Commercial Real Estate Insurance

Commercial Real Estate Insurance

Black Ink Insurance Services provides the best options for real estate agent insurance, but it is important to remember that not all real estate agents handle the same types of property or need the same types of coverage. Real estate insurance needs include insurance for real estate agents who sell residential property as well as those who need commercial real estate insurance.

Covering real estate brokers and agents has been a specialty of Black Ink Insurance Services for many years. Since 1996, Black Ink Insurance Services has been serving brokers and agents who want the very best in Realtor® insurance. Because finding competitively priced insurance for real estate agents is not easy, the team at Black Ink Insurance Services works diligently to locate the best real estate coverage for brokers and agents, no matter what type of property they handle. Black Ink Insurance Services can find the best commercial real estate insurance coverage at the lowest price for real estate agents throughout California.

If you represent buyers or sellers of commercial property, it is important that you have coverage to protect you. Commercial property transactions can involve a great deal of money, so finding proper insurance coverage to ensure that you are not liable for any errors or omissions in your transactions is essential if you want to avoid being held responsible for paying back large sums due to a simple error.

Commercial Real Estate Insurance and Errors and Omissions Insurance

When it comes to quality insurance for Realtors®, there are two types of policies that most real estate agents want: general commercial insurance for liability and errors and omission coverage, also known as E&O insurance. It is important to understand the difference between these two types of polices and what each covers so that you can make a good decision on your Realtors® insurance purchase.

Commercial insurance covers you for general liability that could occur as the result of you owning your business. For example, if you have an office and you employ staff to work there, one of them could trip and fall due to boxes stacked in a hallway. The employee might try to file a personal injury lawsuit against you, so it is important for you to have business liability coverage. The same applies when real estate agent drive your vehicles or their own as part of their employment. It is important to have coverage that protects both the driver and you as the business owner if there is a crash involving an employee of your company.

However, this type of general commercial liability coverage only covers your real estate agents to the extent that any employee or even a visitor to your office might be covered. It does not provide coverage for your real estate agents or you as a result of mishandling a sale or purchase.

In order to have coverage from professional errors, you need Errors and Omission insurance. This type of coverage does much more than a traditional liability policy: it covers you and your employees if one of you makes an error that winds up being costly.

As an example, suppose that one of your realtors failed to submit an offer on a commercial business. In a highly competitive market, the seller might be entertaining several offers. If that omission occurred, it could well cause the buyer to lose the opportunity to purchase the business, and it could cost the seller money if he or she accepted a lower bid because the higher bid was not presented.

In a situation like this, it is very possible that the realtor who made such a mistake, as well as his or her employer, could be sued for damages. Errors and omissions insurance would pay the cost of damages and indemnify the realtor from harm. Without errors and omissions coverage, however, the realtor and possibly the employer if the realtor worked in a firm, or the partner if the agency was a partnership, could be held liable for tremendous costs.

It is crucial that anyone who is thinking of operating a real estate firm purchase errors and omissions coverage to protect him or her from liability for all types of professional errors. E&O insurance provides the peace of mind that real estate agents need in order to function without fear in a competitive and sometimes dangerous real estate market.

Why Black Ink Insurance?

Black Ink Insurance has been providing all types of real estate agents insurance for nearly 20 years, and in order to do that, we have had to build a reputation based on trust. Our company-wide philosophy is that we always put the needs of the Realtor® first. This approach has caused our company to grow and to build goodwill within not only the state of California but the national real estate community as well. We have built and maintained industry-wide relationships with our proven track record of outstanding customer service and professional knowledge of real estate broker insurance.

We always strive to provide our clients with insurance at the lowest cost. However, cost is not the only factor we consider when making a recommendation for insurance for real estate agents. We also consider whether the coverage will meet that particular agent's specific needs.

As a professional insurance agency, we offer the services of our staff as advisors and consultants, offering knowledgeable information, outstanding customer service, and vital risk management information. We incorporate industry changes by staying abreast of the latest developments in the real estate industry and passing this information along to our clients as well as incorporating it into our recommendations for E&O insurance and other forms of coverage for Realtors®.

Contact Black Ink Insurance for more information on how we can help you find the right coverage for yourself or your agency. One of our friendly and professional agents will help you determine the best way to ensure you receive quality coverage at the lowest possible price.

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