E & O Insurance for Real Estate Agents
Real estate agent e&o insurance is mandatory in most provinces and you may not be able to do work without it. Lawsuits can cost a business hundreds of thousands of dollars, which many professionals may not be able to recover from.
The following may be included in your real estate e&o insurance.
- Misleading or deceiving information
- Statutory breaches (only some)
- Negligence when providing services
- Inattention to property maintenance
Being a real estate agent or broker is rarely easy and buying or selling a property can be difficult. You are held to a certain standard when working with clients, which means you run the risk of having dissatisfied clients if there should be an error or mistake providing service. Risk management is a necessity to ensuring you keep your business going, but errors and omissions insurance for real estate agents can help to cover you if a mistake should happen.