Operating as a professional property sourcer requires a solid foundation of trust and credibility. A critical component of this foundation is having the right insurance in place. Proper coverage not only protects your business from potential liabilities but also provides assurance to your clients that you operate with professionalism and care.
We are launching a challenge designed to guide our members toward a comprehensive understanding of insurance requirements in the property sourcing sector. By participating, you will gain the clarity needed to secure the correct coverage for your specific business activities.
Why Insurance is Essential for Your Business
Insurance is not just a regulatory requirement; it is a fundamental aspect of risk management. As a sourcing agent, you handle significant investments in what is deemed as a 'medium risk' sector. Without adequate insurance, you leave your business exposed to claims that could arise from errors, omissions, or accidents.
Understanding your specific needs is the first step. For example, if your services involve visiting properties or accompanying clients on viewings, Public Liability (PL) insurance is essential. This protects you against claims of injury or property damage. Furthermore, if you offer services that include overseeing refurbishments or developments, you will likely need specialist Project Management insurance.
Determining the right level and type of coverage is crucial for sustainable success.
This Month's Insurance Challenge
Challenge dated from 1st October 2025
We have structured this month's challenge into three actionable steps to help you navigate the complexities of insurance. Completing these tasks will provide you with the knowledge and resources to make informed decisions for your business.
1. RSVP for our Insurance-Desk Webinar
Join us on Tuesday, 8th October, for an exclusive webinar hosted in partnership with Insurance-Desk. This session is designed to address the specific insurance needs of property sourcing agents and deal packagers. Experts from Insurance-Desk's team will cover key topics, answer your questions, and provide clear guidance on securing the right policies. This is an invaluable opportunity to receive direct advice from industry professionals.
RSVP your place here.
2. Read Our Essential Insurance Guides
Knowledge is the first step towards compliance. We have compiled comprehensive resources to help you understand the types of insurance relevant to your work. Start by reading our primary guide, which offers a complete overview of insurance for sourcing agents.
- Read Our Top Insurance Items Guide: https://www.napsa.org.uk/top-insurance-items/
- Explore Project Management Insurance for Property Sourcer: https://www.napsa.org.uk/project-management-insurance-for-property-sourcers/
For those involved in managing property refurbishments, we also strongly recommend reviewing our specific guidance on project management insurance.
3. Complete the Insurance Module in Your Course
To solidify your understanding, the final step is to complete the dedicated insurance module within our '10 Steps to Setting Up Your Business' course - included as part of your NAPSA Membership. This module provides a structured learning experience, breaking down complex information into manageable sections. It will ensure you have a firm grasp of your obligations and the available options.
Access the course here: https://education.napsa.org.uk/login
Take Action to Protect Your Future
By taking part in this challenge, you are investing in the long-term security and credibility of your property sourcing business. Understanding and implementing the correct insurance is a hallmark of a professional and trustworthy agent.
We encourage you to complete these three steps this month to ensure your business is built on a secure and compliant foundation.