I'll be joining as a real estate appraiser in Tx. I've been advised to apply for E&O insurance. Will it really be useful for professionals like me?
Total Comments: 4
Posted: Tue Jan 19, 2010 06:12 am Post Subject:
See chances are there that when you'd face a lawsuit filed by someone, you'd also face a complaint that they might register with your state RE commission. Under such circumstances, E&O insurance could be of great help to you!
You must consult with an agent regarding the liability limits that you'd need to maintain.
Posted: Tue Jan 19, 2010 09:02 am Post Subject:
As a real estate agent if you're negligent towards your duties, then you may face a lawsuit some day. E&O insurance covers you for claims that may arise due to such negligence.
Posted: Wed Jan 20, 2010 06:44 am Post Subject:
Hi,
I guess there are some possible coverage exclusions resulting out of the following types of claims.
1. Claims referring to any of your malpractices as an insurance professional.
2. Claims referring to any of your activities leading to death or injuries caused to another person.
3. Claims referring to your activities that may have caused damage to someone else's property.
Posted: Thu Jan 21, 2010 09:48 am Post Subject:
You could certainly recommend any action to your buyer that you might think would be necessary for him. Get all recommended actions signed by him. This would certainly help you if in the future he comes complaining about the problem.
Posted: Tue Jan 19, 2010 06:12 am Post Subject:
See chances are there that when you'd face a lawsuit filed by someone, you'd also face a complaint that they might register with your state RE commission. Under such circumstances, E&O insurance could be of great help to you!
You must consult with an agent regarding the liability limits that you'd need to maintain.
Posted: Tue Jan 19, 2010 09:02 am Post Subject:
As a real estate agent if you're negligent towards your duties, then you may face a lawsuit some day. E&O insurance covers you for claims that may arise due to such negligence.
Posted: Wed Jan 20, 2010 06:44 am Post Subject:
Hi,
I guess there are some possible coverage exclusions resulting out of the following types of claims.
1. Claims referring to any of your malpractices as an insurance professional.
2. Claims referring to any of your activities leading to death or injuries caused to another person.
3. Claims referring to your activities that may have caused damage to someone else's property.
Posted: Thu Jan 21, 2010 09:48 am Post Subject:
You could certainly recommend any action to your buyer that you might think would be necessary for him. Get all recommended actions signed by him. This would certainly help you if in the future he comes complaining about the problem.
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