Key Takeaways
- Agent E&O, title insurance, and contractual indemnification provide layered but imperfect protection against professional failure.
- Insurance claims take 6-18 months to resolve — prevention through independent verification is always preferable.
- Limitation of liability clauses may cap professional liability at inadequate levels — review these carefully before signing.
- A "trust but verify" protocol with redundant document review catches the errors that single-source reliance misses.
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Test Your Knowledge
1.What type of insurance protects buyers against errors made by real estate agents?
2.Why is independent verification of critical documents essential even when working with trusted professionals?
3.What is the typical limitation of liability clause in many home inspection contracts?