Why is one company’s E&O quote substantially higher or lower than another company’s quote?

If your state requires individual E&O insurance, your state has contracted with a provider who must take all applicants who apply.  That provider has to cover the highest-risk individuals.  That’s typically why premiums charged by your state program tend to be higher, and in some cases, much higher, than CRES premiums.

CRES works primarily with residential real estate licensees who tend to be lower risk.  And we focus on claim prevention – because that helps keep your life stress-free, and it helps us keep your rates low.  That’s why we offer our ClaimPrevent® Legal Hotline 7 days a week to answer questions, review contracts, and write letters. It’s also why we’ve created our Building Permit History Reports (25 free per year), our Seller’s E&O, and our Qualified Home Warranties – all designed to help you prevent claims.

Our focus on claim prevention also allows us to include many coverage options customized for real estate as standard in our policies — without charging higher premiums. Other companies may charge extra fees or higher premiums to add specific-to-real-estate coverages — if they offer the coverage at all.

You’ll also find that CRES coverage tends to be more extensive in just about every area.  You’ll typically enjoy 5 times more per-claim coverage with CRES — compared to many other policies that cost more!

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.

Originally Published February 17, 2017

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