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Industry Insights

Words of wisdom from our business insurance experts.

What insurance does a commercial real estate agency need to consider?

5 min read
December 4, 2021
What insurance does a commercial real estate agency need to consider?

Is your commercial real estate company prepared for the financial impact of unforeseen risk like allegations of misrepresentation, breach of contract, failure to disclose, or even unclear contractual contingencies?

The real estate industry is already complex, but the commercial real estate industry is steeped in legal liabilities that relate to contracts, city and county governments, zoning, and there are always large transactions and potential commissions at stake.

Don’t leave your commercial real estate business exposed to financial losses and reputational damage. Protect your business with the right insurance policies when you need them most, especially when unexpected allegations are made against your company.

At Fullsteam Insurance we work with small startup commercial real estate companies to large real estate institutions so we can tailor an insurance policy to fit your business and your needs.

Your insurance advisor can personalize your insurance policy based on the location of your business, company size, number of claims previously filed, contract history, and more.  Our priority at Fullsteam is to get your company the best insurance policy with the broadest coverage at the best price. We always aim to help educate business owners and key decision makers about the insurance market. Our team of expert insurance advisors will clear up misconceptions regarding insurance policies, clarify loss mitigation strategies, and identify clear steps on how to set up an insurance program to protect your business. 

What are the most common insurance policies for a commercial real estate company?

General Liability

This policy protects startups from common lawsuits, such as bodily injury, property damage, and advertising injuries. This policy is key if you own or lease your company office property, visit clients, host events, or participate in third party real estate management activities.  

Business Property Insurance

This policy is also known as, commercial property insurance which covers your office space and the belongings within it from damage, fire, vandalism, pipe bursts, or natural disasters.

*Fullsteam Insurance Advisor Tip: Combining general liability and business property insurance into a business owner’s policy can not only save you money, but most small, low-risk startups are eligible for this insurance policy. 

Errors and Omissions

This liability insurance protects your company and workforce against claims made by clients that correlate to the professional service you provide. For example, unsatisfactory work or inadvertent mistakes.

*Fullsteam Insurance Advisor Tip: Mitigate liability by implementing a risk management plan.

  • Stay up to date on fair housing laws and always treat all clients equally, no matter their spending ability. 
  • Keep a paper trail of all client communications. Always document and properly store these types of communications, especially when a challenge may arise. 
  • Always disclose any property flaws. Not doing so can lead to negligence or breaching fiduciary duty. 
  • Maintain all deadlines. Avoid any cancelled agreements by sticking to the appropriate timeline.
  • Do not misrepresent the property. Double check all the information you receive on the property from the seller or landlord. This can be a lawsuit waiting to happen if a seller or landlord makes exaggerated claims on the property. 
  • Do not overpromise a buyer or potential tenant. Do not make assumptions regarding price or stipulations until the seller or landlord has confirmed or agreed. 

Workers’ Compensation

This policy covers medical expenses associated with work injuries. This insurance policy is required by most states, except Texas.

Commercial Auto Policy

Personal auto insurance policies do not include business use coverage for vehicles. Therefore, you could end up paying for an auto accident if it happens during working hours like on your way to a listing appointment for a commercial space. It’s important to know that commercial auto insurance is required for vehicles owned by real estate companies.

*Fullsteam Insurance Advisor Tip: Hired and non-owned auto insurance covers personal vehicles used for business purposes.

Cyber Liability Insurance

Cyber liability insurance can help real estate agents and brokers survive data breaches and cyberattacks experienced by your commercial real estate company.

Fullsteam Insurance can save you time and money by working with our established network of insurance carriers to ensure the best insurance policies with comprehensive coverage at competitive prices. Our Fullsteam Insurance advisors are always one-click away from speaking with you directly, they can break through all the corporate insurance jargon, and tailor an insurance solution that fits your commercial real estate business. Our insurance experts work with you and your team every step of the way by reviewing quotes and negotiating the best terms quickly and efficiently. 

Our streamlined process was built to disrupt traditional insurance brokerages by pairing innovative technology with our expert insurance advisors in an easy and modern way. We have built an insurance platform that serves real estate industry needs, while fostering life-long relationships. Our job is to protect your commercial real estate business today, tomorrow, and for generations to come so you can rest easy. 

Tips from your Fullsteam Advisor

At Fullsteam we understand time is money, especially in the world of commercial real estate. Here are a few tips we always give our clients when they want to begin working with a Fullsteam insurance advisor. 

  1. Gather your workforce details. How many employees do you have? And what are they classified as (full-time, part-time, etc.)?
  2. What is your current average revenue?
  3. Do you have any business partnerships? Who are they?
  4. What is your insurance history? Please itemize any prior claims.
  5. Do you have any commercial lease insurance requirements?

It is also important to note that this information will have an impact on the cost of your business insurance policy. The first step to being proactive and safeguarding your company from risk is by speaking with a Fullsteam insurance expert and understanding how your level of risk can determine your insurance cost. Therefore, at Fullsteam, we always compare quotes, negotiate for the broadest insurance policies that protect businesses from unforeseen risk, and work with reliable insurance carriers to better serve our clients. 


Our team works hard for your business with world-class customer service, cutting-edge technology, and marketing industry knowledge. Discover your trusted source for personalized insurance policies that will shield your business from liability. Get the coverage you need at the price you want with Fullsteam Insurance.

Tyler Crawford
by Tyler Crawford
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