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Ambassador
3,819,664
Anna "Banana" Kruchten
Retired Broker/Owner - 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
Ambassador
3,603,734
Kathleen Daniels, Probate & Trust Real Estate Svcs.
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

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
Ambassador
6,030,124
Debe Maxwell, CRS
Savvy + Company (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
1,179,557
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
Ambassador
3,283,482
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
Ambassador
3,512,341
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
Southern Utah's Preferred Real Estate Agent.

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

Jul 31, 2022 01:22 PM
Rainer
500,452
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
Rainmaker
8,793,582
Roy Kelley
Retired - Gaithersburg, MD

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

Jul 31, 2022 11:37 AM
Rainmaker
2,833,060
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
982,058
Carla Freund
Keller Williams Legacy - Cary, NC
NC Realtor - Senior & Luxury 919-602-8489

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

Aug 01, 2022 06:29 AM
Rainmaker
6,067,649
Wayne Martin
Wayne M Martin - Oswego, IL
Real Estate Broker - Retired

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

Aug 01, 2022 05:06 AM
Ambassador
5,581,384
Brian England
Ambrose Realty Management LLC - 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
Rainmaker
1,747,061
Thomas J. Nelson, REALTOR ® CRS,ABR,PSA,RCS-D, CFSP
Big Block LPT Realty 858.232.8722 - San Diego, CA
Coastal San Diego, Veteran's & Retirees Services

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
Ambassador
7,307,420
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - 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
Rainmaker
1,680,952
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
Rainmaker
1,380,524
Doug Dawes
Keller Williams Evolution - 447 Boston Street, Suite #5, Topsfield, MA - Topsfield, MA
Your Personal Realtor®

Our brokerage provides it

Aug 01, 2022 07:22 AM
Rainmaker
842,500
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
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