comprehensive cyber liability coverage. We understand the significance of having adequate cyber liability coverage, which is why we have created a Comprehensive Guide to Real Estate Cyber Liability Insurance to help you navigate the risks and select the right coverage for your Indiana firm.
Safeguarding Indiana Real Estate Agencies with GL Insurance
General liability (GL) insurance coverage is purchased by most businesses in Indiana
General liability protects firms against a range of lawsuits and settlements.
If you want to review your General Liability insurance options, simply check that box on our form, and we will guide you through the process of obtaining the appropriate coverage to safeguard your business against potential general liabilities.
