Finance

We live in an extremely litigious era, and no matter how unintentional a mistake might have been, or how baseless a client’s claim might be, many people turn immediately to the courts and file law suits to seek some kind of compensation for damages real or perceived. This is where companies and individuals can turn to Errors and Omissions insurance for legal protection in these circumstances.

Everyone makes mistakes, right? However, if a home appraiser makes a mistake it can end up costing him or her and the person who purchased a home based on their appraisal hundreds to thousands of dollars. If the homeowner can prove the fault of the error lies with the home appraiser, then the appraiser will be responsible for the costs to the homeowner.

When it comes to insuring your business, it is always a great idea. This is true of any kind of business, but it is especially true of the real estate business. When you consider the fact that you have people’s hopes and dreams in the palm of your hand and every move that you make affects those hopes and dreams, it is very important that you carry error and omissions insurance to cover yourself if you should make an error in the process of appraising or selling the home.