Errors and Omission Insurance Could Save Your Business

Last month, an appraiser affiliated with my real estate office informed us that he would not be continuing to do business with us.  We all wanted to know if it was something we did or some other unknown reason.  We dug a little deeper and found that it was not our fault but something even worse for him.

He had made an error on one of his jobs and he got a claim filed against him.  It was a big deal made out of nothing, but it was enough to hurt this guy’s business to the point where he didn’t want to continue.  He didn’t have errors and omission insurance, so I wouldn’t be surprised if it wasn’t even financially viable for him to keep practicing.