Real Estate Agent Errors And Omissions Insurance

Despite all your expertise, your experience and your diligence as a professional, Real Estate Errors and Omissions insurance is a necessity to protect yourself in case something goes wrong during a transaction. E&O insurance is a type of Professional Liability Insurance for businesses that provide a service for a fee, against claims for negligence, mistakes (or alleged negligence and mistakes) on your part.
Contract errors, incomplete disclosure, errors in zoning or in comparative market reports, inaccurate appraisal, title issues or bank mortgage errors are just a few of the claims than can occur. Your risk management plan may not be enough to protect you at every level of a deal.

Because there is no standard E&O Policy, each company writes its own and the terms may greatly vary: the risks themselves may not all be listed; the liability limit, the deductibles, the coverage may differ.