Rhode Island Individual Mandatory Real Estate E&O Insurance

Deadline to Renew: April 30, 2018

Starts at just:

$106

for a 1 year policy (Rhode Island now only requires a 1-year policy, so why pay for more than you need?)

Enjoy these included CRES Exclusives:

  • Superior Coverage — $500,000/$500,000 Limits versus $100k/$500k for the state program — that’s 5 times the per-claim coverage
  • Extensive specific-to-real-estate coverage – to address your unique daily risks
  • Legal Advisory Services — access to on-call local attorneys 7 days a week for questions, letters, contract review
  • 25 Free Building Permit History Reports each year

Guaranteed to meet all state requirements. Plus, CRES E&O + ClaimPrevent® far EXCEEDS what the state program includes. Why? Because we’re experts at protecting real estate professionals – and we know what coverages you really need from 20+ years of experience.

5 Times the Coverage Per Claim – 4 to 100 Times the Protection in These Key Areas

CRES State Program*
$500,000/$500,000 limits $100k/$500k
Legal Advisory Services included 7 days a week No help pre-claim, or limited
$500,000 policy limit for Lock Box Property Damage $5k/$10k
$100,000 Environmental/Pollution/Mold Not included
$50,000 Data Breach Notification Coverage Not Offered
$30,000 Subpoena coverage $5k
$20,000 – $50,000 Disciplinary Hearings coverage $5k
Agent-Owned SFRs to fourplex Limitations

Just $106 for a one-year policy.  Rhode Island Department of Business Regulation (RIDBR) requires only a one-year policy, so why pay for more?

Plus, you can gain more listings and boost commissions with Seller’s E&O — invest just an additional $5. Your first additional listing will pay for your entire year’s E&O! 

  • Get $500,000 individual claim coverage — 5 times more than the state program!* You’ll have $500,000 total policy coverage ($500,000/$500,000), plus a separate $500,000 limit for defense costs.
  • Included Legal Advisory Services 7 days a week to help prevent small issues from turning into lawsuits.
  • Lock Box Property Damage to your policy limit (the state program covers $5k* per claim) – that’s 100 times the coverage!
  • $100,000 in Environmental protection, including Pollution and Mold (a growing area for claims) — the state program doesn’t include this coverage unless you pay extra.
  • $50,000 in Cyber Liability coverage for client notification costs due to a Data/Security Breach (compared to $20k* with the state program). As a real estate agent, hackers and scammers are targeting you, and we want you to be protected.  (Add up to $50,000 optional Cyber Damages and Defense coverage for $35.)
  • $30,000 in subpoena coverage – versus $5k* per incident with the state program – 6 times the coverage!
  • $20,000-$50,000 per enrollment period for Disciplinary Proceedings assistance – versus $5k with the state program* – at least 4 times the coverage!
  • Agent-Owned Property coverage for SFRs up to fourplex – versus personal residence and percent of ownership limitations with the state program.
  • Conformity Endorsement coverage – if you are a Rhode Island resident, this endorsement amends your Rhode Island policy to conform to E&O requirements of other states where you hold a valid real estate license.
  • 25 Free CRES Building Permit History Reports (a $99.95 value), included with your policy each year, with discounted pricing available on additional reports. Save $2500 on your out-of-pocket claims cost when you provide a Permit to the buyer.  A CRES Exclusive

With CRES, you’ll enjoy SIGNIFICANTLY MORE COVERAGE – and MORE INCLUDED SERVICES!

CRES is a FAR better protection option than the state program for most licensees in Rhode Island. We know the risks when you primarily perform residential real estate services – that’s why we include higher limits and more relevant coverage to cover your risks.

Your CRES Real Estate E&O + ClaimPrevent® policy includes access to local expert real estate attorneys available 7 days a week – for questions, writing or reviewing letters and addendums, contract review, and more – to help you actually PREVENT claims.

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

As required by RIDBR, 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 $22.

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*Comparison as of 2-28-18 based on base policy cost for licensees performing residential sales only. 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.

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Low Cost Optional Coverage

Seller’s E&O Coverage Add $5
Pollution/Environmental Coverage ($500K) Add $4
Open House/Showings Coverage Add $8
Fair Housing/Discrimination Defense and Indemnity Add $8
Increase Limits to $1M/$1M Liability Add $15
Mortgage Broker Add $4
Appraiser Add $8
Cyber Liability Expanded Coverage Add $35
Defense Outside Limits Add $8

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.

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