As a real estate agent working in New York, it is usually a good idea to have the appropriate business coverage to meet your needs and keep your company as safe as possible. The key to determining how much insurance you need in Albany or the surrounding areas of Saratoga Springs or Schenectady depends on whether you own the agency or you are working as an agent for another company.

Working for a Company

If you work for an agency, then you will not need as much insurance protection as the owner of an agency. The reason is simple: you have a lower amount of liability than the owner.

Although working for a company means that your policy is limited, you should consider some basic commercial insurance coverage to keep your personal assets as safe as possible. A real estate agent is still responsible for personal actions because the method of managing each agent is based on commissions.

Working Individually

If you own the company or you are working independently, then you may need to take out a larger amount of commercial insurance to protect your business from financial losses. Your level of responsibility and liability increases with the number of risks you may face. Depending on your particular situation and how you run your business, the amount of protection that you need will vary. In most cases, you will want to have a basic coverage plan or additional protection to keep your business from facing financial challenges if a client is injured on the property.

Protecting your reputation and your business requires the right type of policy to keep your company running. To learn more about keeping your business or assets safe, contact us to talk to an independent agent.