Contingent liability is also known as CRES Open House and Showings coverage. It’s an additional endorsement that broadens coverage, to include any claim or suit that is brought against you for damages because of bodily injury (to someone other than you) or property damage. CRES Contingent liability also covers bodily injury to others caused by signs used to advertise the property like For Sale or Open House signs.
If someone gets hurt at a showing or from your real estate signage, or something is stolen at an open house, you may be liable.
This coverage is usually excluded from a general liability policy for real estate professionals. CRES E&O policies are customized to cover your real estate activities and can include Open House and Showings coverage.
This blog/website is made available by CRES Insurance Services for educational purposes to give you general information and understanding of legal risks and insurance options, not to provide specific legal advice. This blog/website should not be used as a substitute for competent legal advice from a licensed professional attorney in your state. Claims examples are for illustrative purposes only. Read your policy for a complete description of what is covered and excluded.
Here’s how your real estate agents can use home staging as a tool to boost sales, but also manage the risks…
https://t.co/CjfktvTJYJReal Estate Pros can reduce out-of-pocket claims costs with a CRES Advantage 13-Month Home Warranty Plan by Fidelit… https://t.co/XFZ6Dgy5F8