Louisiana Real Estate Brokerage Errors & Omissions Insurance: Extensive Coverage + Legal Services
Deadline for 2025 E&O is 9/30/24
- A real estate brokerage E&O policy gives you more overall protection to $3 million
- Much higher coverage in critical risk areas
- Expert Legal Services Pre-Claim included, to help resolve issues before they escalate
Why not look into your options for better protection?
Many real estate brokerages have a company E&O policy for better protection
Consider your options now for 2025 Real Estate E&O
- Your real estate brokerage will qualify for higher limits than your individual licensees — so you get more protection
- You control the individual coverages in your plan, rather than just hope your licensees’ policies included all the critical risk areas.
- You can customize your policy to reflect your particular business risks
- Your licensees get better protection
- No tail coverage needed
Learn more about the differences in benefits of having a company E&O policy
Access to more options = more extensive real estate E&O protection for the best value
We’re part of one of the largest insurance brokers in the world — giving us unequaled access to more real estate E&O options than anyone. We do the shopping for you, to find you the best value in E&O coverage.
With CRES, you’ll also have the best claim prevention team on your side.
And your team will also enjoy CRES innovations for helping you win listings and dazzle buyers. Seller’s E&O Protection Plan and Building Permit History Reports help reduce your risk while helping you grow your business . . .
Your CRES Real Estate E&O Plan Makes You More Competitive
- Stand Out to Buyers— Your licensees can show buyers the permits on a property with CRES Building Permit History Reports (25 free each policy year). You’ll reduce your out-of-pocket claims expense up to $2,500.
- Win More Listings — with Seller’s Protection Plan. It protects your sellers with $25,000 of coverage for damages and defense costs up to 6 months after closingl
- Address Issues BEFORE They Become Bigger Problems Proactive Problem Resolution — You’ll have access to a local expert real estate attorney to help you resolve issues proactively with CRES Legal Services.
- Reduce Your Retention (out-of-pocket claims expense) — Use a CRES home warranty with up to $50,000 in Seller’s E&O, and reduce your out-of-pocket claims expense up to $5,000.* (Use both a CRES home warranty and Building Permit History Report and reduce retention up to $7,500*.)
- Coverage for Past Transactions — Your past transactions are covered for as long as you’ve had continuous E&O insurance with any company.
Which Louisiana Real Estate Brokerage E&O Plan Should You Consider?
The Louisiana Real Estate Commission (LREC) specifies Errors and Omissions Insurance limits depend on number of licensees. For firms with 1-5 licensees, required limits are $500,000/$1 million. For 6 or more licensees, $1 million/$1 million coverage is required. (Reference: Louisiana Real Estate Commission E&O Requirements.)
As a real estate brokerage, you have two options: 1. Choose an Office policy to protect all of your agents and employees, or 2. Choose an Excess policy and have your agents purchase their own E&O (from us or anyone they choose). We can help you decide what best meets your needs.
Real Estate E&O Office Policy
- Get as much protection as you need: limits up to $3,000,000
- Broad coverage and higher limits in individual coverage areas
- Choose your participation level: retentions (out-of-pocket claims expense) from $1,000 to $100,000
E&O Excess Policy
- Sits above the licensees’ limits to provide a full $1-3 million in coverage for a claim
- No additional out-of-pocket claims expense once the licensee’s retention has been paid
- Fixed annual premium
- Adds coverage for ex-licensees and employees
Revenue under $1 Million: Get a Quick Quote
* Seller’s E&O coverage and other benefits are feature-based and warranty specific. The E&O Retention (Out-of-Pocket Claims Expense) Reduction applies to any real estate licensed Real Estate Services Council Risk Purchasing Group, LLC. (“RESCRPG”) member who personally pays for the Home Warranty Plan. These benefits are offered by, and intended for, the members of RESCRPG. RESCRPG membership is part of your CRES E&O policy. Other warranties may also qualify for an E&O Retention Reduction, but only those warranties listed here are guaranteed to qualify. Not available in all states. Certain restrictions apply. Read each policy for a full comparison of coverage and benefits. All coverage is subject to Underwriting and other qualifications.