Instant Cover for Real Estate Agents and Real Estate Brokers

UrbanX has partnered with upcover to help you find simple, affordable and quality insurance.
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What coverage can I get as a customer of UrbanX through upcover?

upcover offers tailored coverages for all real estate service providers, such as real estate agents and brokers. Four products are available that might suit your needs and protect your activity from different sides:
Professional Indemnity, Public & Product Liability, Cyber Insurance and Management Liability Insurance.

These policies are suitable for Real Estate Services providers working with an organisation or having their own practice. The policy can cover either if working full time, part time or as contractors.
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Professional Indemnity

Most Real Estate Agents required professional indemnity to protect them consequences of giving incorrect professional advice or consulting services to clients

General Liability

Protects you and your business against any liability if someone is injured on your premises or while you are providing your services

Cyber & Privacy Liability

Protects your activity from cyber incident response costs, cyber extortion and ransom payment, cyber crime & more

Director & Officers

Protects executive directors, non-executive directors, Company Secretary or employees involved in the management of the organisation

events covered

Professional Indemnity Insurance for Real Estate Services Providers (Limits up to $5m)

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Breach of duty

You breach your duty of care by  guarantee client had their offer accepted, and taking a deposit for a property while another agent had already sold the property to a friend of the agency for a lesser price then was offered by the original client.

Bad Professional Advice

You provide misleading information about the property's value to a buyer, leading to the property listing at an inflated price, and a long drawn out sale process where the client believes they were not able to maximise their return after promises of an acceptable offer in a promised 4 weeks.

Negligence

Due to the negligence of a new agent, important property inspections were not conducted, resulting in undisclosed structural issues being discovered after the some years of a client's investment property being placed on your agent's rent roll, causing substantial financial burdens for the client in repairs to the property from the tenant.

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FAQs

Commonly asked questions

Why is Professional Indemnity insurance important?

The professional indemnity insurance for real estate agents that upcover offers is of utmost importance for professionals in this field. It provides crucial protection against potential risks and liabilities that can arise during the course of consulting engagements. As real estate agents provide strategic advice, expertise, and recommendations to clients, there is always a possibility of errors, omissions, or professional negligence that could result in financial losses or harm to the client's business.

Having professional indemnity insurance for real estate agents offers several benefits. Firstly, it provides financial security by covering the costs of legal expenses, compensation claims, or settlements in case of any alleged professional misconduct. Secondly, it helps safeguard the real estate agent's professional reputation by demonstrating a commitment to accountability and client protection. Clients often require proof of insurance before engaging the services of a real estate agent, as it instills confidence and reassurance that they are protected in the event of any adverse outcomes.

Furthermore, real estate agents insurance plays a vital role in maintaining the sustainability and longevity of a real estate agent's practice. It acts as a safety net, allowing real estate agents to focus on delivering high-quality services without the constant worry of potential legal disputes or financial repercussions. Ultimately, real estate agents insurance is a valuable investment that offers peace of mind, protects professional interests, and fosters a successful consulting career.Get an instant quote for insurance for real estate agents today here

What is the Public & Products Liability insurance that upcover offers?

The Public & Products Liability Insurance we offer is designed to protect Real Estate Service providers from the unique challenges they face. It provides coverage for any legal liability incurred as a result of third-party injuries or property damage arising from your business operations or from the products your Real Estate Service activity sells or supplies. This means, if someone were to get injured using your product, or if there's an accident at your premises leading to property damage or personal injury, this policy would cover the associated legal and compensation costs. This cover is essential for Real Estate Service providers, providing financial protection and peace of mind, allowing you to focus on growing your business.

What is Cyber & Privacy Liability insurance that upcover offers?

The Cyber & Privacy Liability Insurance we offer is tailored specifically to support Real Estate Service providers in an increasingly digital business landscape. This policy protects against financial losses resulting from cyber incidents such as data breaches, cybercrime, cyber extortion, and more. It also covers expenses related to data and application restoration after a cyber incident. In the event of a security failure causing business interruption, this policy provides coverage for the losses incurred. Given the prevalence of cyber threats and the potentially significant impact they can have on Real Estate Service providers, this cover offers critical protection for your business in the digital age.

What is the Director & Officers insurance that upcover offers?

The Directors & Officers Insurance we offer is designed to safeguard the business and their leadership teams. This policy provides coverage for claims made against directors, officers, and managers of your business. It also extends to protect your company and its subsidiaries against liability claims. Furthermore, this policy includes cover for Employment Practices Liability, which guards your company against claims made by prospective, current, or past employees including unfair dismissal and wrongful terminations. With additional features such as Tax Audit Cover and Comprehensive Crime Cover, this insurance product is specifically designed to provide a robust shield against a range of potential legal and financial threats that could impact your business. By offering protection for your key personnel and business, this policy ensures the business can continue their operations with confidence.

Who is upcover?

upcover is an insurtech that works with the oldest insurance markets and global leaders in insurance innovation. All insurance products are underwritten by ProRisk, CFC etc. Our aim at upcover is to make it super easy for small businesses to buy insurance and be well-informed about their choices.
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