Real estate professionals advise and assist their clients through one of the largest financial ventures of their lives – purchasing real estate. However, this delicate task comes with great responsibility – any misstep could result in legal claims as well as costly financial losses for both clients and businesses involved.

Real estate errors & omissions insurance (also known as E&O insurance or professional liability insurance) is essential in protecting you against costly lawsuits that could cripple both your business and career.

Errors & Omissions Insurance for Real Estate The price of your errors & omissions policy will depend on the specific risks of your business, so an online quote can give an accurate picture of costs; oftentimes they come in lower than anticipated.

Some real estate professionals opt to purchase this insurance separately while others include it as an add-on line item to their general liability policy. Either way, investing in such protection will bring peace of mind and financial protection.

At your real estate firm in New York City, Syracuse or Rochester there can be numerous ways your work could go wrong and could potentially become financially devastating for your growing business. But with error and omissions insurance for real estate in place, your focus can remain on doing your job while we take care of everything else for you.

Real estate errors & omissions insurance provides protection when clients allege you provided incorrect advice or failed to disclose relevant information during the transaction process. Furthermore, it typically covers your legal fees should someone sue over these mistakes – for example a leaky basement not disclosed, failing to inform a client of an inspection requirement, or forgetting having your client sign important paperwork at closing could all lead to claims against you and result in legal action being brought against you by clients alleging the same issue.

Note that real estate errors & omissions coverage does not provide protection from claims for property damage or bodily injury; such coverage typically falls under a commercial general liability policy.

Error and Omissions Insurance Coverage can protect against claims that arise due to professional negligence from clients, so having it is absolutely crucial. Even if they turn out to be baseless, having this coverage in place before beginning working with clients (especially as a new real estate agent or broker). You can always get a quote for errors & Omissions coverage today!