Oklahoma Real Estate E&O
Real Estate Errors & Omissions (E&O) in Oklahoma
Oklahoma E&O Requirements
Whether you manage a property management firm in Tulsa, own a luxury real estate agency in Oklahoma City, specialize in commercial real estate in Norman, or sell residential real estate in Edmond, one thing remains constant. In this ever-changing real estate market, having quality errors and omissions coverage for your brokerage will give you and your agents peace of mind.
Real estate errors and omissions (E&O) insurance is not currently required for Oklahoma real estate agents or agencies. However, most real estate franchises in OK require it. Oklahoma independent real estate firms should also have a strong policy in place to protect their firm and agents.
How are Oklahoma Professional Liability (E&O) Real Estate Policies Different?
In Oklahoma, real estate E&O policies vary in coverage and cost. Unfortunately, some policies don’t cover the most common claims that real estate agents face.
Here are five examples of claims with common E&O coverage gaps:
Contingent Bodily Injury or Property Damage (BI/PD) claims – examples include when a client is injured at a showing or open house.
Fair housing/discrimination claims – these can arise from a variety of situations, including advertising or handling client inquiries.
Claims related to agent-owned properties, which can occur if there is a conflict of interest or potential self-dealing.
Copyright/Trademark Violations – these claims are excluded on most E&O policies, but are common issues with photos on listings.
Developed/Constructed by Agent or Related Entity – whenever selling an agent, their spouse, or a related entity is
It’s important to review your E&O policy carefully to make sure you have adequate coverage for these and other potential claims. Don’t wait until you’re facing a lawsuit to find out if you have the coverage you need.
Get E&O Options from FirmSecured
At FirmSecured, we’re here to answer your questions and simplify the process of obtaining quality E&O coverage in Oklahoma. As an independent firm, we work closely with several insurance providers that offer real estate E&O coverage. This collaboration allows us to provide you with multiple options to choose from.
We don’t just stop at giving you quotes; we take the time to carefully examine your existing E&O policy and compare it to our options. Our aim is to guide you through the process and assist you in securing the strongest E&O policy for your firm at the most competitive rate. Whether you’re a broker or owner, we’re dedicated to helping you.
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Oklahoma Cyber Insurance for Real Estate
Brokers, Agents, Firms, Buyers, and Sellers are at Risk!
In today’s digital age, real estate transactions are increasingly vulnerable to cyber threats. Cybercriminals can target buyers, sellers, real estate agents, and even title companies, making it crucial to protect your firm with proper cyber liability coverage.
While cyber liability coverage may not be required by all real estate agencies or franchises, it is quickly becoming a necessity. In fact, many well-known real estate franchises now mandate their franchisees to purchase cyber insurance to mitigate the risk of third-party wire fraud and other cyber risks.
At our firm, we understand the growing importance of this coverage and are committed to helping you navigate your options. We can work with you to assess the unique risks your business faces and recommend a policy that provides comprehensive protection.
Our team will guide you through the process, explaining the different types of coverage available and helping you choose the right policy to suit your needs. We’re dedicated to ensuring that your business is protected from the increasing threat of cyber risks in the real estate industry.
Oklahoma Real Estate General Liability
Essential to your Oklahoma real estate firm.
General Liability (GL) insurance is a must-have for almost every business operating in Oklahoma. It helps safeguard your firm from a wide range of general lawsuits. This coverage can protect you against claims for bodily injury, personal and advertising injury, and damage to rented premises, among other general business liability risks.
If you’re looking for Oklahoma real estate general liability insurance, our team is here to help. We’ll guide you through your options and help you choose the best policy to suit your needs. Don’t hesitate to start exploring your options today.