Real estate errors and omissions insurance (E&O coverage) is essential for anyone in the business of helping people buy or sell houses, commercial property, land and other assets. E&O protection protects agents, brokers and their businesses from lawsuits brought by clients alleging work was performed incorrectly or late – providing necessary repairs as well as compensation in cases related to real estate transactions.

Just one lawsuit could put your real estate business out of business; without real estate insurance it may take months or years to fight your way through court cases without coverage for legal fees and compensation owed to clients. With real estate insurance your legal costs will be covered as will compensation payments made directly by clients to you – protecting both parties involved from financial catastrophe.

Real estate brokers should carry both E&O and general liability policies to cover common risks such as customer injuries and property damage to customers, in addition to professional auto coverage for their brokerage vehicles.

The right E&O real estate insurance provides key features, including covering agent-owned properties, legal assistance for disciplinary proceedings and coverage for undisclosed fungi or bacteria on properties as well as lock box incidents. Furthermore, this coverage can even provide coverage against fair housing discrimination claims – something NEXT makes easy by customizing policies that fit your budget! Get started with us and start providing yourself with coverage today at an affordable cost.

E&O insurance may not be costly, but it is crucial that you get the appropriate type and amount of coverage. Your premium depends on several factors including firm size and its risk profile – for instance, smaller firms with proven histories might qualify for lower premiums than their larger counterparts. You must also choose your deductible amount carefully – usually higher deductibles lead to lower premiums.