Insurance for Real

Estate Agents

    • Instant Professional Indemnity insurance tailored specifically for your business
    • Opportunity to compare and select policies from NZ leading insurers
    • Quick and easy online process, no forms to fill in, get covered in minutes

Insurance for real estate agents

The types of business insurances for real estate agents are designed to provide cover for a range of different risks which may impact your real estate business. Business insurance may provide cover for anything from errors that occur from providing professional advice, causing accidental injury or damage to a third party (when not covered by the ACC) to protecting important business assets like contents and buildings.

Why do Real Estate Agents need it?

No matter how much pride and care you may take in your role as a real estate agent, there is always that exposure to some element of risk. The real estate world is competitive, and you’ve worked hard to build your business and its reputation, the last thing you want is a claim to send it all crashing down.

These are some of the reasons why, as a real estate agent you may need to consider business insurance:

  • To join certain industry boards and become a member, you may be required to hold a certain level of Professional Indemnity insurance*
  • Giving advice you your clients about property and estates could land you in hot water if things don’t follow the expected blueprint!
  • If a client, member of the public or another third-party was to slip, trip or fall for example on your business premises you may be held liable for any injuries caused (when not covered by the ACC)- this is where Public Liability insurance* can help
  • When you’re out on the road visiting and showing clients around, it is important you have some protection in place for things like your laptop, mobile phones etc with Portable Equipment cover*

Did you Know?

Real estate agents providing incorrect or misleading information topped the consumer complaints and inquiries to the Real Estate Agents Authority (REAA).

Insurance for Real Estate Agents

Professional Indemnity

Professional Indemnity insurance is designed to protect your business against legal claims and costs by third parties for damage arising from acts, error, omissions, and breaches in your professional duty. This may include the sale of real estate, poor property management, allegations of misleading or misrepresentation or a breach of statutory rules.

What is covered?

  • Damages and claimant costs awarded against the insured
  • Legal and defence costs
  • Claims investigation costs
  • Inquiry attendance costs
  • Public relations costs

What is NOT covered?

  • Intentional damage
  • Known claims and circumstances
  • Fraud and dishonesty
  • Bodily injury / property damage

Public Liability

This insurance is an essential component of any business’ insurances. It covers your liability to third parties for any property damage and or injury or death arising out of your work where ACC does not respond. Typical claims for Real Estate Agents might include leaving a property unlocked and a theft occurs or by causing damages to a property or its contents during an open home. It is relatively cheap cover for the amount of protection afforded.

What is covered?

  • Compensation for accidental damage to third party property
  • Compensation for personal injury or death to third parties where the ACC does not provide cover
  • Legal and defence costs

What is typically NOT covered?

  • Injury to your employees
  • Damage to your own property
  • Compensation for personal injury whereby cover is provided by the ACC
  • Known claims and circumstances

Protect your business today.

Business Insurance

While your clients are essential to your real estate business, take a moment to think about the other elements that help you close the deal. There are things like the bricks and mortar of your real estate premises (if you own it), your office furniture and equipment, and your vital sales tools like your phone, tablet, laptop etc.

Without them, doing business would be next to impossible, and that’s why it’s important to have some forms of protection in place if an unpredictable challenge were to disrupt your business activities.

Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs (such as fire, storm, theft or even accidental damage). A Business Insurance policy can also cover your portable equipment, and loss of revenue due to business interruption in specified circumstances.

Let’s take a look at these different types of coverages and how they can help your real estate business.

Building*– Covers you for loss and damage to buildings you own, as a result of an insured event, e.g., fire, malicious damage.

Contents*-Cover for loss of or damage to items such as business equipment, stock, plant and machinery, records, fixtures and fittings and furniture belonging to you at the insured location.

Business Interruption*– Business interruption insurance provides cover for the loss of income and increased costs of operating your business caused by a specified insured event (such as property damage or fire). It is also designed to assist your business to recover from an insured event by paying ongoing expenses (such as wages or rent).

Portable Equipment cover*– Covers you for loss and damage to your tools and equipment due to theft, fire and other perils listed in the wording, anywhere in New Zealand.

Cyber Liability

Working as a real estate agent, you will have sensitive and important documentation that you will need to protect from data breaches and other malicious cyber threats. In such an event, cyber insurance can help cover your business in the event of:

• Forensic investigation costs
• Data restoration costs
• Security failure claims
• Public relation costs
• Cyber-extortion costs
• Fines, penalties, and loss due to defamation
• Privacy and intellectual property claims
• Identity theft
• Ransom and extortion

Statutory Liability

With the ever-changing statutory landscape for the Real Estate industry, it is becoming more and more crucial for Real Estate Agents to have protection for any inadvertent breaches of New Zealand statutes. This will cover legal defence costs as well as, in some cases, cover for fines incurred.

Want to know more?

Get your fix on all things business and insurance with our blogs. Perfect reading for in between open houses and inspections!

Understanding insurance-part 2: Professional Indemnity insurance

Ever wanted to understand the nitty gritty of Professional Indemnity insurance? This simple guide breaks down some of the key facts and information, jargon free.

* This information is a general guide only and does not take into account your objectives, financial situation or needs. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording. The information contained on this web page is general only and should not be relied upon as advice.

The provision of the claims examples are for illustrative purposes only and should not be seen as an indication as to how any potential claim will be assessed or accepted. Cover for a claim will depend on the specific circumstances around the loss and would be subject to the terms and conditions of the policy concerned.

Customer Reviews

Rated 4.6/5 for Customer Experience

Need Help?

Visit our Contact Us page, where you can find out how to get in touch with one of our business insurance professionals. 

You can also access quick links to our self-service portal, where you can download your Certificate of Currency, update your payment details, amend your cover and download your policy documents. 


Popular Searches