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Are you a deeply experienced real estate agent who has carved out a niche, or an agent who is just getting started in the business? Whatever your situation is, you know that few jobs bring as many rewards as real estate. Your schedule is flexible, allowing you to spend time with your family, and you actually flourish in stressful, time-pressed circumstances. One stressor no one needs, however, is the threat of financial ruin because of a lawsuit. The failure to disclose material facts is a common reason that real estate agents get sued and why you need real estate agent insurance. It doesn’t mean outright fraud; mistakes cause many instances. Here are some examples of why agents get sued.
Failure to disclose material facts
This could be as simple as you forgetting to tell clients that a house had been treated for termite damage. Likewise, if you didn’t tell clients that a murder or suicide occurred in the house in the past couple of years, you could be in trouble. Water damage and mold contamination are other common issues, as are boundary disputes, in which the home or land is smaller than you thought it was.
With real estate agent insurance, you pay perhaps about $600 a year and net savings of potentially many thousands of dollars.
There are many types of Princeton NJ small business insurance that your business needs. However, one type of insurance that your business is legally required to have is workers compensation insurance. These policies protect your business finances in case one of your employees is ever injured on the job.
What These Policies Cover
Typically, an employee can receive workers compensation for their injuries regardless of if it was their fault or the fault of your business. In exchange for accepting these benefits, the employee loses their right to sue your business for fault. If you obtain this type of Princeton NJ small business insurance, your policy will likely cover:
- Any medical expenses incurred by injured employees
- Disability payments for injured workers
- Lost wages for those who are involved in a workplace accident
If one of your employees were to become injured while your business was lacking a workers compensation policy, you could be held financially liable for all of these expenses, which could end up harming the profitability of your operations and your long-term success.
If you do not currently have a workers compensation policy, reach out to your insurance provider as soon as possible. They will help you acquire a policy that is able to meet the specific needs of your business.
When comparing quotes for a car insurance policy, it is important to understand what the policy will cover. There are a few top features that you shouldn’t go without. Always double check that the documents have these coverages listed before examining the price within the quotes.
Bodily Injury/Property Damage Liability
When comparing Tennessee auto insurance quotes, check for bodily injury/property damage liability. This is the amount of coverage you will have in the event of an accident where you are determined to be at fault. The figure covers the injuries of those involved in the crash as well as any property that might have been harmed by your vehicle.
Unlike the bodily injury feature, the medical coverage section is where you’ll find the amount that the insurance company will pay you for your own personal injuries. This also includes any trauma that your passengers incur.
A car accident is not the only way that a vehicle can become damaged. Tennessee auto insurance quotes should include comprehensive coverage so that you can recoup losses from incidences of graffiti or stolen valuables. Should your car experience a disaster, such as a fire or fallen tree, you’ll also be protected.
When comparing auto insurance quotes, first check that the proposed policy has comprehensive coverage for medical costs, bodily injury, and property damage. Only then should you consider other factors.