South Dakota Real Estate Errors & Omissions (E&O) Insurance
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/$500k |
| 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 Environmental/Pollution/Mold | $10k/$20k |
| $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 the opportunity to 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 5 times the individual claim coverage to $500,000 (over the state program)! And a separate $500,000 limit for defense costs.
- Plus 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 covers $5k per claim) – that’s 100 times the coverage!
- $100,000 in Environmental, Pollution, and Mold protection — versus just $10k per claim — or 10 times the protection!
- $50,000 in Cyber coverage for client notification costs due to a data/security breach (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 South Dakota resident, this endorsement amends your South Dakota policy to conform to E&O requirements of other states where you hold a valid real estate license.
With CRES, you’ll enjoy AN INCREDIBLE AMOUNT OF COVERAGE – and MORE INCLUDED SERVICES:
- 25 Free CRES Building Permit History Reports (a $99.95 value), included with your policy each year, with discounted pricing available on additional reports. Provide a Report to a buyer and reduce your out-of-pocket claims costs by $2500! A CRES Exclusive
CRES is a FAR better protection option than the State program for most licensees in South Dakota. We know the risks when you primarily perform residential real estate services – that’s why we include SIGNIFICANTLY MORE coverage than the state program.
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.
Only pay for what you do. As required by SDREC, 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
| Seller’s E&O Coverage | Add $5 |
|---|---|
| “Open House/Showings”, Bodily Injury and Property Damage | Add $8 |
| Fair Housing/Discrimination Defense and Damages Coverage to Limits | Add $8 |
| Pollution/Environmental Coverage ($500K) | Add $4 |
| 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.