Real Estate E&O (Errors and Omissions) Insurance

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Updated: March 27, 2025 . 4 min read

Written by Ofir Sahar

CEO & Founder

Ofir Sahar

CEO & Founder

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Whether you’re a real estate agent,the real estate industry can be a gateway to a huge amount of profit. However it can also expose you to a lot more risk than most other industries. This risk is typically financial, since there’s a relatively high chance of getting sued if something goes wrong. real estate EO insurance policies are going to be the focus of today’s article. 

This article focuses on what an E&O insurance real estate policy can do for you and your business.  We’ll also look at the average cost of e&o insurance for real estate agents that professionals can expect to pay for coverage.  Finally, we’ll explore some of the best real estate E&O insurance companies.

E&O Insurance for Realtors

real estate e and o insurance policies are relatively common amongst real estate agents and investors. In fact, these policies are required by agents in nearly 15 states. Realtor errors and omissions insurance applies when you make a mistake while you’re dealing with a customer. This policy will pay for the damages as well as any legal fees that resulted from the situation.

Real Estate Errors and Omissions Insurance per Transaction

different companies have different billing methods. Cheap E&O insurance for real estate agents is usually sold per transaction instead of per month, ensuring that you only pay when you actually need the coverage. This makes the most sense because you won’t need E&O coverage if you’re not making any deals. Another advantage to paying for real estate e&o insurance per transaction is that there are limits per year, usually capped out at between $400 and $600.

Real Estate Broker E&O Insurance Cost

When considering the errors and omissions cost real estate policies, there are a few different factors to consider.

  1. The number of transactions

Real estate E & O insurance gets more expensive with each transaction conducted. your insurance premiums are directly correlated with the risk of the insurer, higher risk usually means higher premiums.

Company Cost per month Cost per year
eXp Realty $85* $1020**
Rice Insurance $56 $672
Keller Williams $33 $396

Best E&O Insurance for Appraisers

Real estate appraiser E&O insurance is usually a little more affordable than E&O coverage for real estate agents, though once again, the cost of insurance will vary from person to person. The factors we mentioned above will also apply in these cases.

Best E&O Insurance for Realtors

Rice 

 Rice Insurance Services Center is a company that specializes in mandated E&O insurance for real estate professionals.  Rice Insurance Policy Details The Rice E&O policy is underwritten by Continental Casualty Company and it covers legal fees and damages related to mistakes and negligence on the part of the real estate professional. Rice’s policies vary based on the state that you’re getting insured in since every state has different guidelines.

Pros:

  • Available in most states where E&O is required
  • Their average real estate e&o insurance cost are Relatively affordable
  • Covers legal fees and damages

Cons:

  • Underwritten policies

Average cost: $56 per month Our Rating: 4.5/5

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eXp Realty E&O Insurance

eXp Realty works with residential real estate agents. They aren’t afraid to embrace progress, taking advantage of the internet far more than their competitors. eXp Realty offers the same rate for E&O coverage to all of their members, though you’ll also have to pay for the additional cost of membership.  Pros:

  • Low price
  • Maximum limit of $500 per year
  • Additional benefits to membership

Cons:

  • You have to pay extra for membership

Average cost: $40 per transaction Our Rating: 4.⅗

Keller Williams 

It is one of the largest real estate companies in the world, and they’ve been in business since 1983. Even though they’re not an insurance carrier themselves, Keller Williams has a partnership with Austin and Austin Insurance Services so that they can provide their members with E&O coverage. Pros:

  • $2 million limit
  • Good price
  • Applies to commercial sales too

Cons:

  • Doesn’t cover all legal fees

Average cost: $33 per month Our Rating: 4.5/5

About the author

Ofir Sahar

Ofir is the founder and CEO of Insuranks. He established Insuranks in 2019 from scratch and has been running educational insurance websites since 2009 on a mission to help businesses...See full bio.

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