Professional Indemnity Insurance For Letting Agents
This is where professional indemnity insurance for letting agents can help protect your business in many ways. As your business provides a service and works with all manner of clients it is possible that your clients can suffer in many different ways as a result of negligence, errors or an omission. Should they make a claim it can cause damage to your finances and effectively end your business.
PI Insurance For Letting Agents
When a claim is made against you need protection from any costs that may be incurred which is why this cover is ideal for you. We can work with you to find the cover that you need at a cost that suits you and through a simple questionnaire we can assess exactly what you need. You will then be able to pay for any costs associated with defending any claims as well as paying any compensation.
How does it work?
This form of cover is extremely important to your business because this protection can help your business to thrive should you come across any claims made against you. This is not like other insurances as it is based on “Claims Made” and this means that if a third party opts to make a claim against you, it has to be associated to any work carried out during the period of cover. As a letting agent you will be in charge of ensuring that all properties meet the legal requirements and that any work carried out meets the legal standards, of course, errors occur and they can result in clients experiencing losses which they will want to paid back to them. This cover will ensure that you can meet all costs related to defending claims as well as paying compensation.
The features
This cover will provide you with the following features:
- It will provide complete protection for your business ensuring that you can deal with all eventualities
- All claims made are assessed to ensure that they are legitimate before any payment is released
- The policy will cover you for one year
- This is a policy that will become a crucial part of your business each year
- The policy will protect your business financially as all costs will be covered
- This is a “Claims Made” policy which ensures that you are protected should any claims be made relating to the time the cover is in place
- Different amounts of indemnity available to meet the needs of your business
- Costs associated with the loss of documentation are covered
- Court attendance costs will be covered up to an agreed amount
- Payment options to suit you
What are the benefits?
There are many benefits that you can take advantage of with this cover:
- All regulations and legal requirements will be met
- You will be reassured because you know that your business is protected should any claims be made against you
- If the client is awarded damages by the courts or an arbitrator then you will be able to comfortably cover the costs
- Claims can be expensive to defend but even if a claim has no support your legal costs will still be paid for
- You will have access to representation and legal advice if required
