Protection for you as a real estate agent Insurance for real estate agents

Commercial third-party liability insurance

Coming in direct contact with clients or touring properties can quickly end in accidents – whether a client falls during a showing or property is damaged during a viewing. Commercial third-party liability insurance protects real estate agents from the financial consequences of property damage or personal injury claims that arise while carrying out their professional activities. 

Although this coverage is not required by law for real estate agencies with employees, it is highly recommended in order to defend yourself against third-party claims. Self-employed real estate agents should also insure themselves as they are often held personally liable in liability cases. 

Professional liability insurance

Erroneous advice, incorrect contractual documents or inaccurate valuations can lead to financial loss for clients – and in many cases the real estate agent will be held personally liable. Professional liability insurance protects real estate agents and property managers from financial losses arising from occupational errors or omissions. 

This coverage is particularly important for self-employed real estate agents because they will be directly responsible for paying for financial claims in liability cases. Real estate agencies with employees also benefit from this coverage because it protects them against liability risks. 

Accident insurance and supplemental accident coverage

Whether while showing a property, during a client appointment or in the office – accidents can happen at any time. While statutory accident insurance provides a basic level of coverage for occupational accidents, this coverage is often limited. Supplemental accident insurance enhances this mandatory coverage with higher daily sickness benefits and better benefits for longer absences. 

Real estate agencies with employees are required to have accident insurance for their employees, while supplemental accident insurance provides additional coverage. Self-employed real estate agents should also insure themselves against a loss of income after an accident. 

Daily sickness benefits insurance

Absences due to illness can be extremely costly for real estate agents – whether it’s due to lost commissions or delays in client orders. Daily sickness benefits insurance ensures that you have a regular income stream even for longer work absences. 

This type of insurance is especially important for real estate agencies with employees because the agency needs to ensure that it can continue to pay salaries. Self-employed real estate agents should ensure they have coverage that specifically protects them from financial loss if a claim arises. 

Cyber insurance and services

Real estate agents work every day with sensitive client data, contractual documents and digital real estate platforms. A cyber attack or loss of data can not only disrupt the company’s operations, it can also be extremely costly. Cyber insurance protects against financial loss from hacker attacks, data leaks or attempted fraud and pays for the costs of loss mitigation and data restoration, among other things. 

Commercial legal protection insurance

Contractual disputes, disagreements with clients or legal uncertainties regarding real estate brokerage can be expensive. Commercial legal protection insures real estate agents against financial loss due to attorney fees and the cost of proceedings and helps to assert substantiated claims and defend against unsubstantiated claims. 

Legal protection insurance is particularly valuable for self-employed real estate agents and for real estate agencies with employees who want to protect themselves against unexpected legal risks.

Occupational benefits

As the head of a real estate agency with employees, you are required by law to enroll your employees in a Pillar 2 pension fund as soon as you hire your first employee. There are also attractive additional options for real estate agents with large incomes: 

• Management pensions:  offer greater customization of occupational benefits – and more freedom regarding the investment strategy. AXA has the right solutions for your executives, such as our 1e pension solution and Top Invest.

The following applies to self-employed real estate agents: If you operate your real estate agency as a sole proprietorship, joining a pension fund is voluntary. But if you own a GmbH or an AG and pay yourself a salary, then you are also subject to the Pillar 2 mandatory insurance requirement. 

Private pensions

In addition to occupational retirement solutions,   Pillar 3  individual retirement solutions also play an important role. Pillar 3 makes it possible for real estate agents to save for their retirement. There are two options available: 

• Pillar 3a: A tax-advantaged savings solution with fixed terms until retirement is a particularly smart way to supplement occupational benefits insurance for the self-employed.  
• Pillar 3b: A flexible savings and investment solution without any fixed restrictions that can be adapted to personal financial goals.