Errors and Omissions (E&O) insurance can help any business that provides professional advice or services, like real estate agents or home inspectors. Also referred to as professional liability insurance, E&O coverage protects your company against allegations of negligence or substandard work – while even unfounded claims can help pay legal fees and settlement costs even when legal fees or settlement costs cannot. It’s essential that you understand all risks involved with your industry so you can select an E&O plan tailored specifically to your business needs.
Insurance is the ultimate balance of risk versus cost, and finding affordable E&O insurance for real estate agents requires shopping around for multiple insurers and taking advantage of cost-cutting measures like bundling other forms of coverage or keeping your claims history clean. You could even take advantage of discounts such as group rate pricing, monthly payment options or instant proof of coverage to find an economical E&O premium plan.
Real estate professionals often face lawsuits, so having adequate protection is crucial. Picking out the wrong policy could leave you vulnerable to expensive claims. There are two primary forms of E&O insurance policies for real estate agents and brokers: standard professional liability and first party cyber coverages; however, standard professional liability policies only cover limited issues related to environmental hazards, public relations, bodily injury and property damage while first party cyber liability provides more specialized coverage that encompasses privacy breaches, network and information security breaches, open house exposure and employment practices.
Cost of E&O insurance for real estate agents depends on various factors, such as your industry and business scope, as well as how much coverage is necessary. You may be able to reduce premium costs by bundling E&O with other forms of business coverage like commercial auto, workers’ comp, general liability and cyber liability policies – or by purchasing via an insurance platform which works with top U.S. insurers while offering an easy shopping experience.
Victor Insurance Agency specializes in Errors and Omissions coverage for Real Estate agents and brokers. Our agents can assist in comparing quotes from top carriers to identify the appropriate policy for your business, while our online application makes coverage simple and accessible. We pride ourselves on offering affordable yet comprehensive coverage options for individuals, agencies and firms alike. With fast click and bind, group-rate pricing, monthly payment options, instant proof of coverage and superior customer care – it is no wonder why so many businesses trust us with their Errors and Omissions Insurance needs. Partnered with world-class program administrators we bring you cost-effective options tailored specifically to your business – get your quote now!