Insurance for real estate appraisers.

Appraiser errors and omissions at the limits lenders and management companies require, plus general liability for inspections and cyber for the files you keep.

What appraisers usually carry

Appraisers errors and omissions
General liability
Cyber liability
Business owner’s policy
Hired and non-owned auto

Watch for these in an appraiser’s E&O policy

Claims when loans go badLenders often sue over a valuation only after a loan defaults, years later. Keep your retroactive date unbroken, and buy a tail if you stop appraising.
TraineesA trainee who inspects or drafts reports may need to be named on your policy. Supervisors are often named in claims over a trainee’s work.
Valuation bias claimsDiscrimination claims over a low value are a growing risk. Some policies cover only the defense, and fines are excluded.
Work outside lendingEstate, divorce, and litigation appraisals bring different claimants. Check that your policy covers non-lender work, not only mortgage reports.
Board complaintsMany policies pay to answer a complaint to your appraisal board, under a small separate limit. Know the amount.

What lenders and appraisal management companies ask appraisers for

A minimum E&O limitLenders and management companies each set their own, and ask for your declarations page before adding you to a panel.
Proof at every renewalMany panels pause assignments when coverage lapses, so renew before the expiration date.
Coverage for traineesSome ask that trainees be named on your policy before they inspect for them.

Questions appraisers ask

Straight answers.

The questions we hear most, answered plainly.

Does my E&O cover a claim that my value was too high?

Most appraiser policies do. It is the most common appraiser claim, often brought by a lender after a default, and the policy defends it and pays a covered loss up to your limit.

Am I covered if I damage something during an inspection?

That is usually a general liability claim, not E&O. A foot through a ceiling or a broken attic hatch is property damage, and many appraisers carry both policies for that reason.

Do I need cyber coverage as a one-person appraiser?

Your files hold borrower names, addresses, and loan details. A stolen laptop or hacked email can mean breach notices, which cyber pays for and E&O does not.