Real Estate Errors & Omissions (E&O) in Utah
What you need to know about Utah Professional Liability in Real Estate
Whether you specialize in luxury real estate in Park City, manage a property management or rental agency in Salt Lake City, or focus on commercial and residential real estate outside of Provo or Sandy, you need a solid real estate errors & omissions policy to provide peace of mind in Utah’s current real estate market.
While Utah real estate agencies are not obligated to purchase real estate E&O insurance, most UT real estate franchises require it, and independent real estate firms usually prefer having a strong policy to protect their agency. However, many real estate and insurance brokers are unaware that real estate E&O insurance is a specialized policy with complex coverages. There are significant differences between the insurance companies offering E&O policies that brokers must be aware of.
How do E&O policies differ, and how is FirmSecured different?
To better understand a real estate E&O policy, it is essential to comprehend the policy exclusions. Brokers often mistakenly assume that a particular claim is covered until they discover some of the many E&O exclusions specific to real estate.
For example, many policies exclude bodily injury and property damage claims arising from professional services. This can be an issue for property management professionals and residential real estate agents who face the possibility of lawsuits if a client is injured while viewing a property, if a property manager is sued for property damage, or if a client is bitten by a dog.
Additionally, many E&O policies offer little coverage for fair housing claims, land or property owned by an agent, broker price opinions, copyright violations, mold, or open house claims.
Get E&O Options from FirmSecured
At FirmSecured, our objective is to assist brokers in understanding their current coverage by reviewing their policy together, identifying any coverage gaps, and offering multiple options to their current policy to see if more robust E&O options are available for their firm. As an independent agency, we work with most insurance companies offering programs for real estate E&O, giving brokers the opportunity to compare different options.
Ready to Get Started on Utah E&O Options?
Fill out our short contact form to have one of our team members reach out quickly. If you would have a conversation on Google Meet to see if our agencies are a good fit, you can schedule a discovery call directly on our calendar.
FirmSecured is powered by Veritas Risk Management, an independent insurance agency in Northeast Tennessee. Our team is licensed in more than 30 states, including Utah.
Utah Cyber Insurance for Real Estate
The Utah Real Estate Landscape is Changing...
20 years ago, most agents hadn’t heard of cyber insurance. Now, cyber breaches are in the news regularly. Some real estate franchises are beginning to require their agencies to purchase cyber liability insurance. Quality cyber liability insurance coverage is quickly becoming a necessity for agencies as ransomware, wire fraud, and business email compromise claims increase. Learn more about cyber insurance and the real estate industry.
Utah Real Estate General Liability
Want 1 trusted insurance advisor for all of your liability insurance?
We know that most brokers don’t want 3 different insurance agents for each type of insurance they are purchasing. If you trust FirmSecured with your errors & omissions and cyber liability coverage, let our team help you with your real estate general liability insurance. We have the same process for general liability that we do for cyber and E&O. Get multiple options, and let us help you feel confident understanding the different coverages and options for your agency.
