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SOLUTIONS

New Mexico Real Estate Errors and Omissions Insurance

4 to 20 Times More Protection in Key Areas — from $336*

Renew by December 31, 2021

  • Includes 25 Free Building Permit History Reports to show buyers the permits on a property (a CRES exclusive!)
  • Expert Legal Services available 7 days a week pre-claim to resolve issues
CRES New Mexico Real Estate E&O                                                  versus State Group Policy
$100,000/$500,000 limits $100k/$500k
Pre-Claim Legal Services 7 days a week No help pre-claim with State Plan
$100,000 limit for Fair Housing/Discrimination (4x the protection!) $25k/$25k
$100,000 limit for Lock Box Property Damage (20x the protection!) $5k/$10k
$100,000 or sales price whichever less for Pollution (10x the protection!) $10k/$20k
$50,000 Cyber coverage Not offered with State Plan
$30,000 Subpoena coverage (12x the protection!) $2.5k/$2.5k
$20,000 – $50,000 Disciplinary Hearings coverage (8x the protection!) $2.5k/$5k

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.
  • Team/Non-Licensed Assistant coverage
  • $50,000 in Cyber coverage for client notification costs due to a data/security breach.  This critical coverage  protects you from the latest hacks and scams that target individual agents.  (The state program doesn’t even offer this, yet claims from this area are increasing.)
  • Conformity Endorsement coverage — if you’re a New Mexico resident, this endorsement amends your New Mexico policy to conform to E&O requirements of other states where you hold a valid real estate license.
  • PLUS, our New Mexico policies have ALWAYS included:  No out-of-pocket costs for claims where only attorney’s fees are paid (“First Dollar Defense”), Firm and Franchise coverage, and Prior Acts coverage for as long as you’ve maintained continuous real estate E&O insurance (with any company)

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.

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

Optional Coverage

$25,000 Seller’s E&O Protection Plan just $10
$500,000 Pollution/Environmental (including mold)just $9
$250,000 Open House and Showings just $25
Defense Outside the Limitsjust $16

*Comparison as of 10-6-21 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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