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Finding Out More About Real Estate Errors And Omissions

Errors and omission insurance is one of the most important policies you can have, particularly for businesses. It aims to protect you as an employer from additional fees in case of accidents or mistakes with your end product In the future.

However, you must learn more about errors and omission insurance in terms of real estate. How different is the policy compared to standard E&O insurance? This article will give you an idea of what you can expect from E&O insurance for real estate.

All about Coverage

  1. Discovering Deductibles First of all, this particular insurance policy covers a variety of factors. You will be able to discover more about the deductibles, particularly when selling property or getting it from another real estate agent. These policies also have the defense of possible updates that you will get if you become a loyal customer of one insurance company.

  2. Scope and Limits It will cover you if you get sued by real estate investors in the future. You will get to save on legal fees and attorney fees, but you would need to pay off your team. Also, it will cover expenses on replacement or repair for any house that you might be selling via your own real estate company.

  3. Filing Early Just make sure that you can file the errors and omissions insurance claim as soon as possible before you do anything else. That way, the insurance company will be able to help you out of your legal troubles as soon as possible. Also, try to be clear and honest in your report. The insurance company will be more forthcoming in helping you out if you remain factual about the incidents you are filing for.

The Conclusion

The key is to make sure you are educated on Errors and Omissions policies. If you need help, contact our agents and we are happy to help make sure you understand your policy completely!

At Second Western Insurance Services, we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays and we're here to help you out. Learn more about our products and services by calling our agency at (818) 952-5203. You can also request a free quote by CLICKING HERE. The coverage discussed is not guaranteed. Please contact our agents to make sure you have adequate coverage and your needs are being met. We are happy to help!


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