Idaho Real Estate Errors & Omissions (E&O) Insurance
Deadline to Renew: September 30, 2020
8 to 20 Times the Protection for Specific-to-Real-Estate Risks with CRES
|CRES E&O versus||State Plan|
|$100,000/$500,000 limits (plus a separate $500,000 for Defense costs)||$100k/$300k|
|Pre-Claim Legal Services 7 days a week||No help pre-claim with State Plan|
|$100,000 for Lock Box Property Damage (20x the coverage!)||$5k/$10k|
|$100,000 or sales price whichever less for Pollution/Mold (10x the coverage!)||$10k/$20k|
|$100,000 for Open House and Showings||Not offered with State Plan|
|$50,000 Cyber Data Breach Notification coverage (10x the coverage!)||$5k notification coverage|
|$30,000 Subpoena coverage (12x the coverage!)||$2.5k for attorney fees|
|$20,000 – $50,000 Disciplinary Hearings coverage (8x the coverage!)||$2.5k/$5k (defense)|
|Sale of Agent-Owned vacation/rentals to fourplex||State Plan has primary residence only (or add $15)|
Now, one rate covers all activities that require a license!
Your CRES Real Estate E&O + ClaimPrevent® includes access to local expert real estate attorneys available 7 days a week – to help you actually PREVENT claims. Attorneys are on-call for questions, writing or reviewing letters and addendums, contract review, and more. And they guarantee a response within 4 hours or next business day and confirm recommendations in writing!
CRES E&O is guaranteed to meet or exceed all IREC requirements. You’ll enjoy:
- Fair Housing/Discrimination defense coverage to $100,000.
- Pollution / Environmental coverage includes mold — which the state plan doesn’t cover
- Open House and Showings – you’re protected for up to $100,000 for damage to property and injuries during selling activities (how are you doing showings and conducting open houses without this coverage?)
- Conformity Endorsement coverage – if you are an Idaho resident, this endorsement will amend your Idaho policy to conform to E&O requirements of other states where you hold a valid real estate license. Montana is now available!
- PLUS, our Idaho 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 AMOUNT OF COVERAGE – and MORE INCLUDED SERVICES:
- Give your sellers an extra $25,000 in Seller’s E&O with a CRES Qualified Home Warranty from Fidelity National Home Warranty or Old Republic Home Protection.* 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) can be eliminated by providing a CRES Building History Report to a buyer, or using CRES Qualified Home Warranties.* And no out-of-pocket claims expense for claims where only attorney’s fees are paid (“First Dollar Defense”)
CRES offers FAR better protection than the State plan for most real estate licensees in Idaho — and we have for more than 20 years.
You may be eligible for CRES E&O even if you have past complaints or claims. And enrolling online is now a much simpler process.
*Comparison as of 7-16-20 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. Read each policy for a full comparison of coverage and benefits. All coverage is subject to Underwriting and other qualifications. 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.
Low Cost Optional Coverage
|Fair Housing/Discrimination Defense and Damages Coverage to Limits||Add $8|
|Cyber Liability Expanded Coverage||Add $35|