Richie Alan  Naggar, agent & author  (people first...then business Ran Right Realty )

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3,386,186
Anna Banana Kruchten CRS, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

We had continuous E & O coverage when we owned a brokerage. Never needed to use it.  I would never have considered going without E & O.

Jul 31, 2022 11:02 AM
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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I have E&O insurance - have had it since day one becoming an independent broker. I would not choose to run my business without it. Thankfully, I have never had the need to use it ... BUT ... if I ever did have a need, like all insurance, I will be happy to know I have it. 

I never like writing those annual E&O premium checks which are costly in the State of California.  I know the premiums are far less than what I would pay if I had to defend a claim without it. 

Jul 31, 2022 11:35 AM
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Like life insurance, while I've never used it, I would also never be without it, Richie Alan!

Jul 31, 2022 11:05 AM
Rainmaker
938,105
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

I would never be without EO insurance even though I don't have to.

I've never had to use it. It's a tax write-off and it's not that expensive.

I believe my deductible is 5000 and that is fine.

Jul 31, 2022 10:55 AM
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Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

changed carriers last year because my old agent had retired and didn't like the new one at the old company, but still have continuous coverage for 27 years.  No claims during my brokerage ownership.  One when I was an agent for another broker but I was not involved.

Jul 31, 2022 02:07 PM
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Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate Brokered by Real - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

Insurance is necessary to have...you never know when an occasion may arise that warrants its use.

Jul 31, 2022 01:22 PM
Rainer
301,737
Don Baker
Lane Realty - Eatonton, GA
Lake Sinclair Specialist

our broker has it and we are covered as agents.  We pay a fee of $100 annually to help cover the costs, it's a very high and broad policy.  Not me, but my office did use it once.... and the case was dismissed by the judge, so our attorney while there really had to do nothing. Fees went up for a period after that, but not used in the past 27 years.

Jul 31, 2022 12:57 PM
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Roy Kelley
Retired - Gaithersburg, MD

I is required by the broker. I have never used it.

Jul 31, 2022 11:37 AM
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Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

I have never used my E&O Richie Alan Naggar . North Dakota does require some E&O and being an insurance minded person I always carried far more then the required.

Jul 31, 2022 01:13 PM
Rainmaker
807,925
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
Carolina Life RealEstate & Relocation 919-602-8489

Our brokerage has E&O. I hope I never need to use it.

Aug 01, 2022 06:29 AM
Rainmaker
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Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Debe Maxwell, CRS and I are on the same page in this one!

Aug 01, 2022 05:06 AM
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Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

My broker has it and I get billed for it annually but it doesn't cost me very much.

Aug 01, 2022 05:06 AM
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Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

All brokerages I've ever worked for require it.

Big Block Realty is the first thought that charges me less today than I used to pay in 1999. Love it BBR!

Jul 31, 2022 08:39 PM
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Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

All insurance is one sided, and yet we are required to buy in in the interest of protecting our brokers a

Jul 31, 2022 06:25 PM
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John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Our broker furnishes our E & O insurance. I don't know much about it. I want to keep it that way.

Aug 01, 2022 07:11 AM
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1,048,153
Doug Dawes
Keller Williams Realty Evolution - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Our brokerage provides it

Aug 01, 2022 07:22 AM
Rainmaker
687,523
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

I don't need anyone to require me to get E & O Insurance.  I wouldn't operate without it nor would I work with a company that doesn't have it.  One lawsuit could be financially disastrous.

Aug 01, 2022 10:46 PM