Real Estate Appraisers E&O

E&O Insurance Protects Appraisers’ Livelihood and Reputation

Real Estate Appraisers rely on Intercorp’s professional liability insurance to protect their livelihood and reputation—and their wallet as well.  The average cost to defend a claim can run about $20,000 to $30,000, and that does not include any indemnity payment, which drives the cost even higher.  Appraisers can budget for their E&O premium, but not the sudden financial impact of an E&O claim without a solid insurance policy.


Program Features For Real Estate Appraisers

  • Broad definition of Named Insured. (Including employees, officers, owners, subcontractors, and the entity itself).
  • Broad definition of Professional Services (no exclusion for reviews, measurements, photographs, and specific types of appraisals—vacant land, etc.)
  • Premises Liability Sub-Limit (bodily injury and property damage during the on-site review of the property).
  • Optional Appraisal Management Company endorsement.
  • Sub-Limits for Disciplinary Proceedings and Subpoena Assistance.
  • Generous Extended Reporting options (one to five years).  Plus—Retirement Extended Reporting for qualified insureds at no additional premium.



How do I apply for coverage?

You can apply online or give us a call for a ballpark quote or an application: 800-640-7601.  Office hours are 8:30 – 4:30 Eastern time.

What limits of liability should be purchased?

We recommend that you check with your clients to determine whether they require a specific limit of liability.

How long does it take to get a quote and bind coverage?

In most cases, we are able to quote and bind coverage within 24 hours of receiving a completed application, signed acceptance of the quotation and premium payment, along with outstanding items specified in the “Conditions” section of the quotation.

What payment options are available for Errors & Omissions insurance?

•    Option 1: Pay 50% to bind coverage, and the balance in 30 days. No fees or charges.
•    Option 2: Down payment of 25-30%, with the balance in quarterly or monthly payments. A finance charge applies. Ask for payment options when you request your quote.

Does the policy cover all types of appraising?

Yes, both residential and commercials real estate appraisers are eligible for coverage under this program.

Does the policy offer prior acts coverage?

Prior acts coverage is available in most cases if you can provide proof of uninterrupted coverage.  You will need to submit a copy of your current/expiring Errors & Omissions Insurance policy declarations page.

Do you provide coverage for appraisers who have had a claim or disciplinary action?

We review each account individually, as well as the details surrounding any claim or disciplinary action.  In most cases, we are able to offer a proposal for coverage.

What is a claims-made policy?

A claims-made policy defines how a policy responds to a claim.  In order for coverage to apply, you must have coverage in force at the time the appraisal is performed AND at the time the claim is made, with no lapse in coverage.

What happens when I am no longer appraising or retire?

An Extended Reporting Endorsement will be offered to you. This endorsement extends the period of time in which to file a claim under your policy.  We offer Extended Reporting Endorsements for periods of one to five years and an unlimited endorsement for qualified retirees.

What makes you different from other E&O providers?

Several things: First, our staff is knowledgeable, experienced, and responsive.  Second, we stay on the cutting edge of the profession, and provide extra coverages that you won’t find anywhere else.  And finally, we are a stable market for appraisers.  This program has been operating for more than 20 years, and our insuring company has been on the program for 15 years.  Claims handling is top-notch because of this continuity and experience.  


Our dedication to preventing claims is just as important as our assistance in guiding appraisers through the claim process when a claim occurs. The following resources are useful in helping you manage your business in such a way that should help to prevent errors and omissions claims.