Premium Payments

Will a claim increase my premium?

A claim can result in an increase in premium. Our claims analysts will offer insight into the frequency and severity. Depending on the information provided, the underwriter will account or discount for the claims reported on a policy.

Why does my rate increase?

Rate increases can be a result of multiple changes in your underwriting specifications. Changes such as increases or decreases in Average Sales Price, Number of agents (if you’re covering you and your company), Years insured, Insured services, Claims reported can all effect the rating.

What is risk management/pre-paid legal fees and why do I have to pay this?

Our ClaimPrevent® Risk Management fees (included as part of your real estate E&O premium) help pay for our Legal Advisory Services, available for all insureds to call for advice, document review and more. Much more than typical hotlines staffed by junior attorneys, the CRES ClaimPrevent® Legal Advisory Services are delivered by experienced real estate defenseRead More

What is a membership fee and why do I have to pay this?

CRES established the Real Estate Agents Alliance Purchasing Group (REAAPG) under the Risk Retention Act of 1996, to allow us to offer comprehensive prepaid legal services as a part of your real estate errors and omissions insurance. Under the REAAPG, CRES offers a one-stop shop for coverage through Admitted insurance carriers at wholesale pricing. BecauseRead More

What factors affect the cost of my policy?

Your policy’s rating can be affected by Average Sales Price, Number of Agents, Location of office, Gross Commissions reported, Claims reported, Years insured, and Professional Services rendered. There are additional rating factors that can cause an increase or decrease in premium. In many cases, CRES Real Estate E&O + ClaimPrevent® policies offer 2 to 5Read More

What is the minimum premium available?

Minimum premium options vary by state, depending on policy limits, and whether you want an individual E&O policy or a policy to cover you and your company. Company policies can have coverage limits up to $3,000,000. Individual policies in CA, CO, ID, IA, LA, MS, NE, NM, RI, SD, TN, WY have standard limits of:Read More

Colorado Realtors®: it's time to renew your E&O policy. CRES Real Estate E&O FAR EXCEEDS the coverage of the group… Property damage, injury and theft are just 3 risks if Realtors® allow unescorted access to a listing. Learn risk mi…