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Errors & Omissions Insurance
Protect your reputation with tailored coverage never leave your liabilities to chance
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Mistakes Happen, Protection Should Too
You're a dedicated real estate professional. You work tirelessly to guide clients through one of life’s most significant investments. But even with the best intentions, human error can creep in whether it's a paperwork slip, a missed disclosure, or a miscommunication that costs someone thousands. That’s where Errors & Omissions (E&O) Insurance comes in.
E&O coverage is specialized protection designed for service-oriented businesses like yours. It steps in when a client claims financial harm due to:
- Errors - like an incorrect disclosure or typo in a contract.
- Omissions - such as failing to mention a property detail or missing a deadline.
- Alleged Mistakes - even if you believe you did everything right, legal defense can be expensive.
This coverage doesn’t just pay judgments or settlements it covers the cost of legal defense too (lawyers’ fees, court costs, mediator expenses), so you’re not draining business or savings to fight claims.
- Client Claims & Lawsuits
If someone believes you made a mistake or overlooked something crucial, your E&O policy helps shoulder the burden regardless of fault. - Defense Costs Covered
Professional legal help adds up fast. Fortunately, E&O policies typically cover these expenses whether or not your business is at fault. - Trade Errors Included
In real estate, a misplaced decimal or misfiled document could trigger losses. E&O often covers those directly even without a formal lawsuit.
If you're delivering professional services for a fee handling contracts, advising clients, coordinating transactions E&O coverage is not just smart, it’s essential. It’s commonly required by brokerages, banks, franchises, and national associations.
- Financial Peace of Mind
Protection from expensive mistakes and misunderstandings keeps your personal and business assets safe. - Credibility Boost
Clients feel more confident working with a professional backed by solid insurance coverage. - Business Continuity
If a claim arises, E&O ensures you can defend your reputation without derailing your operations.
Q: Does E&O replace general liability or property insurance?
A: No. It specifically covers professional errors and misses. You’ll often see it bundled with general liability or other policies, but it serves a different purpose.
Q: Will it defend me even if allegations are false?
A: Yes. Most claims require defense. E&O covers legal and settlement costs even if you’re ultimately found not liable.
Q: How much does it cost?
A: Premiums vary depending on your volume of transactions, policy limits, and location. It might be a few hundred to a couple thousand dollars a year but compared to the cost of one major claim, it’s a small investment.