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John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

Mandatory and a must have.  

Jul 28, 2015 09:25 AM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Richie Alan Naggar author of books on Life-Love-Intimacy-Purpose E&O is one of those things that doesn't seem to have much value until you need it. Read the policy carefully. It doesn't cover a lot of things you may think it does. No, I have never had to use it.

Jul 28, 2015 07:21 AM
Toronto, ON

E&O insurance is mandatory in my province and must be purchased by every registrant through the regulator.

Jul 28, 2015 10:33 PM
Jeanne Feenick
NextHome Premier - Basking Ridge, NJ
The Agent you choose REALLY does make a difference

Agree, mandatory and a must have. I've not had to call upon it up to now, thank goodness, but can't imagine operating without the comfort of it in the background.

Jul 28, 2015 10:17 PM
Wayne Zuhl
Remax First Realty II - Cranford, NJ
The Last Name You'll Ever Need in Real Estate

We've never had to use it, thankfully. But I'm sure glad it's there!

Jul 28, 2015 10:06 PM
Richard Weeks
Dallas, TX
REALTOR®, Broker

For the most part our state real estate commission requires it.  Unfortunately we have had to use it.

Jul 28, 2015 09:36 PM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Richie. Yes, had to use it once many years ago. Required for my licensing.

Jul 28, 2015 07:37 PM
TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspectons - Nashville, TN area - 615.661.029

 Good Wednesday morning Richie. It is mandatory in our state. I had to call upon it once. One of my inspectors had a bad hair day.

Jul 28, 2015 07:22 PM
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

Oh thank goodness I've never had to use my insurance. Knock on wood. 

Jul 28, 2015 04:36 PM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Richie Alan Naggar Broker Ran Right Realty  it is important for brokers for sure. As an agent, I never have used this - however, I am sure, this is a MUST in this litigation age.

Jul 28, 2015 02:31 PM
Eric Kodner
Madeline Island Realty - La Pointe, WI
CRS, Madeline Island Realty, LaPointe, WI 54850 -

Important?  Yes.  Are all providers the same?   Absolutely not.

Some of the biggest and most aggressive E & O companies offer coverage that is full of loopholes. Brokers need to be smart and need to shop for coverage that is worth what they pay for it.

Another problem is that E & O providers offer few if any rewards for the agent or brokerage with few or zero incidents requiring a claim.  Where is the premium reduction for an office with a perfect record?  There is also no discount or credit when agents have extra education or training in risk reduction or fair housing law.  No incentive means that these E & O companies really do not care whether an agent is competent or careful.

Jul 28, 2015 02:27 PM
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

I think it is very importnt, even though I haven't had to use it.  Health insurance and car insurance works the same way....we pay but hope we never have to use it.

Jul 28, 2015 01:38 PM
William Feela
Realtor, Whispering Pines Realty 651-674-5999 No.

Very Very important...I did have one person try and strong arm me, but once I showed their attorny all the paperwork they dropped the case.  But, it they ahd tried to go on, I would have been using it.

Jul 28, 2015 01:16 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Luckily, I have not have to ever make contact with my E & O insurance provider! 

Jul 28, 2015 12:07 PM
Stefan Winter
Real Estate in IL & NV | Owner of Real Estate Web Tech | Daily Vlogger - Las Vegas, NV
Owner - Winter Group & Real Estate Web Tech

It's mandatory, so I would say it's a must have to be legal. Never had to call on it and hope to never have too, hopefully it's just a fee I pay every month and everyone stays happy.

Jul 28, 2015 12:07 PM
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

Extremely and yes and no.  When I purchased the firm I own a suit had been filed with my firm as a plaintiff.  But in the end when it got to court the case was found to be without merit.  

Jul 28, 2015 11:44 AM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

In TN you cannot have a license without it and no I have never had to use it, thank goodness. I opt to pay for higher liability levels just in case.

Jul 28, 2015 10:53 AM
Evelyn M Epperson
Coldwell Banker Residential Brokerage - Johns Creek, GA
A Tradition Of [Excellence, Trust & Service]

E & O is exteremly important.  It covers your butt if you get in trouble.  I have never had to use my E & O insurance.  

Jul 28, 2015 10:31 AM
Tamra Lee Ulmer
Arizona Resource Realty - Payson, AZ
NRBA ~FORCE~ Over 1000 REO Assets SOLD!

My E & O Insurance is Mandatory, and critical. I've never had to use it, and never will, I hope not....I'm confident I won't need to call upon it, but the answer is..yes Richie, it is very important to have it.

Jul 28, 2015 07:31 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

E & O insurance is required in our office. I have never had to use it.

You should not be in this business without insurance coverage and E & O is only part of what is needed. 

Jul 28, 2015 07:21 AM