Real Estate E&O Insurance Coverage

Real Estate is an enjoyable and rewarding career field to work in. It is an interpersonal-relationship centered business, where agents and brokers have the opportunity to meet and get to know many new people each month. It is satisfying for an agent to watch a family excitedly purchase their first home, or facilitate a transaction in which the buyers and sellers are both pleased. The ever-changing repertoire of real estate being shown by an individual agent also gives variety and interest to the everyday-life of a real estate agent. Real Estate is also a field involving high value assets and large amounts of money. This automatically makes it a risk-carrying professional field. Real Estate agents should always carry E&O insurance, even if they have never had any reason to use it before.

E&O insurance can cover errors, real and perceived, by real estate professionals, as well as associated court and legal costs. This can include the entire cost of a sale, or other amounts deemed necessary, up to the amounts specified in a given policy. Some companies offer policies that automatically include certain benefits, such as discrimination coverage, at no extra cost. Some insurance companies may offer discounts for arbitration agreements between individuals and real estate professionals. Insurance providers may also offer other programs or seminars about risk management that may be helpful in keeping insurance premiums low. Visit the Axis website for more information.

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