Maine Real Estate E&O Insurance
Real Estate Errors and Omissions in Maine
Is E&O Required in Maine?
Whether you own a luxury real estate firm in Bar Harbor, manage a real estate rental management or property management firm in the Acadia National Park area, sell commercial real estate in Augusta, or enjoy helping your new Maine clients find the best places to enjoy fresh lobster, one thing is the same. A solid real estate E&O policy for your firm will give you peace of mind in this face-paced market.
Although real estate errors and omissions insurance is not required for Maine real estate agents or agencies to purchase, many Maine real estate franchises require it, independent real estate firms want a good policy in place to protect their firm. Maine real estate E&O offers important protections to secure your firm.
Comparing Maine E&O Policies
Many Maine real estate E&O policies do not have adequate coverage for some of the most common E&O claims. For example, most E&O policies have little to no coverage for contingent bodily injury and property damage claims, property management activities, fair housing or discrimination claims, regulatory complaints, and more. Many E&O insurance companies have lower limits (sublimits) for certain categories of claims.
Brokers often don’t realize they have lower coverage limits for those claims until they are facing a real estate lawsuit. Of course, policy pricing also varies based on the strength of the insurance program.
Get E&O Options from FirmSecured
At FirmSecured, we make the process of obtaining E&O options as easy as possible. We are an independent firm, meaning we work with most of the insurance companies doing real estate E&O to put a number of options on the table for your firm.
We won’t simply quote your E&O. We will walk through your current E&O coverage with you to compare your current policy with our options. Our goal is to help you as a broker or owner find the strongest E&O policy for your firm at the most competitive cost.
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FirmSecured is powered by Veritas Risk Management, an independent insurance agency in Northeast Tennessee.
Real Estate Cyber Insurance
The Maine Real Estate Landscape is Changing
Many franchises are now requiring their agencies to purchase cyber insurance because of the increasing cyber risk for agencies over the last few years. Even if your agency is independent or if your franchise is not yet requiring it, cyber liability insurance for real estate firms is quickly becoming a necessity. Get Maine real estate cyber insurance options today!
Real Estate General Liability Insurance
Protecting your Maine real estate agency from lawsuits
General Liability (GL) insurance is purchased by most businesses and real estate agencies. The coverage protects your real estate agency from a number of lawsuits and settlements. The policy covers many general businesses liability exposures, such as some bodily injury claims, personal and advertising injury, and damage to premises rented to you (to name a few). Get started on your real estate general liability options.