Real Estate Agent Insurance
Errors & Omissions (E&O) insurance — also called professional liability — for real estate agents and brokers.
What this coverage is intended to address
- ✓Allegations of failure to disclose, misrepresentation, or breach of duty — addressed by professional liability insurance, also called Errors & Omissions (E&O) insurance
- ✓Defense costs in the event of a covered claim arising from a real estate transaction
- ✓General liability for showings, open houses, and the office (separate coverage)
Coverage products commonly considered
Most real estate agent operations consider one or more of these coverage types:
Hypothetical claim scenarios
These are hypothetical examples only. Actual coverage depends on the policy form, exclusions, and carrier determination.
- A client alleges that the professional made an error that caused a financial loss. Professional liability insurance — also known as Errors & Omissions (E&O) insurance — is generally intended to respond in the event of a covered claim.
- A visitor trips and falls in the office. General liability is intended to address allegations of this nature.
Frequently asked questions
What's the difference between general liability and professional liability?
General liability is intended to respond to third-party bodily injury and property damage. Professional liability insurance — also called Errors & Omissions (E&O) insurance — is intended to respond to allegations that your professional advice, work product, or failure to act caused a client a financial loss. They cover different risks and most professional services carry both.
Is "professional liability" the same as "E&O"?
For most professional services, the terms are used interchangeably. Notaries, accountants, attorneys, real estate agents, consultants, and similar professionals will typically see the coverage referred to as either professional liability or Errors & Omissions (E&O) — both refer to the same protection against allegations of professional negligence.
Do I need cyber liability?
If you store client information electronically — even basic intake forms — cyber liability is generally intended to address data breach response, notification, and certain damages. Coverage and limits vary widely by carrier.
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