- Bridgewater, NJ
RPS offers a quick and easy rate, quote and bind online process featuring an A.M. Best A++ rated (Superior), Financial Class XV company. With a simple six-question application process, the Errors and Omissions (E&O) product for real estate appraisers offers limits of up to $1 million each claim and $2 million aggregate, and provides your clients with the protection they need to safeguard their businesses.
Appraisers Errors and Omissions Coverage Highlights
- Residential and commercial appraisals
- Broad definition of professional service, including incidental services as a notary public, member of a formal accreditation committee, standards review committee or similar board or committee
- Free extended reporting period for death, disability or retirement
- Defense costs outside the limits of liability
- Prior acts coverage with proof of continuous coverage
- No FDIC exclusion (except California)
- Deductible reduction incentive for early claims resolution
Appraisers Errors and Omissions Coverage Limits
- Limit options range from $300,000/$600,000 to $1 million/$2 million
- Supplementary payments:
- Reimbursement of expenses for loss of earnings at attendance of trial or hearing includes $250 per day and $5,000 per claim
- Reimbursement of expenses for board proceedings defense includes $3,000 per claim and $30,000 aggregate.
- Subpoena expenses are $5,000 per event.
- Discrimination coverage is $100,000.
- Electronic information damage coverage is up to $2,500.
- Professional reputation protection is up to $2,500.
- Supervisory appraiser coverage
- Appraisers premises coverage has $10,000 sub-limit
- Drone photography coverage has $10,000 sub-limit
Professional Liability Insurance Designed for Real Estate Appraisers
- Individual residential, commercial real estate appraisers
How the Real Estate Appraisers E&O Program Can Help Your Clients
RPS Signature Programs' team of industry experts can take on the most complex client needs with our exclusive programs offering specialized coverage for niche risks, including the unique professional liability insurance needs of agents, brokers, wholesalers, retailers, general agents, underwriting managers, surplus lines agents, life and health agents/brokers, and more.
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