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New Mexico Real Estate Errors and Omissions Insurance

4 to 20 Times More Protection in 3 New E&O Plans — from $164!

Renew by December 31, 2022

  • Base Protection Plan: from $164
  • Superior Protection Plan: from $317
  • Platinum Protection Bundle: from 410
  • All with Pre-Claim Legal Services 7 Days a Week

3 New E&O Plans for New Mexico Licensees Each with Up to 20X More Protection

The days of one E&O plan for everyone, no matter your transaction volume (and so, your amount of risk) are over. CRES is revolutionizing E&O for New Mexico . . .

✅ Base Protection Plan — the lowest price for those with no income in the last 12 months from activities requiring a real estate license:
$100,000/$500,000 coverage – from $164

✅ Superior Protection Plan — Up to 20X more protection in individual coverage areas:  $100,000/$500,000 coverage – from $317

✅ Platinum Protection Bundle — higher limits and all coverage options for those who need the broadest coverage: $500,000/$500,000 or $1 million/$1 million coverage limits – from $410 or $510

Every CRES E&O plan is guaranteed to meet 100% of New Mexico requirements, guaranteed to meet or beat the coverage of the state group plan, and includes our highly rated Pre-Claim Legal Services 7 days a week.

From 4 to 20 Times More Coverage in EVERY CRES E&O Plan

Compared to the state group plan, every CRES plan includes far more coverage:

Base Protection Plan and Superior Protection Plan

  • Environmental (including mold) to $100,000               —      vs $10k (10X Less coverage)
  • Fair Housing Damages and Defense to $100,000      —     vs $25k (4X Less coverage)
  • Lockbox Property Damage to $100,000                        —     vs $5k (20X Less coverage)
  • Escrow Disputes to $100,00                                                 —      vs $5k (20X Less coverage)
  • Data breach notification up to $50,000                        —     vs Not offered
  • Subpoena coverage to $30,000                                       —     vs $2.5k (12X Less coverage)
  • Disciplinary proceedings coverage to $20,000        —     vs $2.5k (8X Less coverage)
  • Agent-Owned Property Sales of Vacation/Rentals    —     vs Pay Extra
  • Conformity for other states where you’re licensed      —     vs Not included (or Pay Extra)
  • First Dollar Defense (no out-of-pocket when only defense costs)
  • Firm/Franchise coverage (CRES has always included this)
  • Team/Non-Licensed coverage
  • Defense Outside the Limits (additional limit for defense costs)

Optional coverage:

  • Environmental (including mold) to $500,000:  just $10
  • Sellers Protection Plan (to help win listings):  just $12
  • Open House & Showings coverage to $100,000:  just $17
  • Open House & Showings coverage to $250,000:  just $29

Platinum Protection Bundle with all coverage and options above, adds:

  • Pollution/Environmental (including mold) to policy limits ($500,000 or $1 million)
  • Open House and Showings coverage to $250,000
  • Seller’s Protection Plan (to win listings) to $25,000

Prior Transactions are covered for as long as you’ve maintained continuous E&O coverage. No extra charge to cover all activities that require a real estate license.

Your New Mexico real estate E&O policy is guaranteed to meet or exceed NMREC requirements. And now, one low rate covers all of your activities that require a real estate license.

With CRES Real Estate E&O + ClaimPrevent®, you’ll enjoy:

  • On-call Pre-Claim Legal Services 7 days a week — included!  Work with experienced local attorneys who guarantee a response within 4 hours or next business day, with recommendations confirmed in writing! Call our hotline whenever you have a question or need a contract reviewed.  Our attorneys will write or review letters and addenda on your behalf  to help you PREVENT claims.

With CRES, You’re Protected with an Incredible Amount of Coverage — plus:

  • 25 Free CRES Building Permit History Reports (a $99.95 value) each year, plus discounts on additional reports.  (Some real estate companies actually require these reports on every transaction.)  Provide a Report to a buyer and eliminate your out-of-pocket claims costs (a $1000 savings)A CRES Exclusive
  • Access to Old Republic Home Warranties also eliminates your out-of-pocket claims costs* ($1,000 value) when you provide the home warranty.  These warranties also give your seller up to an additional $50,000 in Seller’s E&O, plus they can include a unique structural coverage option.
  • Discounts to Office Depot®, Constant Contact® Email, Lenovo® PC Products, UPS® shipping, even Bekins® and Wheaton Van Lines moving discounts you can offer to your clients.

For most licensees in New Mexico, CRES gives you FAR better protection — over the state group policy.  We know what you need, because we’ve been specializing in real estate errors and omissions for more than 25 years.

Even if you’ve had claims in the past, you may be eligible for CRES E&O.

Our E&O covers all real estate activities requiring a license, per NMREC. (Cover your Appraisal or Transaction Coordinator acitivites in a separate policy.)

Online enrollment is now even simpler

*Comparison as of 10-6-22 based on base policy cost for licensees performing activities requiring a license.Seller’s E&O coverage and other benefits are feature-based and warranty specific. The E&O Retention (Out-of-Pocket Claims Expense) Reduction applies to any real estate licensed Real Estate Services Council Risk Purchasing Group, LLC. (“RESCRPG”) member who personally pays for the Home Warranty Plan. These benefits are offered by, and intended for, the members of RESCRPG. RESCRPG membership is part of your CRES E&O policy. Other warranties may also qualify for an E&O Retention Reduction, but only those warranties listed here are guaranteed to qualify. Not available in all states. Certain restrictions apply. Read each policy for a full comparison of coverage and benefits. All coverage is subject to Underwriting and other qualifications.

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