Hello,
I want to ask about the errors and omissions insurance Michigan. Does anybody know what coverage an Errors and Omissions Insurance Policy provides to Michigan Real Estate Agents?
If yes, please reply.
Here are some of the coverage points it provides:
First of all, the Errors and omissions insurance offers coverage for the claims made against the real estate agents in Michigan due to an omission or fault in the performance of the professional services.
It is also responsible for the payment of all type of damages and claim expenses along with the covered claims.
Also, these policies are on a claim made basis, meaning that your current policy only covers the claims reported during the policy period.
Additionally, it offers lock-box coverage for claims which connects to the benefit of a keyless system of entry used to show properties.
