Insurance for Real Estate

Key risks

Common industry risks

Understanding the risks in your industry and how our comprehensive coverage responds to protect your business.

The Risks

Risks Response

Management Liability

A real estate business faces staff theft, trust account review, workplace claim, or inquiry costs AU

Management Liability may respond to employment, statutory, crime, tax audit and inquiry cost claims.

Financial Institutions Insurance

An employee diverts rent or bond money to a personal account before the theft is discovered by the business or a client.

Financial Institutions Insurance may respond to direct financial loss arising from employee dishonesty, fraud, forgery or fraudulent instructions.

Cyber Insurance

A phishing email exposes tenant or landlord data including personal IDs, contact details or bank account information.

Cyber Insurance may respond to breach response costs, legal expenses, damages and regulatory penalties arising from a data breach.

Employment Practices Liability

A former staff member alleges unfair dismissal, workplace bullying or discrimination by the agency, and a claim is made.

Employment Practices Liability Insurance may respond to claims arising from alleged unfair dismissal, bullying or discrimination by employees.

Public Liability

A visitor slips at an open home and makes a claim for injury sustained during a property inspection.

Public Liability Insurance may respond to third party injury and property damage claims arising from your business activities.

Management Liability

The Risks

A real estate business faces staff theft, trust account review, workplace claim, or inquiry costs AU

Risks Response

Management Liability may respond to employment, statutory, crime, tax audit and inquiry cost claims.

Financial Institutions Insurance

The Risks

An employee diverts rent or bond money to a personal account before the theft is discovered by the business or a client.

Risks Response

Financial Institutions Insurance may respond to direct financial loss arising from employee dishonesty, fraud, forgery or fraudulent instructions.

Cyber Insurance

The Risks

A phishing email exposes tenant or landlord data including personal IDs, contact details or bank account information.

Risks Response

Cyber Insurance may respond to breach response costs, legal expenses, damages and regulatory penalties arising from a data breach.

Employment Practices Liability

The Risks

A former staff member alleges unfair dismissal, workplace bullying or discrimination by the agency, and a claim is made.

Risks Response

Employment Practices Liability Insurance may respond to claims arising from alleged unfair dismissal, bullying or discrimination by employees.

Public Liability

The Risks

A visitor slips at an open home and makes a claim for injury sustained during a property inspection.

Risks Response

Public Liability Insurance may respond to third party injury and property damage claims arising from your business activities.

Important: Scenarios are examples only. Coverage is subject to policy terms, conditions and exclusions. Limits and sub-limits might apply. Policy wordings vary between insurers. Refer to the PDS or Policy Wording for details.

Products

Coverage for Real Estate

Professional Indemnity, Employment Practices Liability, and more for Real Estate from leading insurers

Professional Indemnity

Covers negligence claims from third parties to help protect your business from professional errors

Management Liability

Bundled insurance for executives and boards incl D&O, EPL, Statutory Liability and Tax Liability insurance

Employment Practices Liability

Covers wrongful acts such as unfair dismissal or discrimination by employees or contractors

Cyber & Technology

Includes Professional Indemnity and Cyber & Technology Liability insurance for tech businesses

Claims examples

Common claims against Real Estate

Simple examples to show how claims may arise in real state industry.

Regulatory Investigation

SCENARIO

An agency is investigated following a complaint about trust account handling, requiring legal advice and representation.

WHY IT’S COVERED

Professional Indemnity Insurance may include cover for legal costs associated with regulatory investigations or disciplinary proceedings arising from professional real estate services.

Property Management Error

SCENARIO

A property manager fails to arrange urgent repairs, leading to tenant complaints and a claim against the agency for loss of rent.

WHY IT’S COVERED

Professional Indemnity Insurance may respond to claims arising from alleged errors or omissions in property management services, including failure to arrange urgent repairs.

Sale Process Dispute

SCENARIO

A seller alleges their agent failed to communicate all offers received, resulting in a lower sale price and financial loss.

WHY IT’S COVERED

Professional Indemnity insurance is designed to respond to claims arising from alleged negligence, errors or omissions in your professional services, including defence costs and compensation.

Incorrect Listing Information

SCENARIO

A property listing states the dwelling is approved for a certain use. After settlement, the buyer discovers restrictions apply and claims the information provided influenced their purchase decision.

WHY IT’S COVERED

Professional Indemnity insurance is designed to respond to claims arising from alleged negligence, errors or omissions in your professional services, including defence costs and compensation.

SCENARIO

A support worker gave a participant the wrong medication due to a mislabeled pillbox. The participant experienced severe drowsiness and dehydration, requiring overnight hospitalization.

WHY IT’S COVERED

Costs included $8,200 for hospital and rehabilitation, $12,500 for legal defence, and a $7,500 settlement to resolve the claim out of court.

Manual handling damage

SCENARIO

A support worker gave a participant the wrong medication due to a mislabeled pillbox. The participant experienced severe drowsiness and dehydration, requiring overnight hospitalization.

WHY IT’S COVERED

Costs included $8,200 for hospital and rehabilitation, $12,500 for legal defence, and a $7,500 settlement to resolve the claim out of court.

SCENARIO

A support worker gave a participant the wrong medication due to a mislabeled pillbox. The participant experienced severe drowsiness and dehydration, requiring overnight hospitalization.

IS THIS COVERED?

Costs included $8,200 for hospital and rehabilitation, $12,500 for legal defence, and a $7,500 settlement to resolve the claim out of court.

FAQs

Real Estate insurance queries

How do I make a claim?

You should notify your insurer as soon as you become aware of a claim or circumstance that may give rise to a claim which could include a client complaint, you discovering an incident or an allegation of harm. Claims should be made in writing and handled in line with the claims notification requirements which will be outlined in your policy wording.

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How do I make a claim?

What is a Certificate of Currency?

A Certificate of Currency is issued by an insurance company and is something you can use as proof that your existing insurance policy is valid. It contains all the information regarding your policy. You may be asked from time to time to prove your insurance - for loans to your business, for landlords of your premises, or for certain clients you might have. The moment you purchase your insurance from upcover you can send your proof of insurance to whoever requires it, at just a click of a button.

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What is a Certificate of Currency?

How quickly do I need to report an incident to my insurer?

You should notify your insurer as soon as you become aware of any incident, claim, or circumstance that may give rise to a claim. Professional Indemnity insurance typically operates on a "claims made and notified" basis, meaning both the claim must be made against you AND you must notify the insurer during the active insurance period (or discovery period if applicable). Late notification after policy expiry may not be covered unless you have purchased an extended discovery period. Prompt notification is essential to protect your rights under your insurance.

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How quickly do I need to report an incident to my insurer?

What is a retroactive date?

A retroactive date is the earliest date from which a claim can arise and still be covered under your policy. Professional Indemnity and certain other claims-made policies will only respond to claims arising from acts, errors or omissions that occurred on or after the retroactive date listed in your policy schedule. If an incident occurred before your retroactive date, it typically will not be covered even if the claim is made during the current policy period. Maintaining continuous cover without gaps helps protect your retroactive date — check your policy schedule or ask your broker if you are unsure of your retroactive date.

Learn More

What is a retroactive date?

How do I file a claim for real estate insurance?

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How do I file a claim for real estate insurance?

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The information contained on this website is general advice only and has been prepared without taking into account your individual needs, objectives and financial situation. It should not be relied upon as advice. All insurance products are subject to the terms, conditions, limits and exclusions contained in the relevant policy wording and Product Disclosure Statement. Before deciding whether a particular insurance product is right for you, please consider your personal circumstances and read the relevant Product Disclosure Statement, Target Market Determination, Policy Wording, and Financial Services Guide.

Insurance for Real Estate

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Common industry risks

The Risks

Risks Response

The Risks

Risks Response

The Risks

Risks Response

The Risks

Risks Response

The Risks

Risks Response

The Risks

Risks Response

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Coverage for Real Estate

Common claims against Real Estate

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Real Estate insurance queries

How do I make a claim?

How do I make a claim?

What is a Certificate of Currency?

What is a Certificate of Currency?

How quickly do I need to report an incident to my insurer?

How quickly do I need to report an incident to my insurer?

What is a retroactive date?

What is a retroactive date?

How do I file a claim for real estate insurance?

How do I file a claim for real estate insurance?

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