E&O Coverage

[jrmont]

I am new to the appraisal business and looking to obtain E&O coverage. I was quoted a cost of $614 per year for $1,000,000 of coverage per claim and aggregate. Would this quote be considered normal?

 

[Terrel L. Shields]

Quite so. Check LIA vs OREP - OREP does offer some free on line CE with a policy.

 

[shrubberyvaluation]

I am new to the appraisal business and looking to obtain E&O coverage. I was quoted a cost of $614 per year for $1,000,000 of coverage per claim and aggregate. Would this quote be considered normal?

Its not unusual. I would also look at the reputation of the company in the event you have to use the coverage.

 

[jrmont]

Thank you!

 

[jrmont]

Quite so. Check LIA vs OREP - OREP does offer some free on line CE with a policy.

Thank you!

 

[Illuminati]

I am new to the appraisal business and looking to obtain E&O coverage. I was quoted a cost of $614 per year for $1,000,000 of coverage per claim and aggregate. Would this quote be considered normal?

I just got a 1 million policy for $405 through CRES out of Las Vegas. It is underwritten by HDI Global Insurance Company.

The Hartford was $395 if you paid in full for a year. Or $415 per year or something like that.

 

[Surf Cat]

Quite so. Check LIA vs OREP - OREP does offer some free on line CE with a policy.

This is what I did. I liked the CE from OREP, nice change from Mckissock. Problem is, I still needed more CE hours for my 56 hour, 4 year cycle renewal. So you have to take classes a la carte which costs almost as much as the bundle. They get you coming and going on CE.