Iowa Real Estate E&O Insurance

Iowa Real Estate Errors & Omissions (E&O) Insurance

At FirmSecured, we understand that as a real estate professional in Iowa, whether you run a commercial real estate firm in Des Moines, a residential agency in Cedar Rapids, or a property management company in Sioux City, having a quality errors and omissions (E&O) policy is vital for peace of mind in today’s IA real estate market.

Iowa is among the 15 U.S. states that require real estate E&O coverage. Other nearby mandatory states for real estate E&O include Nebraska, South Dakota, and Colorado. 

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Iowa Individual, Excess & Firm E&O

In Iowa, many real estate agents purchase individual E and O insurance policies. In these cases, the firm will often purchase an excess E&O policy. However, many IA real estate brokers and agency owners have found that a single firm-wide errors and omissions policy that covers both the company and agents is a cost-effective solution.

This approach allows the brokers and owners to find a policy that provides the strongest E&O coverage for their firm, which almost always gives agents better coverage than their individual policies. This structure for real estate E&O is widely adopted in nearby non-required states, such as Illinois, Minnesota, Missouri, Kansas, and Wisconsin, and it is quickly becoming even more popular in Iowa.

Coverages Missing from Many Iowa E&O Policies

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It’s important to note that real estate E&O policies in Iowa vary considerably in both price and coverage. It’s crucial to carefully review and compare policies to find the best professional liability coverage for your firm.

Many policies have very little coverage for pollution or mold claims, fair housing or discrimination claims, copyright/trademark violations, or contingent bodily injury or property damage claims. At FirmSecured, we help you review these coverage differences so you can feel sure you policy properly covers your real estate services and activities.

Iowa Real Estate E&O from FirmSecured

If you’re searching for professional liability coverage tailored to your Iowa-based real estate agency, you’ve found the right place. Our team at FirmSecured understands that each agency’s needs are unique, which is why we conduct a thorough analysis of your current coverage to identify any potential gaps or risks.

We partner with various insurance providers to provide you with a comprehensive selection of coverage options that suit your specific needs and budget, so you can make an informed decision about your professional liability insurance.

Get started by filling out our online form or scheduling a discovery call over Google Meet. 

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FirmSecured is powered by Veritas Risk Management, an independent insurance agency licensed in over 30 states, including Iowa. 

Iowa Real Estate Cyber Insurance

Iowa real estate firms face a growing number of cyber threats and risks. While some E&O and business owner policies may provide limited cyber coverage, many brokers are now realizing the significance of obtaining standalone cyber liability insurance to safeguard their firms.

In particular, third-party wire fraud, or funds transfer liability, is a major concern for real estate firms in Iowa. Many cyber policies, let alone E&O policies, don’t properly cover this liability for real estate firms.

At FirmSecured, we help you navigate the risks and find the appropriate cyber liability insurance coverage for your IA brokerage. To get started, simply choose the cyber liability option on our online form, and our team will help you secure the right cyber liability insurance.

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Iowa General Liability Insurance

Iowa-based real estate agencies also need to secure general liability (GL) insurance coverage to protect themselves against general liability, similar to most businesses in the state.

At FirmSecured, we offer a comprehensive selection of real estate general liability insurance coverage options to help you find the appropriate coverage for your Iowa-based brokerage. To get started, simply select the GL insurance option on our online form, and our team will provide you with several options to explore.