Real Estate Liability Insurance

Real Estate liability insurance is a type of Errors & Omissions policy that covers claims made by clients against a real estate professional. Claims can be brought against real estate agents, brokers, appraisers, lenders and other professionals for errors in their work. These errors can be costly to the client and tend to be costly to defend.

Real estate agents, property owners and managers need to protect themselves if they are sued by current, former, or prospective tenants/client, or related parties. A discrimination lawsuit could be filed for alleged violations of the Fair Housing Act, which could include religious, age, disability, racial and/or sexual discrimination, or harassment. It is important to note that this is different than general liability property coverage for bodily injury, property damage, or personal injury to others.

There has been an increase in suits of this nature, and the costs associated with defending them can be high. A tenant discrimination insurance policy will help to protect property management companies and even property owners from these expenses, and others, depending on your coverage.