Vicarious liability can seem like a threatening term, especially in the real estate industry. Working in real estate comes with plenty of risks, and if one of the agents in your firm is sued for their actions, the firm could be held liable. The firm could be found responsible for actions committed by employees, agents you conduct business with, and even independent contractors. Though this may seem unlikely, there are many instances you could be unprepared for. Many agencies deal in wholesale real estate liability insurance, so they can find you the best products for a price your firm is willing to pay.
With the right liability insurance, your firm’s employees can work without worrying about potential mistakes. Different areas of coverage can assist in different circumstances. For example, if someone at your firm accidentally causes property damage, general liability insurance should cover court costs. Workers compensation insurance can cover injuries that occur at the work place, and errors and omissions insurance can cover mistakes you make in your daily business operations. The right agent should ask questions about your firm and how you conduct business in order to accurately assess your risks, so you can get the right wholesale real estate liability insurance products your company needs to operate with confidence.