New Hampshire License Law
A NH real estate broker's E&O insurance protects against claims of:
ACriminal fraud committed by the broker
BNegligent errors, omissions, and mistakes made in the course of professional real estate services✓ Correct
CClaims from the broker's personal automobile accident
DClaims related to the broker's personal investments
Explanation
E&O (errors and omissions) insurance covers claims arising from negligent professional mistakes or omissions — such as failing to disclose a defect, making an error in a contract, or providing incorrect market information. It does not cover intentional fraud.
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Key Terms to Know
Listing Agreement
A contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
Private Mortgage Insurance (PMI)Insurance required by lenders on conventional loans with less than 20% down payment, protecting the lender — not the borrower — against default.
AppraisalA professional estimate of a property's market value prepared by a licensed or certified appraiser.
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