E&O Complete

Protection summary

  • $30,000 per qualifying real estate transaction
  • $10,000 deductible coverage
  • $90,000 aggregated lifetime coverage
  • Maximum of 3 claims or $10,000 per policy year
  • $700 premium per year (pro-rated)

Preferred coverage

Our E&O Complete coverage is designed to offer the financial support you need to deal with smaller issues quickly and effectively when acting for an insured owner, vendor, borrower or lender under a residential or commercial FCT title insurance policy.

For $700.00 per year, plus applicable taxes, your coverage comes into effect the day you complete the online application form and get confirmation from FCT.

An E&O Complete policy provides direct, hassle-free coverage to help settle client claims that are $10,000 or less, reimbursement for your deductible payment and reimbursement for any increase in your premium surcharge payments.

 

three people looking into laptop

$6,197.80 paid

A lawyer processed a refinance transaction, acting for the borrowers and the lender. The property had an existing mortgage with another lender that had to be paid out and discharged as part of the transaction. But the lawyer’s office inadvertently didn’t pay out the existing mortgage until after it had matured. The borrowers ended up with $6,197.80 of prepayment and interest charges and held their lawyer responsible. Because the lawyer had an E&O Complete policy, FCT covered the full amount, with no deductible, and no increase in their law society E&O insurance premiums.

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Which of our E&O suite of products is best suited for you?

    Prime Protection Package
Compare E&O Suite of Products† E&O Extra ® E&O Complete™ Deal Protection Endorsement1
FCT title insured purchase and refinance transactions
Commercial transactions*
Reimbursement of mandated policy deductible/surcharges ❌
Upfront settlement ❌
Reimbursement coverage limits $30K per transaction
$90K lifetime		 $30K per transaction
$90K lifetime		 ❌
Upfront coverage limits ❌ $10K per year / 3 claims Title insurance policy limit
Non-title insured vendor and borrower only ❌ ❌
Insured Lawyer/Notary Lawyer/Notary Property owner/Lender**
Premium (provincial taxes apply) $0 per year
($400 with 100% discount)		 $700 per year Variable, see premiums
 
Have a question?

Call us toll free at 1.866.804.3122 or email  moreprotection@fct.ca.

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†Refer to the applicable policy or endorsement for definition.
1 Deal Protection Endorsement is not available for existing homeowner policies.
* Coverage for commercial transactions is up to a maximum of $5 million.
** In British Columbia, the lawyers and notaries are the insured.

Insurance by FCT Insurance Company Ltd. Services by First Canadian Title Company Limited. The services company does not provide insurance products. This material is intended to provide general information only. For specific coverage and exclusions, refer to the applicable policy. Copies are available upon request. Insurance brokerage services by FCT Insurance Services Inc.  Some products/services may vary by province. Prices and products/services offered are subject to change without notice. 

 

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