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Rainmaker
2,826,155
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

The small print is the domain of the prince of this world. He is in the details

Mar 26, 2022 05:45 AM
Rainer
195,689
Karen Climer
Demetree School of Real Estate - Orlando, FL
Teaching people to pass the real estate exam

I don't know of one that offers what you are looking for.

Mar 26, 2022 03:54 AM
Rainmaker
1,865,202
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

I believe that you must first defend yourself against the complaint. If it's untruthful, then you don't have to worry about the 5K. As far as I know that 5K has always been fairly normal.

 

You say it's a rip but it's there to keep agents honest & working for their clients. Think if they didn't have that clause.

Get your own attorney & start defending yourself.

Mar 26, 2022 06:09 AM
Rainmaker
1,513,143
Raymond E. Camp
Ontario, NY

Just like the government, they protect themselves from us!

Mar 26, 2022 05:48 AM
Ambassador
6,614,151
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Unfortunately insurance companies are designed to put money in their pocket, and seldom pay it out.

Mar 25, 2022 09:43 PM
Ambassador
3,405,010
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

I do not know of any insurance company that does not have exclusions and limitations to their policies.  

 

 

Mar 26, 2022 09:07 AM
Rainmaker
1,241,484
Doug Dawes
Keller Williams Evolution - 447 Boston Street, Suite #5, Topsfield, MA - Topsfield, MA
Your Personal Realtor®

Can't say that I do 

Mar 26, 2022 08:39 AM
Ambassador
3,233,273
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
The best agent in Southern Utah!

What Lyn Sims said.

Mar 26, 2022 08:02 AM
Rainmaker
8,074,872
Roy Kelley
Retired - Gaithersburg, MD

I was not familiar with this limitation. Good luck.

Mar 26, 2022 06:56 AM
Rainmaker
5,416,399
Wayne Martin
Wayne M Martin - Oswego, IL
Real Estate Broker - Retired

I am with Karen Climer on this one.

Mar 26, 2022 04:11 AM
Rainmaker
1,089,944
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

I will have to check and I do not believe my policy has any exemption like that (I have Great American)

I also agree with Lyn - make your first call to your office's attorney, THEN to your E/O carrier!

 

Mar 26, 2022 09:30 AM
Rainmaker
681,434
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

If it's all made up lies ... start by defending yourself. You know the Truth! Present it and if you can prove it -- the $5k doesn't even matter.

Mar 26, 2022 11:49 AM