Real Estate Errors and Omissions

photo of real estate agent holding mini houseInsurance for Real Estate Agents

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Insurance for Real Estate Agents: Professional Office Package

We offer Real Estate Agent Errors and Omissions coverage for real estate firms which derive at least 65 percent of their commission income from residential real estate sales. We can also package this with business owners under one policy with separate limits for each coverage.


Ineligible Real Estate Agents – Professional Office Package

Please note we cannot offer coverage to the following:

  • Applicants located in AL, AK, CA, CO, HI, ID, IA, KY, LA, MS, NE, NM, SD, TN, TX or WV
  • More than two errors and omissions claims or circumstances in the past five years
  • More than 10 percent of income from development/construction, one builder or developer, one location or development or sales of personally owned properties
  • More than 35 percent of income from commercial sales
  • More than 50 agents/brokers/independent contractors
  • More than $5,000,000 in commission income
  • Average value of properties exceeding $600,000
  • Disciplinary action against the principal of the firm that resulted in his/her license being suspended or revoked


Available Coverage for Real Estate Agents – Professional Office Package

  • $250,000 discrimination coverage (defense and damages)
  • Coverage for personal injury
  • Coverage automatically provided for the sale of any residential-owned property not developed/constructed by the insured
  • Named perils coverage for claims arising from use of Internet and e-mail
  • Defense outside the limit
  • $2,500/$5,000 for defense of insureds at local and state real estate boards
  • $50,000 lock box coverage


Coverage Limits Available for Real Estate Agents – Professional Office Package

  • Primary limits available up to $5,000,000

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Claim Example for Real Estate Agents – Professional Office Package

happy family in the front yard of their new house

As part of her representation services, a real estate agent prepared a mock closing statement for a client. This statement was meant as a guide for her clients to use to calculate the amount of cash needed to purchase a property in their price range. The statement contained errors, causing the buyer to save less than needed to close on the home. As a result, the sale did not go through at closing due to lack of funds. The buyer sued for misrepresentation.

A minority couple was relocating and used a real estate agent who they discovered on the Internet. The clients flew into the area to take a look at homes and discovered that they were only being shown homes in areas predominantly inhabited by minorities. When they asked if these were the only homes available that fit their criteria and price range, the real estate agent stated that these were the only properties available. Upset by this, the couple retained the services of another real estate agent. They discovered that there were many other properties available and sued the original real estate agent for discrimination.

A couple purchased an existing property and then after closing, discovered that there was termite damage that had not been disclosed. After getting a large repair estimate, they sued the real estate agent for failing to disclose this information.

A couple consulted a real estate broker to purchase a residence in which they could also run a daycare business. The broker made inquiries and showed them a townhouse, which they eventually purchased. After closing, the couple was told by the townhouse association that they were forbidden to use of the property for a daycare business. The couple filed suit for negligence.

A couple asked their real estate agent which school district the residence was located in. The real estate agent mistakenly told the couple the wrong school district. The couple purchased the property and discovered that their children were to attend a different/inferior school district. They sued this real estate agent for misrepresentation.

A couple purchased an existing property and then after closing, discovered there were high levels of radon in the house. Not wanting to risk the health of their two asthmatic children they immediately put the house up for sale and disclosed the radon levels. As a result, they can only get $200,000 of the $235,000 they paid for the house. They sue their real estate agent for not disclosing the radon levels and for their $35,000 loss. Covered under the Environmental Pollutants Coverage Damages and Defense.


Please note –
You must be an appointed Peachtree Special Risk Brokers, LLC retailer to use these programs. Quotes obtained via these programs will only be bound IF you are previously appointed producer with a currently executed Producer Agreement with any Peachtree office.  |  Also, you must be properly licensed with the State in which the risk is located, with a copy of your State license on file with us.  |  Prior to Binding, you must confirm with your local Peachtree office to determine any and all applicable taxes and fees.  |  No coverage is bound until confirmed in writing from a Peachtree representative.  |  Please contact a Peachtree representative if needed for additional pricing considerations on any quote received using these programs or if your submission has been declined.  – Thank you! –