Colorado is one of several states where E&O Insurance for real estate agents is mandatory. The other states include Iowa, Idaho, Kentucky, Louisiana, Mississippi, North Dakota, Nebraska, New Mexico, Rhode Island, South Dakota, Tennessee and Wyoming. In Colorado, the average cost per year for basic mandatory Errors and Omissions Insurance runs from a little over $100/per year for some ala carte type insurers, to about $300 for the familiar E&O companies such as Rice Insurance, and Williams Insurance.
If you’re a lucky Colorado real estate agent, you work for a company like Park and Refer which provides a group mandatory E&O policy for its Colorado agents at no cost! Park and Refer is a referral agent brokerage serving Colorado, California and Texas agents.
Thank you! Doug Anderson, President Park and Refer, 888.470.0641