What You Should Know About E & O Insurance
Lawsuits are a part of everyday life living here in America. How do you protect yourself if you are a realtor. Most people think maybe I should purchase E & O insurance. Do you really think your brokers E & O insurance will pay to defend you, they will defend your broker but ultimately you are the one that is responsible. They may initially help you, but you need to check their policy and the fine print to see if you're really covered and who or what they will pay in a lawsuit. Just remember there are all types of lawsuits and if your brokers deductible is $20,000 and your broker is being sued because of something you supposedly did as an agent. Guess who is going to be paying that deductible, it will not be your broker, it will most likely be you since you are the one named in the lawsuit. When it's all said and done they will come after YOU and recoup all costs. Remember even if you don't know about something and it comes back later guess who is responsible for knowing all of this, you the realtor.
Here are the most frequent claims made against realtors, fraud, negligence, breach of contract, breach of duty, misrepresentation regarding floods or leaks, misrepresentation regarding the value of property, misrepresentation regarding the condition of the property, consumer protection act, bodily injury, property damage and earnest or escrow disputes.
How do you protect yourself as a real estate professional, take a look at what I offer as in legal service, some people compare this to insurance, I say its more of an assurance so you can worry less and live more. The company I work for is the industry leader in our market, has been in business for over 42 years and helped millions of people with legal issues by owning a membership. We have over 6900 dedicated attorneys nationwide ready to serve and protect you when these issues arise. By owning a membership for less than $20 personally or $40 for your business, you get unlimited legal advice, 24/7 emergency access to an attorney, contracts reviewed, letters or phone calls on your behalf, IRS audit legal services, trial defense service in case you are ever named in a lawsuit up to 300 hours are included with the membership, you can purchase more for an additional $10. You also get 25% preferred membership discount on what is not covered. & so much more. Click on this link to see how affordable this service is for you or your business http://www.jerrytolle.com
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