Part 1: How Does Errors and Omissions Insurance Protect Real Estate Professionals from Lawsuits?
As we mentioned, Errors and Omissions Insurance works like "malpractice" insurance for real estate agents. While that gives you a basic idea of what your coverage can do, you probably still have a number of questions. In this chapter, we'll answer some common questions realtors have about their E&O Insurance, including…
- What counts as "Errors and Omissions?"
- Why do clients initiate a dispute?
- What can you do to minimize the likelihood of being sued?
- How can Errors and Omissions Insurance reduce the cost of lawsuits?
Along the way, we'll look at case studies, real-life examples, statistics that show how much a lawsuit could cost your agency, and what steps you can take to prevent an E&O lawsuit.
Next: What Counts as "Errors and Omissions?"