Mandatory and a must have.  

Richie Alan Naggar author of books on Life-Love-Intimacy-Purpose E&O is one of those things that doesn't seem to have much value until you need it. Read the policy carefully. It doesn't cover a lot of things you may think it does. No, I have never had to use it.

E&O insurance is mandatory in my province and must be purchased by every registrant through the regulator.

Agree, mandatory and a must have. I've not had to call upon it up to now, thank goodness, but can't imagine operating without the comfort of it in the background.

We've never had to use it, thankfully. But I'm sure glad it's there!

For the most part our state real estate commission requires it.  Unfortunately we have had to use it.

Good morning Richie. Yes, had to use it once many years ago. Required for my licensing.

 Good Wednesday morning Richie. It is mandatory in our state. I had to call upon it once. One of my inspectors had a bad hair day.

Oh thank goodness I've never had to use my insurance. Knock on wood. 

Richie Alan Naggar Broker Ran Right Realty  it is important for brokers for sure. As an agent, I never have used this - however, I am sure, this is a MUST in this litigation age.

Important?  Yes.  Are all providers the same?   Absolutely not.

Some of the biggest and most aggressive E & O companies offer coverage that is full of loopholes. Brokers need to be smart and need to shop for coverage that is worth what they pay for it.

Another problem is that E & O providers offer few if any rewards for the agent or brokerage with few or zero incidents requiring a claim.  Where is the premium reduction for an office with a perfect record?  There is also no discount or credit when agents have extra education or training in risk reduction or fair housing law.  No incentive means that these E & O companies really do not care whether an agent is competent or careful.

I think it is very importnt, even though I haven't had to use it.  Health insurance and car insurance works the same way....we pay but hope we never have to use it.

Very Very important...I did have one person try and strong arm me, but once I showed their attorny all the paperwork they dropped the case.  But, it they ahd tried to go on, I would have been using it.

Luckily, I have not have to ever make contact with my E & O insurance provider! 

It's mandatory, so I would say it's a must have to be legal. Never had to call on it and hope to never have too, hopefully it's just a fee I pay every month and everyone stays happy.

Extremely and yes and no.  When I purchased the firm I own a suit had been filed with my firm as a plaintiff.  But in the end when it got to court the case was found to be without merit.  

In TN you cannot have a license without it and no I have never had to use it, thank goodness. I opt to pay for higher liability levels just in case.

E & O is exteremly important.  It covers your butt if you get in trouble.  I have never had to use my E & O insurance.  

My E & O Insurance is Mandatory, and critical. I've never had to use it, and never will, I hope not....I'm confident I won't need to call upon it, but the answer is..yes Richie, it is very important to have it.

E & O insurance is required in our office. I have never had to use it.

You should not be in this business without insurance coverage and E & O is only part of what is needed.