What should I do if I suspect a claim may happen?
Contact CRES ClaimPrevent® Hotline at 877-273-7467. Our local expert real estate attorneys will work with you to help prevent the claim or reduce its size where possible. Once you’ve contacted our ClaimPrevent® risk management department about an issue or potential claim, it’s counted as incident reporting. Whenever you think there may be a claim againstRead More
Do You Need an Individual E&O Policy?
Are you covered under your firm’s real estate E&O policy? If you’re not, your family’s personal assets and your livelihood could be at risk should you be named in a real estate lawsuit, even a frivolous one. The average E&O lawsuit costs more than $40,000 — are you prepared to pay that out of yourRead More
What other CRES services can help reduce my E&O retention (out-of-pocket claims expense)?
CRES Qualified Home Warranties We’ve partnered with the leading home warranty companies to provide you and your clients with expanded benefits that aren’t available anywhere else, like optional Structural Coverage. You reduce your E&O retention (out-of-pocket claims expense) up to $5,000 and your clients get up to $50,000 in Seller’s E&O when they buy aRead More
What’s included with a CRES Real Estate E&O + ClaimPrevent® Policy:
The details of an E&O policy are so important, yet people rarely read the fine print until after a claim is filed. A CRES real estate E&O + ClaimPrevent® policy includes important essential standards plus exclusive features in our base policies — often at a lower price than policies with less coverage. Here’s a quickRead More
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