Understanding Real Estate Industry Risks
Real estate businesses operate in a complex environment involving property owners, tenants, contractors, employees, trust accounts, property inspections and professional advice.
This can create a wide range of insurance exposures.
Risk Assist Australia can help real estate businesses review their insurance requirements and arrange an insurance program suited to their activities.
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Real Estate Insurance Solutions
Risk Assist Australia can assist real estate businesses with exploring insurance solutions suited to their operations and individual circumstances. Depending on your business activities, professional responsibilities, assets and contractual obligations, insurance options may include:
- Professional Indemnity
- Public Liability
- Property
- Business Interruption
- Management Liability
- Cyber Insurance
- Crime / Employee Dishonesty
- Commercial Motor
- Office Contents
- Glass
- Tax Audit
- Personal Accident and Illness
- Workers Compensation — where applicable and separately arranged
Key Insurance Considerations for Real Estate Businesses
Real estate businesses face a range of risks, from professional liability and property management to cyber threats and financial exposures. Explore some of the key insurance options available to help protect your agency, its operations and professional services.
Professional Indemnity
Professional Indemnity is particularly relevant to real estate professionals because claims can arise from alleged errors, omissions, negligence or failure to perform professional duties.
Potential scenarios can involve property management, leasing, sales, valuations, advice or alleged failures relating to maintenance and property matters.
Steadfast’s recent real-estate guidance specifically identifies professional indemnity, property and public liability among important insurance considerations for real estate businesses.
Property management risks
Property managers can face claims involving properties under management, including allegations relating to maintenance, inspections, tenant communications and other professional responsibilities.
Your insurance program should reflect the actual services provided by your agency.
Cyber and crime risks
Real estate agencies routinely handle personal information, financial information, identification documents, property records and transaction data.
Cyber and crime-related insurance can therefore be important considerations alongside traditional property and liability covers.
Protecting the agency
A comprehensive real estate insurance program should consider the agency itself as well as the professional services it provides.
Risk Assist Australia can help you review your existing arrangements and identify areas that may require attention.
Whether you operate a boutique agency or a larger property business, talk to us about your real estate insurance requirements.
Ready to discuss your insurance needs?
Get in touch to discuss your insurance requirements. Whether you’re starting a business, reviewing existing cover or expanding operations, our team is here to understand your needs and explore suitable insurance solutions.
Get in Touch Call 02 9622 0018Why Risk Assist Australia
Family Owned & Personal Service
A family-owned brokerage focused on long-term client relationships, providing direct access to experienced insurance professionals.
Western Sydney Based. Australia Wide.
Proudly based in Western Sydney, facilitating insurance placements for clients and risks throughout Australia.
Professional Insurance Advice
We take the time to understand your circumstances and explain the insurance options available to you.
Broad Insurance Solutions
Access to a broad range of general insurance products and solutions across business, commercial and specialist insurance requirements.
Ongoing Support & Claims Assistance
We remain available as your insurance requirements evolve, assisting with policy changes, renewals and claims, including liaison with insurers on your behalf.