Choosing the Right E&O Insurance Company

Are the E&O company’s clients satisfied?

Nothing says more about the quality and standard of service of a business than the satisfaction of its clients.  CRES has steadily grown since 1996 because of the value of our customized E&O policies that offer comprehensive and specific-to-real-estate coverage. CRES has been chosen by over 100,000 real estate professionals to protect their business —Read More

Does the E&O company insure anyone or do they have risk standards?

CRES focuses on lower-risk licensees who primarily perform residential real estate services. Because our risk is lower, we can keep your rates lower – and include more coverage and services you won’t get from other E&O firms. E&O companies that take on higher-risk clients tend to have higher costs, so they have to charge more.Read More

Is the E&O company admitted in my state?

Make sure the company is “Admitted” in your state, meaning they are approved by the state’s insurance department. Admitted companies must abide by the state’s insurance regulations, and will file their rates, rules, and forms with the state.  The state will step in to back up claims if the insurance company fails (a safety netRead More

Is the E&O company ‘A’ rated?

CRES directly underwrites only for A-rated (by A.M. Best) insurance carriers. This rating is “a comprehensive analysis consisting of a quantitative and qualitative evaluation of balance sheet strength, operating performance, and business profile.” A-rated insurance carriers are strong financially, and you don’t have to worry about losing your coverage to a carrier that might closeRead More

Why is one company’s E&O quote substantially higher or lower than another company’s quote?

If your state requires individual E&O insurance, your state has contracted with a provider who must take all applicants who apply.  That provider has to cover the highest-risk individuals.  That’s typically why premiums charged by your state program tend to be higher, and in some cases, much higher, than CRES premiums. CRES works primarily withRead More

Does the E&O company specialize in Real Estate E&O?

If you wanted a specific make of car, wouldn’t you go to that dealership (the expert), rather than Bob’s mixed auto lot?  Be sure you buy the most important protection your business needs from a company that specializes in real estate E&O. When a company specializes in real estate E&O, they bring critical knowledge ofRead More

Does the E&O policy offer coverages customized to cover my Real Estate activities?

Be careful of “miscellaneous” E&O policies which can lead to potentially dangerous coverage gaps. General E&O or liability insurance companies or brokers may offer you their standard E&O policy.  But few other industries have lockboxes, leasing and property management, REOs and short sales, and other activities unique to real estate.  Make sure the company youRead More

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