Errors and Omissions Insurance

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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

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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

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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

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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

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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

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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

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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

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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

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Claim Prevention E&O Toolkit: Tools to Avoid a Real Estate Lawsuit

When does real estate E&O insurance protect you far beyond the typical policy?  When the E&O insurance actually helps you every day — with access to claim prevention resources to help you avoid a claim, not just cover it after the fact. But what’s in that claim prevention toolkit? How do you access and useRead More

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Real Estate E&O Coverage for Prior Transactions: What Are My Options?

Never heard of Full Prior Acts or didn’t know there was a difference in Prior Acts coverage? You might wonder if one covers you for transactions that occurred in the past, why doesn’t the other? Are there exclusions? Here are the important differences you need to know between Prior Acts coverage and Full Prior ActsRead More

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