Real estate can be an intricate business, and your clients rely on you for expert advice and information regarding home sales and purchases. But when an error or oversight occurs that causes serious financial consequences for their sale or purchase of a home, errors and omissions insurance (also known as E&O coverage) protects against claims alleging professional negligence from these incidents.

No matter where your real estate agency operates — New York, Syracuse or Rochester — there are inherent risks that are present across all real estate professionals. From allegations that you didn’t act in their best interest to failing to disclose a property foundation problem, every real estate professional faces risks when providing their services and making mistakes at some point during their work.

Errors and omissions insurance for real estate agents is designed to mitigate risks by covering legal fees and any compensation that may result from claims filed against you, typically included as part of general or professional liability policies, or separately purchased as stand-in policies. Some states mandate this coverage before licensing agents while many brokerages also require E&O coverage as standard practice for their agents.

Most NEXT E&O policies typically cost $25-75 a month, depending on your level of coverage and business location. Either way, investing in this form of professional liability insurance is essential to any real estate agency.

Our experts can assist in selecting the appropriate errors and omissions insurance coverage for your real estate business. We understand the requirements in most states, offering tailored options tailored specifically to you and your circumstances. Connect with us now or obtain a quote online – our agents will guide you through every step so you have everything needed for a smooth experience and peace of mind so you can do what matters to you most – real estate investing!