Real Estate Appraiser E&O Insurance

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
• $100,000 of Bodily Injury and Property Damage coverage (Click for Details)
  $200,000 of Discrimination Claim Coverage (Click for Details)
• Zero Deductible
• Coverage for Residential, Commercial & Trainee Appraisers (in all states)
• Coverage Included for Measurement, Review & Hybrid Appraisals
• $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!

OREP Members Enjoy 14 hours of FREE CE (Over $250 Value: Approved Continuing Education for Appraisers in 46 states; not approved in AK, IL, GA, or MN). OREP Members may choose two out of four CE courses.

Why OREP

Experience: OREP is a leading provider of Real Estate Appraiser E&O insurance nationwide, serving Real Estate Appraisers for over 23 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 Staffed and Fully 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 of Working RE magazine, a Corporate Savings program with discounts on office supplies, cell phone bills, and much, much more! See Business Support tab for details.

Appraiser Advocacy and Leadership: OREP has published Working RE magazine for over 23 years, providing honest reporting, unique insight and potent advocacy for appraisers nationwide. Working RE has walked with appraisers and helped them thrive through the many changes the profession has faced (and continues to face!). Along the way, Working RE 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, the Appraiser Independence Survey, the 2011 Customary and Reasonable Fee Survey, the HVCC Survey, and much more!

Association Endorsements

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 for the 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 Appraisers and Mortgage Underwriters (NARA/MU).

OREP Members Enjoy 14 hours of FREE CE (Over $250 Value: Approved Continuing Education for Appraisers in 46 states; not approved in AK, IL, MN, or GA).

Business Support

Guaranteed Delivery of Working RE Magazine ($60 value)

OREP insureds receive a free subscription to Working RE Magazine, the largest circulation print magazine for appraisers in the country, including free access to over 250 premium content articles ($60 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 (Over $250 value), as well as discounts on other coursework through the OREP Education Network, including a discount on a Membership from McKissock. Save hundreds of dollars at the OREP Education Network on high-quality CE classes with the latest information and advice from industry experts. Automatically 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)
• Appraisal Adjustments II: Solving Complex Problems (7 Hours)
• Identifying and Correcting Appraisal Failures (7 Hours)
• How to Raise Appraisal Quality and Minimize Risk (7 Hours) (FREE TO OREP Members)
• Non-Lending Appraisal Assignments (7 Hours) (FREE TO OREP Members)
• Appraisal Liability and Risk Management (7 Hours) (FREE TO OREP Members)
• Applying Appraisal Standards for Competent Valuations (7 Hours) (FREE TO OREP Members)
• Navigating California’s Laws and Regulations (4 Hours)

Discount on McKissock Membership

All OREP Members can now save 10% on a McKissock Membership, including USPAP. Flexible learning, world-class appraisal content, and professional development, all for a fraction of the cost. Email subscription@workingre.com for 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 supplies and 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 Members 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.

Free CE

SPECIAL: Free 14 Hours of CE (Over $250 Value)

As part of the OREP RPG/Membership Program, OREP Members can now enjoy 14 hours of Approved Continuing Education (two, 7-hour courses), at no extra cost!  Click here for a list of Approved states.

Enjoy two of the four 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.

“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

*Member Benefits part of OREP Membership. Min. Membership fee of $60. Insurance provided through the OREP Risk Purchasing Group. Membership products available for purchase separately.