Insurance for Property Professionals

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Insurance for property professionals has to be specific. Whether you work with commercial properties or residential properties, you will be working with a wide array of clients as well as dealing with the general public so you need to know that you are insured for every eventuality.

Causing damage to someone’s home during a property viewing or inadequately handling a property sale or letting correctly could have a catastrophic impact on both your business and your reputation as a property professional.


What does insurance for property professionals include?

While you can create your own bespoke insurance package, as standard, insurance for property professionals should include:

1. Professional indemnity insurance

Professional indemnity insurance is a vital part of insurance for property professionals as it will protect you from any claims made against you by clients saying your service to them has been inadequate.

The following professional property bodies recommend estate agents buy professional indemnity insurance:

  • National Association of Estate Agents (NAEA)
  • NAEA Commerical
  • National Association of Valuers and Auctioneers
  • Association of Professional Inventory Providers
  • Association of International Property Professionals
  • Association of Residential Letting Agents
  • Association of Residential Managing Agents

2. Employer’s liability insurance

You need to make sure that you have employer’s liability cover within your insurance for property professionals as it is a legal requirement if you employ at least one person. If an employee gets injured at work, they could sue you for damages.

3. Public liability insurance

Public liability is often an important cover to be included in any  insurance for property professionals, as it can protect you if someone is injured or their property is damaged because of your business activity.

4. Office insurance

Office insurance protects your property business against events such as burglary or fire, which can have a disastrous impact on your finances if you are unable to trade from your office address.

5. Business contents insurance

Business contents insurance is needed to protect your office equipment from theft or damage. It might also include cover for personal items belonging to staff members.