Do You Have the Coverage You Think You Do? Would you expect your E&O insurance to cover you if a guest at a vacation rental is injured when a balcony railing collapses? Or if a tenant sues over property damage caused by a delayed maintenance issue? Most property managers would assume so—but in reality, these …
Why Property Managers Need “Contingent BI/PD” E&O Coverage Read More »
Property Management E&O: Are You Properly Covered? Errors & omissions (E&O) insurance for property managers is a highly specialized and often misunderstood type of coverage. That’s one reason why we consistently find five critical coverages missing in many property management E&O policies. In the insurance world, it’s easy to be tempted by “quick and cheap” …
Top 5 Coverages Missing on Property Management E&O Policies Read More »
Real estate errors and Omissions (E&O) insurance is essential for you and your real estate firm. It’s important to understand the details of your policy, and one part of that that is often overlooked is your deductible and/or deductible waiver. An insurance deductible is the amount you’ll need to pay out of pocket before the …
E&O Deductible Waiver: What Real Estate Brokers Need to Know Read More »
If you’re a real estate franchisee, your real estate franchise likely requires that you carry $1 million in real estate errors & omissions insurance coverage (aka a real estate professional liability policy). Real estate franchises will also typically ask that the independently owned & operated franchisees add the franchisor as “additional insured” on the franchisee’s …
Real Estate E&O, Franchisors, & Additional Insured Endorsements Read More »
Real estate E&O is a complicated insurance product that many real estate agents (& insurance agents) do not fully understand. You’ll see errors & omissions insurance called different things: real estate “professional liability,” “errors and omissions,” “E&O,” and “E and O”. Just know they are all different terms for the same thing. That said, the …
Many real estate agents sell property through their real estate firm that they developed or constructed. Other agents commonly sell property that their spouse or a related company/entity developed/constructed. While this is common in the real estate, construction, and development world, many agents and builders are unaware that real estate agents often have little to …
E&O Coverage: Property Developed / Constructed by Related Entity Read More »
Real Estate E&O Coverage: Defense Costs Say you are a real estate agent representing a seller who is listing a property. During the transaction, you failed to disclose a very serious mold issue in the property to the buyer. As a result, the buyer not only discovered the defect after closing, but their child becomes …
Real estate brokers and agents in mandatory states for real estate E&O insurance generally have the options of carrying a firm E&O policy, individual policies for each agent, or/and an excess policy. We break down the differences between these policies more fully in this blog. If you or your real estate agency has spoken with …
Renewing Individual E&O | Best Practices for Real Estate Brokers Read More »
As a real estate agent or professional, you need to to understand what professional liability defense costs are. Most professional liability or errors and omissions (E&O) insurance policies frequently mention defense costs. In this article, we will explore what defense costs are and how they are covered by insurance. We will also give you specific …
What are Professional Liability (E&O) Defense Costs? Read More »
Real Estate E&O: Apples to Apples Comparison? Real Estate errors & omissions (E&O) insurance is a specialized and nuanced coverage. Brokers will often find these 10 critical real estate errors & omissions coverage missing in their real estate errors & omissions policy. In the insurance world, cheap online “quote, bind, and issue” business insurance policies …
10 Coverages Missing in Real Estate Errors & Omissions Policies Read More »
