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Errors and Omissions Insurance for California Real Estate Agents

(For real estate agents in states other than California, please use the menu above.)

We offer errors and omissions insurance (E&O) to California real estate agents. Our goal is to provide you with excellent service by providing you with errors and omissions coverage promptly at a reasonable cost.

Call us at 1-877-245-5887 if you have any questions or wish to discuss your insurance needs. We're looking forward to earning your business.

What Coverage does an Errors and Omissions Insurance Policy provide California Real Estate Agents?

Errors and omissions insurance provides coverage for claims made against California real estate agents by reason of an error or omission in the performance of professional services. Errors and omissions policies provide for the payment of damages and claim expenses (including defense) in connection with covered claims.

Errors and omissions policies are provided on a claims made basis, which means that the current policy covers claims reported during the policy period, as long the the error or omission which gave rise to the claim was on or after the retroactive date.

Some errors and omissions insurance policies offer lock-box coverage for claims connected to the use of a keyless entry system used to show properties. Coverage for open houses may also be available and offers protection for claims related to the showing of a property by the California agent to multiple prospective buyers at the same time.

Some other limited coverages offered by errors and omissions policies may include disciplinary actions and subpoena expenses. The disciplinary action coverage provides limited protection related to a proceeding before a state licensing board, or professional board, in connection with an agent's alleged misconduct. The subpoena expenses action coverage provides limited protection to assist California agents in responding to subpoenas.

The scope, coverage and exclusions of errors and omissions insurance policies vary from carrier to carrier. California real estate agents should therefore review the entire policy, including all endorsements, before making their purchase.

How are Policy Limits stated in Errors and Omissions Insurance Policy?

Errors and omissions policy limits are usually stated by a combination, such as $500,000/$1,000,000. In this case, the policy would provide up to $500,000 in coverage for each claim and $1,000,000 for the policy aggregate. The policy aggregate is the maximum that the insurance company will pay during the policy year regardless of the number of claims.