REO–Advisors

Real Estate Errors and Omissions Insurance

Errors and Omissions Insurance is a specific form of Professional Liability Coverage that covers mistakes made while acting in a professional capacity, on behalf of another party. For example, Real Estate Agents, acting on behalf of a seller, may misrepresent facts (an Error) or fail to disclose known information (an Omission) to a buyer. In many cases, the Agent can be held responsible for these mistakes.

Corporate General Liability insurance will generally not cover these claims. Most liability policies either cover only "accidents" (which is defined to exclude professional errors), or have explicit exclusions that rule out covering E&O claims. Therefore, in the current litigious environment, it pays for all Real Estate Professionals to carry adequate E&O Insurance.

For more information about Errors & Omissions Insurance, please contact REO Advisors. We have the experience to answer your questions about E&O coverage and to find the most affordable, effective coverage for your firm.

Apply online or call 800.753.3557.