Superior Appraiser E&O + ClaimPrevent® Legal Services
Plus, All the Insurance Your Appraisal Company Needs
- The best protection at the right price, because no one has the product access we have
- More extensive options for individual appraisers and appraisal companies
- The best claim prevention with response within 4 hours or next business day included with your E&O plan
Errors and Omissions Insurance Specifically for Appraisal
You want Errors and Omissions insurance that protects you from the specific risks you and your team face as residential appraisers, including:
- Common oversight issues: incorrect comps, not measuring the square footage of the property correctly, listing the wrong number of bedrooms, and not noticing normal inspection issues
- High appraisal value: especially if the property had sold recently for a much lower price
- Low appraisal value: if the low appraisal caused the transaction to be cancelled
- Property damage: especially with unoccupied properties
Whether the claim is frivolous or not, you can still be dragged into a costly lawsuit that may mean out-of-pocket legal costs for your defense.
CRES Appraiser E&O + ClaimPrevent® gives you the best value in residential appraiser E&O insurance coverage. (We’re part of Arthur J. Gallagher, one of the largest insurance brokers in the world, giving us unequaled access to options others just don’t have.)
PLUS, you’ll enjoy Pre-Claim Legal Services with your Appraiser E&O plan to help you address any issues with sellers and buyers BEFORE they become problems.
No matter your size or specialties, your customized policy will safeguard your business and ensure compliance with lenders and appraisal management companies.
CRES E&O + ClaimPrevent® is Designed Specifically for the Residential Appraiser
- You Won’t Pay for the Appraisal Mistakes of Others!
Many companies have raised rates for all appraisers, whether you’ve had a claim or not. We have access to E&O programs that most insurance brokers don’t, to ensure you get the best protection at the best price.
- Coverage Specifically for Residential Appraisers
CRES E&O has been created specifically for appraisers who specialize in residential properties. It’s not a generic policy. Your E&O addresses your specific risks. Choose the specific coverage and limits you want to include in your policy for the activities you need covered. You won’t pay for activities you don’t perform — and you won’t miss important coverage frequently missing from a generic policy.
- Identity Theft Coverage
Most states require that you inform your clients if their private information may have been compromised. This can occur if you lose your phone, have a laptop stolen, etc. We pay up to $5,000 to comply with the state required notifications.
Protect Your Appraisal Company with Comprehensive Insurance Options
Business owners: you also need general liability insurance and other coverages that we can combine into a Business Owner’s Policy.
- If you’re looking for workers’ compensation insurance, we can help with that, too.
With our extensive insurance options, we can ensure you get the best protection at the best price across your policies.
Why Choose CRES
- Resolve Issues Proactively with ClaimPrevent® Legal Advice
CRES expert real estate attorneys will help you BEFORE a problem turns into a claim — at no extra charge. Should you get a request from an AMC or a lender that makes you uncomfortable, or you need a letter written, or even if you’re involved in a disciplinary action, our local real estate attorneys are on-call and ready to help. Included with your E&O plan.
- A-Rated Protection
All of our policies are backed by A.M. Best A-rated carriers.
Appraisal E&O Plan Details
- Coverage for prior appraisals (no 2008 limitation) for as long as you’ve maintained continuous E&O coverage.
- No FDIC exclusion.
- Compliant with GSE and AMC requirements.
- Payment options for appraisal companies: fixed annual premium or per-transaction payment plans available
Get Started Today
Read each policy for a full comparison of coverage and benefits. Certain restrictions apply. All coverage is subject to Underwriting and other qualifications.