Exploring hidden risks for real estate agents: why business insurance matters

The spring real estate season is in full swing.

Optimistic sellers are hoping to strike it rich, and savvy buyers are looking for a property deal.

And you’re in the middle, ready to facilitate contracts that make both parties happy.

Your real estate agency is humming along nicely, and the last thing you need is an unplanned interruption that derails business as usual and empties your wallet.

Professional indemnity and public liability policies help real estate agents manage specific risks to their businesses, like professional negligence claims or third-party property damage.

But without a business insurance package, you could find yourself out of pocket for plenty of other risks you might not have considered.

What is business insurance?

Also called a business insurance pack, this is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs, like a fire, storm, theft or even accidental damage.

Since every real estate agent is different, your business insurance package can be customised to include cover that fits your agency’s needs.

Cover options for real estate agents

There are over a dozen types of cover available through business insurance packs.

Though your individual needs may differ, Australian real estate agents tend to choose the following*:

Building and contents

Do you own the building where your office is located?

You may want to consider building† cover to protect it if it’s damaged in a fire, storm, or other insured event.

Whether you own your office space or not, you probably store some valuable business items inside.

Contents† cover helps protect things like your records, furniture, and promotional materials if they are damaged in a fire, storm, or due to malicious damage. 


Break-ins are an unfortunate part of doing business, even for real estate agents.

If someone forcibly entered your office and stole valuable equipment or records, Theft† cover can help you pay to replace what was taken.

Theft insurance covers you against loss and damage as a result of theft or attempted theft from your business premises.

Damage to the building, locks and safes as a result of a covered event will also be covered.

Business interruption

A fire, storm, or property damage could cost more than construction or repairs.

Business interruption† cover can help you pay ongoing expenses if your business as usual is interrupted by an insured event.

Imagine a fire damages your real estate offices.

You might need to lease new premises while yours is being rebuilt or remodelled.

Business Interruption cover can help you pay rent on the temporary premises and other increased costs of operating your business caused by the fire until your office is ready for you to move back in.

Tax audit

Mistakes happen, but when they involve accounting, the ATO could come calling.

Tax audit† cover helps you manage expenses related to an investigation or audit by the Australian Tax Office.

Tax audit cover can be used to pay an accountant, tax agent, or for the services of limited other professionals to help you respond to the ATO and get your books in order.

Get covered with BizCover

Business Insurance Packs are another way to protect your real estate agency.

BizCover makes it easy to create a package that suits your business needs and get covered in minutes.

While sorting a business pack, you can also compare other policies, like professional indemnity and public liability.

You may even include your public liability cover in your business pack – making the management of your policy easier.

And, there may even be savings waiting—like Alicia, who saved $200 on a business insurance pack and professional indemnity insurance for her NSW real estate agency!

Visit BizCover today and get instant cover for your real estate agency in minutes—no paperwork, no dramas.

*Based on total Real Estate Agents with an active BizCover policy on October 2023.

†This information is general only and does not take into account your objectives, financial situation or needs. It should not be relied upon as advice. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording.

‡The provision of the claims examples are for illustrative purposes only and should not be seen as an indication as to how any potential claim will be assessed or accepted. Coverage for claims on the policy will be determined by the insurer, not BizCover.

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