Estate Agents Settlement Examples

FreelanceInsure do not insure estate agents, however here are some examples of claims made and settled against property workers by insurers. Details have been removed to ensure anonymity. Case listing does not imply that these claims were handled exclusively by FreelanceInsure nor does it imply or lend to any accuracy.

The information below is for informational purposed only and does not constitute an offer or amount settled in any future claim with FI or any of its agents or associates.

Examples of real claims made and settled against Estate Agents by insurers. Details have been removed to ensure anonymity.

Manchester 2011
Claim: It was alleged that the Insured undersold a property. Five months later it was resold for double the previous price.
Settlement: £200,000

London 2012
Claim: The Insured was allegedly negligent in handling rent reviews for a client. As a result the rent reviews cannot take effect and a claim has been brought for loss of rent over a seven year period.
Settlement: £150,000

Birmingham 2012
Claim: A Notice to Quit was served on the tenant of a farm. The Insured failed to serve a Counter Notice under the Agriculture (Miscellaneous Provisions) Act 1976 within the time limit.
Settlement: £75,000

Truro 2012
Claim: An employee of the Insured altered amounts and wordings of cheques, enabling him to obtain the proceeds.
Settlement: £50,000

London 2011
Claim: The Insured advised a client to sell a farm by auction. The client later alleged that a higher price could have been obtained if the land and buildings had been sold separately.
Settlement: £45,000

Edinburgh 2012
Claim: A property was put up for sale by the Insured, but it was alleged that they were not asked to.
Settlement: £40,000

Croydon 2012
Claim: A defective Rent Review Notice resulted in an opportunity to review rent being lost.
Settlement: £35,000

Durham 2012
Claim: The Insured valued a client's house in excess of £500,000 and it was subsequently put on the market. In anticipation of a quick sale the client purchased two properties. However the house was overvalued and after a long delay was sold for a substantially lower price. A claim was brought for the cost of bridging finance and other expenses incurred as a result.
Settlement: £30,000

Birmingham 2011
Claim: The Insured failed to advise a client of the full effect of the Rent Acts.
Settlement: £30,000

Carlisle 2012
Claim: It is alleged that the Insured included a garage and other outbuildings in the description of a property by mistake. The purchasers claim that, as a result, an excessive amount has been paid for the property.
Settlement: £30,000

Manchester 2011
Claim: A rental agreement was drawn up by the Insured, on the expiry of which the tenant refused to leave claiming an Agricultural Tenancy. The freeholder claimed for the reduction in the value of the land due to being unable to sell as vacant possession.
Settlement: £25,000

London 2012
Claim: The Insured was managing a client's property and replaced the clay roof tiles with concrete tiles. As the property was a Listed Building planning permission should have been obtained. The local authority subsequently required the clay tiles to be refitted.
Settlement: £20,000

Swindon 2012
Claim: It was alleged that a property sold by the Insured to a relative of an employee was grossly undervalued.
Settlement: £17,500

London 2012
Claim: The sales particulars of a property were incorrect. The purchaser sued the vendor and the vendor then sued the Insured.
Settlement: £15,000

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