What to Look for in a Real Estate E&O Policy
Does the real estate E&O policy help me grow my business and get more listings?
CRES Seller’s Protection Plan protects your sellers after the sale by providing them with at least $25,000 of their own Seller’s E&O coverage, a value-added benefit that can get you more listings! Imagine being able to mention this in your ads and flyers to attract listings. Imagine being able to include this in every listingRead More
Do I receive a DAILY benefit from my E&O – or will I only have benefits once I have a claim?
CRES uniquely includes ClaimPrevent® Legal Advisory Services with your real estate E&O policy, giving you daily on-call access to a team of local attorneys. This team of expert real estate litigators, available 7 days week, will help you proactively resolve issues before they turn into big problems. That means you enjoy a DAILY benefit fromRead More
Does the real estate E&O policy cover ALL of my real estate activities requiring a license?
CRES real estate E&O + ClaimPrevent® insurance policies cover all real estate activities requiring a license, including commercial sales, commercial property management, or land sales. If you’ve been involved in Commercial real estate activities over the last 12 months, or plan to be during the coming 12 months, you can include commercial coverage in aRead More
Does the real estate E&O policy cover Lock Box coverage?
You want a policy that includes Lock Box coverage for both property damage and bodily injury related to your lockbox. CRES real estate E&O + ClaimPrevent® policies include Lock Box coverage, typically up to your policy limits. Beware of generic E&O policies that are used across multiple industries. They may have dangerous gaps in coverageRead More
How does the real estate E&O policy insure transactions done for relatives?
CRES real estate E&O + ClaimPrevent® covers transactions where you as the agent are involved in listing and selling residential properties owned by relatives, as part of the Agent-Owned Property coverage. Single family residences up to a fourplex are included in the coverage. Many E&O companies do not cover these transactions. If they do offerRead More
Does the real estate E&O policy cover all types of properties, including ones in which I have an ownership?
CRES real estate E&O + ClaimPrevent® policies include coverage related to all types of properties. Many other companies will only cover “primary residence” agent-owned property transactions. Your CRES policy covers residential transactions involving single family residences up to fourplexes in which the agent has an ownership interest or investment.
Does the real estate E&O policy cover my prior transactions?
CRES includes Prior Acts coverage as a standard feature to cover past closings, as long as you have had continuous E&O insurance coverage with us or any insurance company. If general, if you had coverage under a firm’s policy, and you changed firms, you would need to have an individual E&O policy in place beforeRead More
What policy coverage limits come standard with my real estate E&O policy?
Your policy limits are typically state-specific. As an example, you may see CRES policy limits shown as $500,000/$500,000 in many states (but FL, ND, and TX — including many other states — have $1 million/$1 million limits). Policy limits determine how much coverage you will receive for each claim (the per-claim limit, which is theRead More