Iowa Real Estate Errors & Omissions (E&O) Insurance
Deadline to Renew: January 1, 2018
5 Times the Coverage Per Claim – 8 to 100 Times the Protection in These Key Areas
| CRES | State Program |
|---|---|
| $500,000/$500,000 limits | $100k/$100k |
| Legal Advisory Services included 7 days a week | No help pre-claim |
| $500,000 policy limit for Lock Box Property Damage | $5k/$10k |
| $100,000 Pollution/Environmental/Mold | Not included |
| $50,000 Data Breach | $5k |
| $30,000 Subpoena coverage | $2.5k |
| $20,000 – $50,000 Disciplinary Hearings coverage | $2.5k |
| Agent-Owned SFRs to fourplex | Primary residence only |
Plus you’ll gain more listings and boost commissions by adding Seller’s E&O — invest just an additional $5. Your first additional listing will pay for your entire year’s Iowa E&O!
- Get 5 times the individual claim coverage to $500,000 (over the state program)! Plus $400,000 MORE coverage than the state program for all claims for the year.
- Plus Legal Advisory Services 7 days a week to address issues and help prevent them from turning into claims and lawsuits.
- Lock Box Property Damage to your policy limit (the state covers $5k per claim) – that’s 100 times the coverage!
- $100,000 (or most recent sales price, whichever is less) in Pollution/Environmental/Mold coverage — the state doesn’t even include this, yet claims for mold are rising.
- $50,000 in Data Breach Notification (the state covers only $5k). Individual agents are being targeted by hackers and scammers, and we want you to be protected.
- $30,000 in Subpoena coverage – versus $2.5k per incident – 12 times the coverage!
- $20,000-$50,000 per enrollment period for Disciplinary Proceedings assistance – versus $2.5k – at least 8 times the coverage!
- Agent-Owned Property coverage for SFRs up to fourplex – versus only your primary residence.
- Conformity Endorsement coverage – if you are a Iowa resident, this endorsement amends your Iowa policy to conform to E&O requirements of other states where you hold a valid real estate license.
With CRES, you’ll enjoy INCREDIBLY EXTENSIVE COVERAGE – and VALUABLE EXTRAS:
- 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
CRES is a FAR better protection option than the State program for most licensees in Iowa. We know the risks when you primarily perform residential real estate services – that’s why we include SIGNIFICANTLY MORE coverage than the Iowa state program.
Your CRES Real Estate E&O + ClaimPrevent® policy includes our Legal Hotline 7 days a week. Local expert real estate attorneys can address questions, write or review letters and addendums, review contracts, and more – to help you actually PREVENT claims.
You may be eligible even if you have past complaints or claims.
Only pay for what you do. As required by IREC, our policies cover all real estate activities requiring a license. Our base pricing is for Residential services. If you have received compensation for Commercial services in the past 12 months just add $24.
*Comparison as of 11-30-17 based on base policy cost for licensees performing activities requiring a license. Savings comparison assumes online purchase where state program charges a $5 convenience fee and CRES does not. Read each policy for a full comparison of coverage and benefits. All coverage is subject to Underwriting and other qualifications.
Low Cost Optional Coverage
| Defense Outside Limits | Add $8 |
|---|---|
| Seller’s E&O Coverage | Add $5 |
| Open House/Showings Liability | Add $8 |
| Pollution/Environmental Coverage ($500K) | Add $4 |
| Fair Housing/Discrim. Defense & Damages | Add $8 |
| Increase Limits to $1M/$1M Liability | Add $16 |
| Appraisers | Add $8 |
| Mortgage Brokering | Add $4 |
| Cyber Liability Expanded Coverage | Add $35 |
CRES vs. State Program
Watch our video to learn why you get more for less with CRES. Watch our video to learn why you get more for less with CRES.