What type of liability insurance would be suitable for a realtor to protect against professional risks?

Errors and Omissions insurance is specifically designed to protect professionals, including realtors, against claims of negligence, mistakes, or inadequate work while providing their professional services. For a realtor, this type of coverage is essential because it addresses risks associated with their role, such as errors in property listings, failure to disclose pertinent information about properties, or issues with contracts.

This insurance helps safeguard against financial loss arising from legal claims brought by clients, which can arise from disputes over the quality of service or alleged professional missteps. In the real estate industry, where transactions can be complex and involve significant financial stakes, having Errors and Omissions insurance allows realtors to operate with confidence, knowing they have a financial safety net should a client claim they were harmed by a mistake or oversight.

Other types of liability insurance, such as General Liability, primarily cover bodily injury and property damage, which are less pertinent to the specific professional risks faced by realtors. Fiduciary Liability focuses on claims related to breaches of fiduciary duty, while Directors and Officers Liability pertains to those in leadership roles within an organization. Neither of these other options adequately addresses the unique professional risks encountered by realtors, highlighting why Errors and Omissions is the most suitable choice in this context.