Real estate errors & omissions insurance (E&O) provides small real estate and title businesses with protection against professional liability lawsuits, which is essential in an industry full of risks – from misinterpreting legal contracts to overlooking a property defect that could cost clients money. Therefore it’s vital that agents and brokers secure E&O coverage as an added layer of safety in case anything goes wrong with their professional services.

Errors and omissions occur in all professions, but real estate transactions can be especially vulnerable due to the often complex nature of property transactions. Due to this risk, real estate has seen an unprecedented spike in claims filed by individuals or small businesses seeking compensation from agents due to errors made or oversights made during property deals.

Practice careful care and pay attention to detail to protect yourself against E&O claims from clients, but even the most meticulous professionals may make errors that compromise their business. Real estate errors & omissions policies provide protection from costs of defense as well as damages awarded against your client – up to your policy limits.

Real estate brokers and agents likely know a horror story of an upset client filing an E&O claim against them. Transactions can go wrong in numerous ways, leaving buyers disappointed because you didn’t act in their best interest or provided advice that met expectations.

Real estate agents of any experience level could find themselves facing lawsuits at some point; E&O coverage can provide the essential financial protection you’ll require if a suit is filed against them.

Note that most real estate errors & omissions policies exclude coverage for copyright, trademark and TCPA violations which typically fall under cyber insurance’s purview; make sure these additional coverages exist if needed. FirmSecured works with select insurance carriers who offer this additional coverage as part of a broad real estate errors & omissions policy.

E&O coverage is essential to anyone working in real estate, such as mortgage loan originators, title insurance providers and escrow agents. Get a free real estate errors & omissions insurance quote now from Victor and protect your business with state-of-the-art E&O protection. NAR members can even enjoy exclusive member rates on this type of coverage through him!