Insurance

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In association with Realcover, the REIV provides insurance services, including Professional Indemnity Insurance, to Members. 

 

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Or contact Realcover for further information on 9613 1464.



The Benefits to REIV Members:

 
  • Competitive long term premiums
  • Premium funding instalments for payments available
  • Tailor-made policy coverage
  • 24-hour legal hotline
  • A dedicated, enthusiastic team of skilled PI professionals who have worked in conjunction with the real estate industry for many years


Who is RealCover?
Realcover was created to exclusively insure real estate agents for their professional indemnity risks. The captive insurance company is licensed in Australia and approved by APRA.

Why was RealCover established?
Following the collapse of HIH, professional indemnity insurance premiums for real estate agents were consistently increasing. The REIV recognised the frustrations felt by real estate agents nationally and sought to implement a solution that would ensure long term stability of a sensible premium rating. The absolute commitment from Realcover is to provide real estate agents with professional indemnity insurance with broad coverage, linked to education, training and risk management, and reasonable, sustainable pricing for the long term.

What makes RealCover different?
Realcover believes that risk management and compliance undertaken by an agent impacts greatly on their ability to defend claims that may arise. It is on the basis of ongoing improvement for risk management and compliance undertaken by both the agent and the REIV that Realcover could sustain sensible premiums into the long term. Realcover is prepared to provide the best coverage for their clients and has removed unreasonable exclusions, such as the bodily injury exclusion in relation to property management, from their policy, which was previously standard across the board.

What does this mean for me?
Realcover premiums are not, and will not, be impacted by adverse economic conditions, nor will they be affected by claims within other industries. There is a genuine commitment to provide sensible premium pricing for the long term.

What does this mean for me?
Realcover offers a legal hotline, available 24 hours a day. Immediate assistance is provided by qualified practitioners who specialise in the real estate industry. Together, the best way to proceed is devised and the real estate agent is kept informed and involved in the claims process.

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Or contact Realcover for further information on 9613 1464.