Real estate professional liability insurance is also known as errors and omissions protection. If you question whether or not it is right for you, it is important to understand what it covers. The policy provides protection from negligence caused by your alleged mistakes or advice. It also covers defense costs for lawsuits against your company, regardless of who is at fault.
Liability insurance offers coverage for companies and individuals against losses resulting from acts, errors or omissions in their performance of professional duties. Standard claims assert negligence, misrepresentation, design errors, violation of good faith and fair dealing and inaccurate advice. Some of the areas for which we offer coverage include:
- Personal injury coverage
- Mediation provision reduces retention
- Defense costs for licensing proceedings
- Independent contractor coverage
- Coverage for employees operating within the extent of duties
- Failure to disclose pollutants coverage
Real estate professional liability insurance coverage is available to real estate agents, brokers and independent consultants of real estate firms. It offers a level of risk protection that is specially crafted to meet the unique needs of the real estate industry.
Even Professionals Make Mistakes
The goal of real estate professional liability insurance is providing coverage for businesses that offer advice or a service. It protects you if a client is injured by a service or guidance that you provide and that you are found to be legally responsible. Business insurance specialists can answer your questions about the various policies and help determine your exposed risks.