Errors & Omissions (E&O) Insurance for Real Estate Professionals

If you’re a real estate professional who works with clients, an errors and omissions (E&O) insurance policy – also known as professional liability insurance – can help protect your reputation, your business, and your wallet.

As a professional in the real estate industry, there’s always a risk you could be sued for a mistake or oversight. Learn how E&O real estate insurance from Berxi can give you the financial support you need to survive a lawsuit – and the peace of mind to ensure your business thrives.

What is errors and omissions insurance in real estate?

E&O real estate insurance is a type of professional liability insurance specifically designed for those who work in real estate, such as brokers and agents, as well as those in real estate-related fields, such as inspectors, appraisers, and mortgage brokers. Your work revolves around large financial decisions – whether it’s a family spending their life savings on their first home or a company investing in a new commercial property, you deal with enormous financial transactions on a daily basis. Transactions of this size come with a certain amount of risk – and often, that risk is beyond your control.

That’s where errors and omissions insurance comes in. If a client claims you made a costly mistake or were negligent, your E&O policy can provide you with legal counsel to defend against claims or lawsuits, as well as the funds to pay for damages you may owe. Depending on your insurance company and the policy you choose, real estate E&O insurance can also provide additional coverage to protect your reputation, reimburse you for lost wages, and defend you against challenges to your professional license.

Why do real estate professionals need errors and omissions insurance?

The costs of defending or settling even a trivial claim can be substantial. It can also create a distraction from running your business. Real estate E&O insurance helps minimize the disruptions and out-of-pocket costs that come with such claims, while supporting you through every step of the process. Having the right real estate insurance coverage can give you the peace of mind and confidence you need to focus on growing your business.

Who needs real estate errors and omissions insurance?

In many states, E&O insurance is required for real estate agents. But whether or not E&O insurance is required in your state, it can be essential for all kinds of real estate professionals and businesses, from appraisers to brokerages and beyond. Berxi offers E&O insurance for the following professions:

Real estate brokerage franchisees
• Mortgage brokers
• Residential & commercial inspectors
• Residential & commercial appraisers

What does errors and omissions insurance cover in real estate?

If a client files a claim or sues you for an unintentional negligent act or omission, E&O real estate insurance can cover the cost of defending yourself against the claim, as well as the settlement amount or damages that you may have to pay. Depending on your policy, expenses covered by a typical E&O policy might include:

• Attorneys’ fees
• Arbitration costs
• Expert testimony fees
• Court costs and costs of attending trials
• Settlement and judgment costs
• License protection (if a licensing authority investigates you)
• Wage loss for time spent on your defense

So what does errors and omissions insurance look like in practice?

Here’s an example: If a real estate brokerage franchisee accidentally publishes the incorrect square footage for a home they’ve listed, an unhappy buyer might sue over that error. If the brokerage had E&O insurance, their policy might typically cover the cost of legal proceedings and outcomes. In cases like these, E&O real estate insurance can be a financial lifesaver.

How much does errors and omissions insurance cost for real estate professionals?

The cost of your E&O real estate insurance policy will depend on:

• Your profession and business type
• Where you operate your business
• How much revenue your business generates
• Whether there are any previous claims filed against you

Because Berxi offers insurance directly to our customers, we’ve eliminated many of the fees typical in E&O insurance purchases. That means you’re able to save an average of 15% vs. industry standards.

Of course, the quickest and easiest way to see how much real estate insurance will cost is to compare quotes. Get a quick online insurance quote from Berxi in minutes.

Get comprehensive E&O insurance from Berxi

At Berxi, we’re making it easier and more affordable for professionals in the real estate industry to get high quality, comprehensive E&O insurance that’s customized to your needs. With coverage for things like open house liability, reputation defense protection, and property management services for qualified brokers, our real estate E&O policies go above and beyond. Plus, you can save up to 15% with Berxi. And as part of Berkshire Hathaway Specialty Insurance Company, which has a financial strength rating of A++ (Superior), we have the resources and expertise to make sure you’re protected for the long term.

Key coverage features of a Berxi policy

Comprehensive E&O coverage

Berxi offers limits of liability up to $1 million per claim and $2 million aggregate, meaning you’ll potentially be covered for up to $2 million in settlement and defense costs over the course of your policy.

Consent to settle

We work with your defense attorney to reach the best possible outcome for you, and we won't settle a claim without your approval.

Defense for disciplinary proceedings

If you’re investigated by a professional regulatory organization, you’ll be covered up to $25,000 per policy period for defense.

Wage loss/deposition expense coverage

If you’re required to attend hearings, depositions, or other proceedings, we’ll reimburse you up to $1,000 per day for lost wages and expenses.

Optional policy add-ons

Including general liability insurance and cyber insurance.

Available coverage enhancements for real estate franchisees

• Open house and real estate showings liability
• Failure to disclose pollutants liability
• Fair Housing Act liability
• Property management services for qualified brokers
• Subpoena and witness testimony expenses
• Public relations expenses
• Deductible waivers

Why choose Berxi?

E&O real estate insurance from Berxi is built to be different. We simplify the insurance process by offering top-rated coverage directly to you, all in a few clicks. We make insurance easier – easier to understand, easier to buy, and easier to afford. And we’re part of Berkshire Hathaway Specialty Insurance Company, so our financial stability and expertise are unmatched.

We can save you 15%

Berxi is a direct-to-customer insurer. This means we’re not just the people who sell you an insurance policy – we’re also the people who handle your claim. Working directly with us eliminates many fees that are typical in insurance transactions, and we pass the savings along to you. In fact, our customers save an average of 15%.

You get 24/7 online access

At Berxi, you can manage every aspect of your coverage through our easy-to-use online portal. Not only can you get a quick quote and purchase your policy in just a few clicks, but once you’ve purchased a policy, you can also access documents, update your account information, and manage your payment options online. And if you ever need to file a claim, you can do that online too.

We have world-class customer support

When you call our support line, you won’t have to navigate through an endless phone tree or argue with a robot: You’ll reach one of our in-house product specialists who will work hard to answer all your questions. And if a claim is ever filed against you, our team will help you to navigate the claims process, every step of the way.

Claims is what we do

Berxi’s E&O policies are backed by Berkshire Hathaway Specialty Insurance Company, which has an A++ (Superior) financial strength rating. Our market-leading stability and claims service means we’ll have your back when you need us.

What Our Customers Are Saying

“Berxi was recommended to me by a friend at another company, and now it seems that everyone where I work has them too! The quoting process was easy… and the price is better than anywhere I've found.”


– Jeremy B.

“Completely stress-free setup and customized to my needs. So easy I didn’t even need to talk to anyone!”


– Che H.

“[My claims representative] was so compassionate. He listened and kept me informed on the status of the case. He really cared about what I was going through and reassured me that Berxi was on my side and that I didn’t need to worry.”


– Kim P.

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