Errors and Omissions Insurance
How to Protect Yourself from the Most Common E&O Claims with Better Coverage
Hopefully, you’ve never been sued, had to go to trial, or had a real estate E&O claim. It’s not fun. What can make an already stressful situation even more stressful is if you don’t have Errors and Omissions insurance coverage — or enough coverage, or even the right coverage. You buy insurance thinking it’s goingRead More
A Real Estate Broker’s Guide to Per-Transaction E&O
If you’re looking to purchase or renew your real estate Errors and Omissions insurance for your office, you may want to consider a Per-Transaction payment option. With a Per-Transaction payment, you don’t need to pay the full year’s policy premium upfront. Instead, you pay a monthly amount, based on the transactions you complete each month,Read More
Expanding Your Real Estate Services? Don’t Forget to Expand Your E&O to Cover the Risks
Have you expanded your real estate services since you last renewed your real estate E&O insurance? Are you sure you have coverage for everything you’re now engaged in? (If you have a “generic” E&O policy used for many industries, you may not be covered for many of your real estate activities.) Changes in real estateRead More
Do You Need Your Own Real Estate E&O Insurance Policy? Firm vs. Individual
Even if your firm carries amazing real estate E&O insurance, there can still be gaps, limitations and exclusions. These potential gaps vary from firm to firm based on their most common business activities and overall coverage needs. This is why having an individual real estate E&O Policy tailored to your exact activities and history isRead More
How to Customize Your Real Estate E&O Insurance to Get Exactly What You Need
Odds are that you don’t need every type of coverage that a real estate E&O insurance policy could include. For example, if you’re just getting started in real estate, you likely won’t need to buy extra Full Prior Acts coverage (because you haven’t closed any transactions or ‘prior acts’ if this is your first timeRead More
Avoid Real Estate E&O Claims Resulting From Agent-Owned Property Sales
Real estate professionals have an inside track when it comes to buying and selling real estate for their own interest or investment purposes. However, these Agent-Owned Property transactions can create risks that aren’t covered by real estate E&O insurance, leaving agents responsible for costly E&O claims and lawsuits. So how can you reduce your riskRead More
Understanding What Real Estate E&O Insurance Coverage Limits Mean
When you look at your Real Estate Errors and Omissions (E&O) Insurance policy and see “$500,000/$500,000” limits do you know exactly what each number means? When you’re considering something as crucial to the survival of your business – and the protection of your family’s personal assets — it’s important to understand what every element ofRead More
Why You Shouldn’t Buy Real Estate E&O Insurance from a General E&O Company
Real estate E&O insurance is unique from other types of business insurance. Each real estate transaction can present a different set of risk considerations, challenges and regulations to abide by than the previous transaction. Real estate E&O insurance is unique. Nowhere else is there the same Independent Contractor relationship between licensee and the Firm. ThisRead More
How to Be Protected From Real Estate Open House and Showings Lawsuits
Did you know that most real estate E&O insurance policies don’t offer coverage for claims that arise due to injuries or property damage at open houses and showings? (It’s also called Contingent Liability coverage.) If something gets damaged or goes missing — you pay for it. A client cuts himself trying to open a windowRead More
How to Reduce Your Real Estate E&O Insurance Deductible
A retention is your total out-of-pocket expense paid before your insurance kicks in. The retention limit on your real estate E&O insurance policy is going to function in a similar capacity to other ‘policy deductibles’ you may have, such as for auto or medical insurance. The difference between real estate E&O insurance retentions and mostRead More