What is the annual deadline to pay the errors and omissions insurance premium in Kentucky?

In Kentucky, the deadline to pay the errors and omissions insurance premium is specifically set for 11:50 p.m. on March 31. This timing is significant because it establishes a clear cut-off point for real estate licensees to ensure that they remain compliant with necessary insurance requirements without risking lapses in coverage.

Errors and omissions insurance is crucial for protecting real estate professionals against claims of negligence or mistakes in the course of their work. Adhering to this deadline ensures that licensees maintain continuous coverage, which is not only vital for their protection but also a requirement for keeping their licenses active.

Understanding the precise deadline helps licensees plan ahead to avoid any interruptions in coverage, which can be detrimental both to their business and their credibility in the real estate market.