The REALTOR Benefits® Program Covers All of Your Insurance Needs
At special pricing and relax, knowing that you and your business are covered by reputable companies catering to real estate professionals. That includes the newest partner to join NAR’s REALTOR Benefits® Program, errors and omissions (E&O) insurance provider Victor O. Schinnerer & Company, Inc.“Insurance is essential for real estate brokers today. They need to protect their businesses from costly lawsuits, as well as find good personal coverage for their property and their health. With the insurance programs now offered by the REALTOR Benefits® Program, brokers can find excellent options in all these areas, at special members-only pricing,” says Bob Goldberg, NAR senior vice president, Marketing, Business Development, Commercial Services and Business Specialties Group.
Don’t Omit Your Errors and Omissions Coverage As a real estate broker, you know that an everyday mistake made by you or one of your employees could land you in court. Today, the average cost of a claim against a real estate firm is $15,000 when the plaintiff receives payment, but some lawsuits may end up costing hundreds of thousands of dollars. And that doesn’t include the time and money spent defending yourself.
Most brokers know that errors and omissions insurance can protect them against these costs. Now, new REALTOR Benefits® Program partner Victor O. Schinnerer & Company, Inc. offers E&O plans and pricing designed specifically for NAR members. Coverage is available to brokerage firms and individuals, and can protect you against the legal cost of mistakes made by you, your employees and independent contractors you hire.
“This program will be available to all real estate firms, regardless of specialty. Our errors and omissions coverage is available to commercial brokers, leasing agents and brokers, appraisers, property managers and other specialties. And it’s available in all 50 states, the U.S. Virgin Islands, Puerto Rico and D.C.,” says Schinnerer’s senior vice president, James Snyder.
For more information visit www.REALTOR.org/RealtorBenefits .
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That includes the newest partner to join NAR's REALTOR Benefits® Program, errors and omissions (E&O) insurance provider Victor O. Schinnerer & Company, Inc. “Insurance is essential for real estate brokers today. They need to protect their businesses
NAR Signs Up For New Errors And Omissions Insurance Benefit
Realtors® now has access to an errors and omissions insurance program from the National Association of Realtors®’ newest REALTOR Benefits® Partner, Victor O. Schinnerer & Company, Inc.
“Realtors® help consumers invest in their future through home ownership,” said NAR President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I. “E&O insurance helps Realtors® protect their own business investment while they’re helping buyers, sellers and investors achieve their real estate goals.”
Coverage is available to members in all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands through Continental Casualty (CNA), a top-rated insurance carrier. Rates vary based on the type of coverage needed, area of specialty, and previous claims history. The program offers a wide range of deductibles and claim limits as well as several premium credits, as allowed by state law. This includes a credit for being a Realtor®, holding select NAR designations, continuing education, use of standard contracts, use of home warranties, and risk management programs. Schinnerer’s program also supports a broad range of real estate specialties including residential and commercial, property management , appraisal, and more.
“NAR is pleased to work together with Schinnerer to provide a first-class program for Realtors®,” said Bob Goldberg, NAR senior vice president of Marketing and Business Development, Commercial Services and Business Specialties. “With over 28 years of real estate errors and omissions insurance experience, Schinnerer has developed a program proven to adapt to our dynamic real estate industry. Schinnerer also understand the fluidity of the market and continually researches the industry to observe trends, adjusting their policies to match.”
Coverage was recently updated to include use of the Internet, such as websites, social networking, video hosting, and blogging. In addition, educational pieces and risk management services are available to policyholders. Schinnerer has developed a toolbox that includes a risk management newsletter, blog updates, webinars, and a toll-free hotline to discuss potential claims with a real estate claims specialist.
“We are thrilled to offer this quality program to Realtors® across the country,” said Jim Snyder, Senior Vice President and manager of Schinnerer’s Real Estate E&O Program. “We are well-versed in the real estate industry and understand the potential liabilities Realtors® face. Our errors and omissions coverage can provide members with peace of mind and a sense of security.
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