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 your own pocket?
Even if you are covered under your firm’s policy, there can still be gaps, limitations, and exclusions — based on exactly what your firm’s particular E&O policy covers and doesn’t cover. Your firm’s policy was likely designed to benefit the firm, and you may find it doesn’t really adequately protect you.
Especially if you’ve changed real estate companies, your firm has been sold, or may have been remiss in making its E&O payments regularly, you may find yourself at risk.
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.
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