Final answer:
Errors and omissions insurance does not typically cover agents for open house property damage, as it is intended for protection against liability for inadequate work or negligent actions. Agents should be aware of their policy limits and consider additional insurance for other risks.
Step-by-step explanation:
Errors and omissions insurance typically does not cover an agent for open house property damage. This type of policy is designed to protect professionals against liability for inadequate work or negligent actions. Open house property damage falls outside these parameters as it is not directly related to the services provided by an agent. Insurance policies for real estate professionals expect that any physical damage to properties during showings will be covered by different types of policies, such as general liability insurance. Honest mistakes and negligent acts are generally covered by errors and omissions insurance, as these fall within the realm of professional services and the execution thereof. Therefore, it's important for agents to have a clear understanding of what their errors and omissions insurance policy covers and to obtain additional coverage for situations that fall outside this scope.