How a Small Error Can Lead to Major Losses for Realtors

There are few career paths as lucrative or as demanding as that of the realtor. If you’re looking to put in long hours and walk away with a sizable income, this is definitely a great fit for you. However, you also need to think about the many risks involved in this industry. Though nobody is forcing a buyer’s hand, you could be held liable when an investor feels that he or she has been duped in some capacity when buying real estate through you. In this scenario, you will absolutely need to rely on the right insurance coverage.

What Is E&O Coverage?

One of the most important components of insurance for real estate agents and agencies is E*O coverage. Errors and omissions insurance is structured for events where a miscommunication happens due to an important piece of information being incorrect or omitted entirely. To get a feel for what to expect with this option,  review the cost of errors and omissions insurance for realtors. This will provide you with perspective on how this coverage can help you discover peace of mind. Other insurance options worth your time include: 

  • Directors and officers coverage
  • Cybercrime liability
  • Commercial auto options

Protect Your Future

Though there are countless risks involved in operating a business, there are also just as many solutions. Stay protected in the world of real estate by reviewing all angles and covering yourself in the event of a minor error.