Massachusetts Real Estate Errors & Omissions (E&O)
Do You Need Real Estate E&O Insurance in Massachusetts?
Protecting yourself and all parties involved in real estate transactions is essential whether you’re managing a rental or property management firm in Boston, selling commercial real estate in Cambridge, or helping a retired Massachusetts couple find their dream home. A reliable real estate errors & omissions (E&O) policy will give you peace of mind in this evolving real estate market.
Although Massachusetts does not require real estate agents or agencies to purchase errors and omissions insurance, many real estate franchises and independent firms opt for E&O coverage to protect their business. Investing in MA real estate E&O insurance provides essential protections for your firm.
How do MA E&O Policies Differ?
Real estate transactions in Massachusetts can be complex, with many moving parts and potential risks. As a real estate professional, it’s crucial to protect yourself and all parties involved in these transactions. While errors and omissions (E&O) insurance can provide an important layer of protection, not all policies are the same.
In fact, many E&O policies for real estate in Massachusetts have significant gaps in coverage. Some policies may have minimal or no coverage for bodily injury and property damage (BI/PD) claims, property management activities, discrimination or fair housing claims, copyright or trademark violations, and more.
These gaps in coverage can leave real estate brokers vulnerable to financial and legal risks, especially if they are not aware of their coverage limits until they face a lawsuit.
While some policies may appear cheaper upfront, they may have lower coverage limits or other restrictions that could ultimately be more costly in the event of a claim.
Get E&O Options from FirmSecured
At FirmSecured, we understand the importance of having a robust E&O insurance policy that meets the unique needs of your Massachusetts real estate brokerage.
We work with a wide range of insurance companies that offer real estate E&O insurance to provide our clients with a range of options and help them find the most competitive pricing.
Our team of experienced insurance professionals can also help you navigate the complexities of E&O insurance coverage, identify potential gaps in your current policy, and recommend solutions that offer the strongest protections for your business.
Ready to Get Options for Massachusetts E&O Insurance?
Fill out the form below to learn about your Massachusetts real estate professional liability options, and we’ll get in touch with you shortly.
Want to bypass the form and schedule a Google Meet appointment directly? Book time on our calendar here to have a conversation about your E&O options.
FirmSecured is powered by Veritas Risk Management, an independent insurance agency in Northeast Tennessee, and licensed in over 30 states including MA.
Cyber Insurance For MA Agencies
Cyber risk is an increasing concern for real estate brokers
As the real estate market in Massachusetts continues to evolve, so do the risks associated with cyber threats. Just like E&O claims, it’s increasingly no longer a question of if, but when, a cyberattack will occur. Real estate agencies are vulnerable to a variety of cyber risks, including data breaches and phishing attacks. In response, many franchises in Massachusetts are now requiring their agencies to purchase cyber insurance to protect against these growing threats. If you want to ensure your agency is fully protected, it’s time to consider cyber liability insurance for your Massachusetts real estate firm.
Real Estate General Liability Coverage
Protect Your Real Estate Business against Lawsuits
General liability insurance is a critical coverage for real estate firms to protect against various claims. It can provide coverage for some bodily injury and property damage claims that may arise from your business operations, such as a client slipping and falling on your premises.
With the right general liability policy, your real estate firm can have peace of mind knowing that it’s protected from unforeseen events that can result in costly lawsuits.
