Applying for Coverage

How can I get a quote? To get a quote, fill out our new business application for the program you're interested in. Once the application has been completed, please send it to your insurance broker.

How can I find an insurance broker? Your local independent insurance broker should be able to help you get coverage through Schinnerer. If you don't have a broker, use the Broker Locator in the column to the left to find one in your area.

Can I apply for coverage as an independent contractor? In most states, policies can be written for independent contractors who have at least three years of licensed experience.

Do you offer payment plans?
If your annual premium is greater than $700, you may qualify for one of two payment plans:

• 40/30/30 payment plan - 40% down payment and two equal payments of 30% each after 90 and 180 days.
• A monthly payment plan based on number of real estate sales, available for residential real estate firms.

Who is eligible for real estate professional liability coverage? Take a look at who we insure under the Realty Choice program.

Claims

What types of claims are made against real estate professionals? For a general idea of the kinds of risks real estate professionals face, take a look at our risk management section. You can also read a list of the most common claims made against mortgage brokers.

What if I have been notified of a claim or potential claim? See our claims resources to find out what you should do and what CNA will do for you.

Coverage Details

What is your minimum premium? Minimum premiums vary by state and program. In most states our minimum premium for the Select E&O is $500. Check the details for your state. For our Industry Services Program, the minimum premium is $5,000.

What is the difference between the Select Program and the Industry Services Program? Which program is right for me? The majority of our accounts qualify for Select, our admitted program. Select is designed for the small and mid-sized market segment of the real estate industry who perform a variety of residential and commercial real estate services. Real Estate Industry Services is designed to meet the needs of larger, more complex residential and commercial operations, offering vast array of services and tailored coverages.

Take a look at our Realty Choice Programs to decide which coverage is right for your firm.

Will I have coverage for the sale of my own house? In most states, coverage is provided for the sale of a policyholders's primary residence as long as the owner is not the listing, selling or closing agent.

Coverage Details (cont.)

What is first dollar defense? First dollar defense coverage means that we pay for your legal expenses without you having to meet your deductible.

What is an ERP? An ERP endorsement, also known as an extended reporting period or tail endorsement, extends the amount of time you have to report claims after your policy has expired or been cancelled.

Do you provide coverage for mold claims? Now available in select states,  the policy includes the failure to advise of the existence of fungi or microbes while rendering Professional Real Estate Services related to a Residential Property.

Do you provide coverage for mortgage banking? No, however, we do provide coverage for mortgage brokering.

Do you offer coverage in any of your programs for home inspectors or home inspection companies? No, however, coverage is provided through our Miscellaneous Program.

What's the cost for lockbox coverage? There is no charge for lockbox coverage. It is a sublimit included in the policy. For availability, please refer to the policy form for your state.

Do you offer general liability coverage? Our Select and Industry Services programs only offer professional liability coverage.

For Brokers

How do I bind coverage?
Send the completed Broker Order form or Renewal Invoice along with the premium to our office. If you have received a quote letter, please refer to the letter for any tentative items necessary to bind coverage.

Do you issue binders or Certificates of Insurance?
No. Once we have received the order and necessary premium, we can authorize your insurance brokerage to issue a temporary binder or Certificate of Insurance.

Will I receive an invoice?

• If you have received a quote letter, the Broker Order form will serve as your invoice.
• If you have received a Rapid Renewal letter, the renewal invoice will serve as your invoice.
• If your client has elected the 40/30/30 payment plan, we will send you an invoice for the second and third installments.

Please note: all of our accounts are agency billed.

Do I need to report mid-term changes to your office?
Yes, as soon as possible. If the firm's name has changed, we will need the exact date of the name change as well as the new legal name. If the firm's address or staff has changed, we request notification. However, these changes may not affect your policy until renewal. If the firm's ownership has changed, we must be notified immediately, since coverage may be affected.

How do I determine my commission?
Please refer to the last page of your original quote letter.