Real Estate Closing Service Errors & Omissions Coverage
Real Estate Professional Liability Insurance (also known as Real Estate Errors & Omissions Insurance, or Real Estate E&O) protects all types of real estate professionals if a client alleges that you were professionally negligent or failed to perform professional duties, or in the case of the failure of your work to perform as promised.
Real Estate E&O Coverage is available for all types and sizes of real estate professionals, including:
- Real Estate Agents and Brokers
- Real Estate Appraisers
- Real Estate Auctioneers
- Foreclosure Agent
- Home Inspectors
- Lease Broker
- Mortgage Field Service Professionals
- Mortgage Brokers
- Title Agents
Real Estate Professional Liability Insurance Protects Your Company
The high cost of a legal defense could put your real estate closing service firm out of business. Your company's survival and your personal financial security depend upon protecting yourself against the impact of a lawsuit.
Almost any firm or individual that improperly performs services can cause a client to suffer an economic loss - and mounting a defense is expensive. The impact of even a baseless claim can be devastating. Would your company have the resources and expertise to defend against such a claim? Request a Quote
Why Do I Need Real Estate E&O Insurance?
Mistakes Happen. Even the most skilled professionals are likely to make an error, omission or mistake at some point. From human oversights to miscalculations, many incidents can result in a lawsuit.
You Can't Be All Places At Once. As your firm becomes more successful, you may not be able to personally handle every aspect of each client's job. Errors & Omissions coverage insures not only your mistakes, but also the mistakes of the employees and independent contractors you hire. Request a Quote
The exposures facing real estate professionals are changing rapidly. The rapidly increasing complexities of real estate transactions and the rising use of litigation have increased the professional liability exposures of real estate professionals involved in the closing process.
Clients or licensing state governments may require that you and your subcontractors carry Errors & Omissions insurance. The right kind of E&O policy can protect both the real estate closing service provider subcontractors from claims of a perceived error or omission, even if the problem occurs months after the initial consultation. Request a Quote
What Is Covered by Real Estate Errors & Omissions Insurance?
Real Estate Errors & Omissions Insurance includes legal defense costs - no matter how baseless the allegations. It will pay for any resulting judgments against you, including court costs, up to the coverage limits on your policy.
Doesn't My General Liability Insurance Provide the Same Protection?
Errors and Omissions insurance coverage is not provided by a
Commercial General Liability policy. Commercial General Liability does NOT provide coverage for errors, contract performance disputes or any other Professional Liability issues. Real estate closing service professionals who have General Liability without Professional Liability (Errors & Omissions) coverage are taking a serious risk. It's like a doctor practicing medicine without Malpractice Insurance.
Request a Quote Customized Real Estate Professional Liability Insurance Coverage
Your Professional Liability Insurance policy can be customized to include:
- a business owners package that includes general liability insurance and property insurance
- options including coverage of Personal Injury claims
- defense costs outside the limits of liability
- deductibles beginning at $0
Brunswick Companies has a long history of supporting real estate agents and brokers and other closing service providers in securing coverage. We specialize in professional liability insurance. We have access to a wide variety of top-ranked insurers and the contacts to help you in securing the best rates.
Contact Brunswick Companies today to request an insurance broker / agent professional liability insurance quote.
Brunswick Companies also offers a wide variety of license and permit surety bonds for real estate brokers, mortgage brokers, escrow agents, title agents and other professionals involved in the real estate closing process. Request a Quote
