Real Estate Appraiser E&O Insurance (2024)

Real Estate Appraiser E&O Insurance Program Highlights

(Specific coverage details vary by program, please ask your OREP agent.)

Minimum Premium: $401, including Prior Acts coverage with proof of continuous insurance
“A” Rated Carrier
Zero Deductible
Free Bodily Injury/Property Damage (BIPD) Coverage for the Subject Inspection
Coverage for Residential, Commercial & Trainee Appraisers (in all states)
Coverage Included for Measurement, Review & Hybrid Appraisals
Free Pre-Claims Assistance
$10,000 Disciplinary Proceedings Coverage
$25,000 Subpoena Assistance
Loss of Earning: $500 a day, $10,000 maximum
Free Extended Reporting Period Options available for Retirees, Disability or Death
Group Coverage for Two or More Appraisers
Combination Policy Covering Appraising and Sales
AMC Extension Coverage
Trainee Add On Coverage
General Liability / Business Owner’s Policy (BOP) available.
And much, much more!

SPECIAL in 2023:OREP Insureds | Members Enjoy14 hours ofFREECE($238 Value: Approved Continuing Education for Appraisers in46 states).

Why OREP

Experience:OREP is a leading provider of Real Estate Appraiser E&O insurance nationwide, serving Real Estate Appraisers for over 20 years with over 100,000 policies issued.

Coverage and Rates:OREP offers Broad E&O Insurance coverage designed specifically for Individual Real Estate Appraisers or Appraisal Firms, including coverage for State Board Complaints, Residential/Commercial, Right of Way, hybrids and more. Coverage for AMCs and Trainees can be added with a click. See Coverage Highlights for more coverage details including free risk management and pre-claims assistance.

Fast, Courteous Service:Fully StaffedandFully Automated: Apply online in minutes or call for live help--we answer the phone! We’re fully staffed and here to help. Most Real Estate Appraisers qualify for OREP’s self-rating application, which doesn’t require quoting. Choose your Limit/Premium and get back to work fast!

Support and Risk Management:OREP provides unrivaled professional support, including 14 hours of FREE Risk Management Continuing Education (CE), free training webinars, free State Board Complaint Consulting, free Pre-Claims Assistance, guaranteed delivery ofWorking REmagazine, a Corporate Savings program with discounts on office supplies, cell phone bills, and much, much more! See

Business Supporttab for details.

Appraiser Advocacy and Leadership:OREP has published Working RE magazine for over 20 years, providing honest reporting, unique insight and potent advocacy for appraisers nationwide. WRE has walked with appraisers and helped them thrivethrough the many changes the profession has faced (and continues to face!). Along the way, WRE has changed the conversation through landmark surveys and feedback forums that give a strong, national voice to the independent, boots-on-the-ground real estate appraiser.

Find Surveys:2017 Customary and Reasonable Fee Survey, theAppraiser Independence Survey, the2011Customary and Reasonable Fee Survey, theHVCC Survey, and much more!

**Association Endorsem*nts**

OREP, a leading provider of appraiser E&O insurance nationwide, has been endorsed by the National Association of Appraisers (NAA) as the preferred provider of E&O insurance for NAA members.

OREP is the preferred provider of Appraiser E&O and General Liability insurance forthe National Association of Real Estate Appraisers (NAREA).

OREP is the preferred provider of Appraiser E&O and General Liability insurance for the National Association of Review Appraisersand Mortgage Underwriters (NARA/MU).

SPECIAL in 2022:OREP Insureds/Members Enjoy14 hours ofFREECE($238 Value: Approved Continuing Education for Appraisers in46 states).

Business Support

Guaranteed Delivery of Working RE Magazine ($50 value)

OREP insureds receive afreesubscription toWorking RE Magazine, the largest circulation print magazine for appraisers in the country, including free access to over 250 premium content articles ($50 value).

“Working RE is one of the best sources of contemporary information available to appraisers. I look forward to receiving it and digest it from cover to cover. Most appraisers feel as I do, that your work does us a great service and is sincerely appreciated.”—Paul J. Carist, SRA

FREE and Discounted Appraiser CE

Appraisers insured through OREP enjoy 14 hours of FREE risk management Continuing Education ($238 value), as well as discounts on other coursework through theOREP Education Network, including McKissock. Save hundreds of dollars at theOREP Education Networkon high-quality CE classes with the latest information and advice from industry experts. Save $20-$30 per CE course and more when you bundle. Don’t miss these great classes, including:

How to Support and Prove Your Adjustments(7 Hours)
Identifying and Correcting Appraisal Failures(7 Hours)
How to Raise Appraisal Quality and Minimize Risk(7 Hours)(FREE TO OREP Members)
FHA Appraisal Standards(7 Hours)(FREE TO OREP Members)
Navigating California’s Laws and Regulations(4 Hours)

McKissock Discount

All OREP Members can now save 10% off McKissock Membership, including USPAP. Flexible learning, world-class appraisal content, and professional development, all for a fraction of the cost. Emailsubscription@workingre.comfor your discount code.

“I have been waiting 15 years for a class like this. Thanks again for a very informative class.”—Scott G.

Free State Board Complaint Consulting (Over $100 Value)

Insulating yourself against state board complaints has never been more vital to the success of your business. OREP Insureds enjoy a free half hour consultation with Bob Keith, MNAA, IFA, Former Director for the Oregon Appraisal Board, and 25% off any consulting services if needed. Head off trouble before it starts.

“I spoke at length this afternoon with Bob Keith. We discussed the complaint, the items in my workfile, and the appropriate response. I feel much more confident now. This is a tremendous benefit as an OREP insured. Thank you for your direction and guidance.”—James S.

Corporate Savings (Save Over $500 Every Year)

Lower Prices from your Favorite Suppliers.Click here for a recent cost comparison of typical office suppliesand the savings you can enjoy through this free program.Save hundreds a year on office expenses with this free benefit—Click for details.

“YES! We are saving 19% on our Verizon bill and I order all of our office supplies through the discounted Staples portal—they provide overnight, FREE shipping, even on Sunday orders! Lastly, we are considering the Six Flags discount. So, yes, yes, and yes. We are taking advantage and truly enjoying your program. Great job!”—Cynthia T.

Free Appraiser Training Classes (Over $200 Value)

OREP offers a growing selection of valuable training courses for appraisers designed to help you improve your skills, limit your liability, and protect and grow your business. OREP insureds enjoy the following courses FREE:

FREE Two-Part Webinar to Improve Your Skills:Appraising Complex and Unusual Properties
FREE Webinar on Q&C Ratings:Understanding Quality and Condition (Q&C) Ratings
FREE Webinar on Adjustments:Easy Ways to Use Excel to Support Your Adjustments
FREE Webinar on State Board Complaints:Fighting Appraisal Board Complaints: An Expert’s Advice
FREE Webinar on Limiting Liability:Claims, Complaints and E&O Insurance
FREE Six-Part Appraiser Coursework from OREP Education:Click Here for More
- How to Determine Land Values, Even Where There Are No Sales
- Comparables: What to Use and What to Do When You Can’t Find Any
- Why the Cost Approach is Valuable(and Helps You Earn Higher Fees)
- Easy Ways to Determine Condition Adjustments
- How a Regression Analysis Can Help Determine Adjustments
- Fighting Pressure and Intimidation

“Thank you for the training webinars. I am learning so much that is helping me improve in my appraisal practice and increase the quality of my work, thus reducing my exposure to lawsuits. The education is a great complement to your insurance business. I will be back at renewal time!”—Bruce K.Save Changes

Free CE

SPECIALIN 2022:Free 14 Hours of CE ($238 Value)

As part of the OREP RPG/Membership Program, OREP Members can now enjoy 14 hours of Approved Continuing Education, at no extra cost! Click here for a list of Approved states.

How to Raise Quality and Minimize Risk – 7 HOURS CE
This course shows you whatyou can do to avoid claims, reduce liability, and enhance your understanding of the approved methodology, techniques and protocols for appraisals. Learn about real world claim scenarios and specific steps you can take to protect yourself.FHA Appraisal Standards – 7 HOURS CE
Keep up with the latest FHA 4000.1 standards with this course that shows what you should be looking out for on an FHA appraisal. Learn how to include explanations and photographs that will help your FHA appraisals fly through underwriting.

Enjoy these two valuable courses, earn 14 hours of Approved CE, and save $$$ when you become an OREP Member this year!

Testimonials

“I switched my E&O insurance to OREP last month and saved $349 bucks.”—Dave M.

“With all that you offer, it was a no-brainer to sign up.”—Jim Nishimura

“I am so pleased with your service and thoroughness. Thank you very much for being so responsible with our money and our E&O insurance. Although I have never had a claim, my confidence level in this process has increased. It is no surprise that several appraisers recommended your company to me.”—Lore D.

“I continue to renew with your company because of the exceptional service you provide. Every time I call my questions and needs get taken care of.”—Mariah M.

“Thank you for the webinars. I am learning so much that is helping me improve in my appraisal practice and increase the quality of my reports and workfile, thus reducing my exposure to lawsuits. The webinars and education are a great complement to your insurance business. I was an OREP customer in the past and because of the benefits I will be back at renewal time. I don’t know why I ever switched. Thanks for what you do.”—Bruce K.

“I had an FHA complaint and lost. It costs me 9 months of FHA work. If I had the knowledge I do after listening to your webinar, I would have been MUCH better prepared and probably would have won. Thanks for your help!”—Michael B.

“Thank you for your speedy responses, I have the best insurance agent in the world. I wish all of the places I do business with had employees like you. Would you call AT&T and train them on how to take care of customers? If they could just do half the job you do I would be more thank satisfied. THANK YOU MARIA!!!"—J. Roser

“In my 13 years as an appraiser, I have never had a more simple, straight forward and painless experience renewing my errors and omissions insurance. I am just blown away by the way your company does business. What a relief, what a time saver, what a money saver. Thank you.”—M.L. Heckaman

“The main reason I stick with OREP is because you folks know what you are doing. The fact that your service is so good and prompt is just another plus for your company.”—Joe de Garay, de Garay Valuation, LLC

I am an experienced professional in the field of real estate appraising and E&O insurance, with a deep understanding of the intricacies involved in this specialized area. My expertise is grounded in years of practical experience and ongoing engagement with the ever-evolving landscape of real estate valuation.

The article you provided outlines the highlights of the Real Estate Appraiser E&O Insurance Program offered by OREP. Let's break down the key concepts and details mentioned:

Minimum Premium: $401, including Prior Acts coverage: This indicates the minimum cost for the insurance, covering activities performed in the past (Prior Acts).
“A” Rated Carrier: The insurance is provided by a carrier with an "A" rating, indicating financial stability and reliability.
Zero Deductible: There is no deductible, meaning the insured does not need to contribute to the initial costs of a claim.
Free Bodily Injury/Property Damage (BIPD) Coverage for the Subject Inspection: Coverage for bodily injury or property damage during the appraisal process.
Coverage for Residential, Commercial & Trainee Appraisers (in all states): The insurance is comprehensive, extending to different types of appraisers and locations.
Coverage Included for Measurement, Review & Hybrid Appraisals: Encompassing various types of appraisals beyond the standard ones.
Free Pre-Claims Assistance: Assistance provided before an actual claim is made, aiming to prevent potential issues.
$10,000 Disciplinary Proceedings Coverage: Coverage for legal proceedings related to professional discipline.
$25,000 Subpoena Assistance: Assistance in handling legal subpoenas.
Loss of Earning: $500 a day, $10,000 maximum: Coverage for loss of earnings due to a covered event.
Free Extended Reporting Period Options available for Retirees, Disability, or Death: Options for extended coverage in specific circ*mstances.
Group Coverage for Two or More Appraisers: Coverage for multiple appraisers under a single policy.
Combination Policy Covering Appraising and Sales: A comprehensive policy covering both appraisal and sales activities.
AMC Extension Coverage: Coverage extension for Appraisal Management Companies.
Trainee Add On Coverage: Specific coverage for trainee appraisers.
General Liability / Business Owner’s Policy (BOP) available: Additional coverage for general business liabilities.
14 hours of FREE CE (Continuing Education): A special offer providing free continuing education for appraisers insured through OREP.
OREP Experience: OREP is highlighted as a leading provider with over 20 years of experience and over 100,000 policies issued.
OREP Endorsem*nts: Endorsem*nts from various national appraisal associations, indicating a high level of trust and recognition in the industry.
Business Support: OREP offers support beyond insurance, including professional support, risk management, and business-related services.
Appraiser Advocacy and Leadership: OREP's involvement in advocacy for appraisers is emphasized, particularly through the publication of Working RE magazine and participation in industry surveys.

In summary, the Real Estate Appraiser E&O Insurance Program by OREP is a comprehensive and well-rounded insurance offering tailored to the specific needs of real estate appraisers, with additional support and benefits provided to enhance their professional development and risk management strategies.