South Dakota Real Estate Errors and Omissions Insurance

South Dakota Licensees: Choose the E&O Plan for Your Transaction Volume 

 CRES is revolutionizing Errors & Omissions insurance in South Dakota with 3 new coverage plans, each at a great price, each with 8 to 20 times MORE protection than the state group plan.

✅Base Protection Plan – for those with no revenue for the last 12 months from activities requiring a real estate license.

$100,000/$500,000 coverage – from $62

✅Superior Protection Plan – Up to 20X more protection in individual coverage areas.

$100,000/$500,000 coverage – from $114

✅Platinum Protection Bundle – Broadest coverage,highest limits, all coverage options at a bundled price.

$500,000/$500,000 or $1 million/$1 million – from $260 or $360

Don’t Settle for a “Bare Bones” Policy — Choose 8 to 20X More Protection from CRES

All real estate professionals in South Dakota are required to have Errors and Omissions insurance. CRES is a FAR better E&O protection option than the state group plan for most licensees in South Dakota.  We guarantee to meet or exceed 100% of SDREC  requirements. And we far exceed the protection offered in the state group plan . . .

Base Protection Plan and Superior Protection Plan                        State Group Plan

• Environmental (including mold) to$100,000                                                                                   vs $10k (10X 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 $5k (10X Less coverage)
• First Dollar Defense (no out-of-pocket if only legal fees)                                                            vs Not included
• 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 Primary residence (or Extra Fee)
• Conformity (for other states where you’re licensed)                                                                      vs Extra Fee
• Firm and Franchise coverage                                                                                                                  vs Same
• Defense Outside the Limits (separate limit for defense costs)

Optional coverage

• Pollution/Environmental (including mold) to $500,000:                           just $4
• Fair Housing/Discrimination Damages and Defense to $500,000:     just $8
• Open House and Showings coverage to $100,000:                                   just $8
• Open House and Showings coverage to $250,000:                                  just $12
• Seller’s Protection Plan (to win listings) to $25,000:                                   just $5

Platinum Protection Bundle includes all the coverage and options above, with:

• Pollution/Environmental (including mold) to $500,000 or $1 million
• Fair Housing/Discrimination Damages and Defense to $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 CRES Real Estate E&O + ClaimPrevent® includes access to local expert real estate attorneys Pre-Claim — for questions, writing or reviewing letters and addendums, contract review, and more — to help you actually PREVENT claims.

With CRES, You’ll Get an Incredible Amount of Coverage — and More Included Extras

• 25 Free CRES Building Permit History Reports (a $99.95 value), included with your policy each year, with discounted pricing on additional reports.  Provide a Report to a buyer before closing and eliminate your out-of-pocket claims costs (a $1000 savings)!  A CRES Exclusive
• 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.

You may be eligible even if you have past complaints or claims.

As required by SDREC, our policies cover all real estate activities requiring a license.  Choose a separate policy to cover your Appraisal or Transaction Coordinator activities.

***Reminder: Once you complete your purchase, you’ll need to email the South Dakota Real Estate Commission notification of your proof of coverage to dlr.realestate@state.sd.us***