NAR members have access to preferred pricing on errors and omissions insurance through Victor

Even with strong policies, careful documentation and experienced professionals, real estate transactions can come with unexpected risks. Errors and omissions insurance can provide an important layer of protection when a brokerage faces claims related to the professional real estate services it provides.

Through NAR REALTOR Benefits®, National Association of REALTORS® members have access to errors and omissions insurance from Victor, NAR’s exclusive E&O insurance partner, including preferred member pricing.

Errors and omissions insurance, commonly called E&O, is a form of professional liability insurance designed to help protect against claims involving inadequate work, professional mistakes or negligent actions. Depending on the policy and circumstances, coverage may include legal defense costs and settlements up to the limits established by the policy.

For a real estate brokerage, that protection can be an important component of a broader risk-management strategy. Even when a firm believes it acted appropriately, responding to a claim can require time, legal resources and significant expense.

Important: This Coverage Is for the Brokerage

GAAR members should understand an important distinction before requesting a quote: the E&O offering is written for the real estate firm or brokerage, not as a separate individual policy purchased by each broker within the firm.

Victor states that its program offers coverage for firms and sole proprietors, with the policy providing coverage for persons or entities rendering professional services on behalf of the applicant real estate firm, subject to the terms and conditions of the policy.

In other words, if you are a qualifying broker or brokerage owner exploring E&O options for your firm, this NAR member benefit may be worth reviewing. Associate brokers should work with their brokerage to understand the E&O coverage already in place and how it applies to their professional activities.

A Benefit of NAR Membership

Victor and NAR have partnered through NAR REALTOR Benefits® to provide an E&O insurance program specifically available to NAR members. Members may qualify for special pricing and premium credits where permitted by state law.

Potential premium credits may be available for factors including:

• NAR membership
• Select NAR designations
• Continuing education
• Use of standard contracts
• Use of home warranties
• Participation in risk-management programs
• Favorable claims experience

Eligibility and available credits can vary based on state law, the applicant and the policy.

Victor's real estate E&O program is available in all 50 states, Washington, D.C., Puerto Rico and U.S. territories, with specific policy forms, terms and availability varying by location.

Coverage Designed Around Real Estate

Victor's program is specifically built around professional real estate services and can accommodate a range of real estate specialties. Depending on the policy, eligible operations may include residential and commercial real estate, farm and land transactions, property management, appraisals, auctioneering and other professional services.

Coverage options, limits, deductibles, exclusions and eligibility vary, so brokerage owners should review the policy carefully and discuss their firm's specific activities and risks with an insurance professional.

Request a Free Quote

Brokerage owners interested in comparing their current E&O coverage or exploring a new policy can request a free, no-obligation quote through Victor.

Request a Free E&O Insurance Quote from Victor

There is no obligation to purchase coverage after requesting a quote. Taking a few minutes to review available options can help brokerage leadership better understand its current protection and whether additional coverage may be appropriate.

Please note: GAAR does not provide insurance or insurance advice. Coverage, eligibility, premiums, exclusions and policy terms are determined by the insurance provider. Members should review all policy documents and consult with a qualified insurance professional regarding their brokerage's specific needs.