As a real estate agent, it is important that you protect yourself against potential lawsuits. One way you can do this is by purchasing EO insurance in New York. Being sued is an expensive and time-consuming affair even if you aren’t guilty, and we live in a litigious society.
Coverage Under Your Firm
Many realtors think they are adequately covered through their firm. There are many things that factor into actual coverage. Many firms buy a million-dollar policy, but this doesn’t mean that individual realtors have access to that full coverage. The limits are shared. The more agents in your firm, the less coverage available per agent.
Buying Your Own Coverage
It is wise to branch out on your own to ensure you are protected. If you are an independent contractor, some insurance providers won’t cover you at all through your firm’s plan. Many firms don’t pay for additional essentials. With your own policy, you can make sure you are adequately safeguarded against liability arising from discrimination, an open house, slip and fall and property damage.
Start researching EO insurance in New York, today. Most policies must be tailored to the individual. Have an idea of your exposures and talk with a seasoned insurance agent. Then, sleep soundly knowing you are covered.