Colorado Real Estate Errors & Omissions (E&O) Insurance
Deadline to Renew: December 31, 2020
3 to 10 Times the Protection for Specific-to-Real-Estate Risks — for $39 Less*
CRES Real Estate E&O versus
|$100,000/$500,000 limits (with additional $500,000 limit for defense costs)||$100k/$300k|
|Legal Advisory Services included 7 days a week||No help pre-claim|
|$100,000 limit for Fair Housing/Discrimination Defense & Damages (more than 3x the coverage!)||$30k/$30k|
|$100,000 or sales price whichever less for Pollution (10x the coverage!)||$10k/$20k (State Plan charges $15)|
|$25,000 Seller’s E&O||Not offered by State Plan|
|$100,000 for Open House and Showings||$10k/$10k (State Plan charges $30)|
|$50,000 Cyber coverage||State Plan charges $15|
|$30,000 Subpoena coverage (6x the coverage!)||$5k/$5k|
|$20,000 – $50,000 Disciplinary Hearings coverage (8x the coverage!)||$2.5k/$5k|
|Sale of Agent-Owned vacation/rentals to fourplex||State Plan has primary residence only|
Plus the opportunity to gain more listings and boost commissions with Seller’s E&O — included in your Errors and Omissions plan. Your first additional listing will pay for your entire year’s Colorado E&O!
With CRES Real Estate E&O + ClaimPrevent®, you’ll have local expert real estate attorneys available 7 days a week. Ask questions, have them write or review letters and addendums, review contracts, and more – to help you actually PREVENT claims. (No help from the state group plan until you have a claim!)
And you’ll have significantly more coverage for the most critical specific-to-real-estate risks, making CRES a FAR better protection option than the state plan for most licensees in Colorado.
As required by DORA, our policies cover all real estate activities requiring a license. And now, you’ll cover all your activities (including appraisal) for one rate. CRES E&O is guaranteed to meet or exceed all DORA requirements.
- Lock Box Property Damage to your $100,000 policy limit
- Pollution / Environmental coverage to $100,000 including mold, which the state plan doesn’t even cover.
- Open House and Showings – up to $100,000 in coverage for property damage and injuries that occur during selling activities. The state plan offers $10k/$10k and only if you pay $30 more!
- $50,000 in Cyber coverage for client notification costs due to a data/security breach (which the state program doesn’t include unless you pay $15 more).
- Agent-Owned Property coverage for the sale of your vacation/rental properties up to fourplex – versus only your primary residence with the state program.
- Team/Non-Licensed coverage
- Conformity Endorsement coverage – if you’re a Colorado resident, this endorsement amends your Colorado policy to conform to E&O requirements of other states where you hold a valid real estate license. (Additional cost with the state program.)
- PLUS, our Colorado 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’ll enjoy AN INCREDIBLE LEVEL OF COVERAGE – and MORE INCLUDED SERVICES — for $39 Less*:
- Give your sellers an extra $25,000 in Seller’s E&O with a CRES Qualified Home Warranty from Fidelity National Home Warranty or First American Home Warranty.* Learn more
- 25 Free CRES Building Permit History Reports (a $99.95 value), included with your policy each year, with discounted pricing available on additional reports. A CRES Exclusive
- $1,000 retention (out-of-pocket claims expense) – that can be eliminated by using CRES Building Permit History Reports or CRES Qualified Home Warranties. And no out-of-pocket claims expense for claims where only attorney’s fees are paid (“First Dollar Defense”).*
You may be eligible for CRES E&O even with past complaints or claims.
Enrolling online is now a much simpler process!
*Comparison as of 11-4-20 based on base policy cost for licensees performing activities requiring a license. Read each policy for a full comparison of coverage and benefits. All coverage is subject to Underwriting and other qualifications. The E&O Out-of-Pocket Cost (Retention) 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.
Low Cost Optional Coverage
|Pollution/Environmental Coverage ($500K)||Add $4|
|Cyber Liability Expanded Coverage||Add $35|