Errors and Omissions Insurance for Real Estate Professionals
Customized coverage to fit your needs. Competitive rates, get your quote today!
Just starting your career? Or are you a seasoned professional? In either case, we have a customized product designed especially for your needs.
Real estate professionals must have insurance coverage because the nature of the work or service they perform exposes them to risk of being sued by a client or a business partner. Real estate agents, brokers and other real estate professionals obtain errors and omissions insurance to protect their business against financial losses if their service or negligent acts result in a covered loss to a customer or others.
Real estate errors and omissions insurance, also known as real estate e&o insurance, is a type of insurance that provides coverage for real estate professionals who make a mistake, perform negligent acts or omit pertinent information while offering a service to clients or others. If a service is not delivered correctly and results in some type of covered harm, errors and omissions coverage is designed to protect the individual real estate professional or the real estate company.
Real estate errors and omissions insurance will pay damages and legal fees resulting from a lawsuit or claim against the real estate agent or broker. The aim of the real estate e&o insurance coverage is to minimize the amount of liability exposure of the real estate professional by transferring risks to the insurance company.
If you think you’re protected because you already have professional liability insurance, you may be wrong. In fact, now more than ever, it’s critical for real estate professionals to have professional liability insurance designed exclusively for their unique needs.
RealProEandO Errors and Omissions Insurance Program offers just that — a custom-designed set of professional liability solutions created exclusively for real estate professionals, all at affordable, competitive rates.
Our program does not provide “one size fits all” multi-professional coverage. We offer the following customized programs:
Any real estate professional who provides a service, offers advice, or performs any type of work on a property needs this specialized insurance to guard against financial loss resulting from civil litigation and other covered claims.
*Appraisers Errors & Omissions coverage, annual premiums projected for 2011 assuming 1) Retro date after 8/1/08 2) $300,000/$600,000 coverage limits 3) 80% or more revenues being from Residential appraisals 4) variable, based on state of residency.