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Cres E&O Insurance
- Thread starter kenwright
- Start date
- Status
Donna Quixote
Member
- Joined
- May 23, 2008
- Professional Status
- Certified Residential Appraiser
- State
- Wisconsin
Used them for years, never had to exercise the policy thankfully.
Randy G
Junior Member
- Joined
- May 9, 2008
- Professional Status
- Certified Residential Appraiser
- State
- California
According to J.A. Price, Star isn't insuring appraisers any more. The wrote me with a new company that was $100/yr less for $1M, retro to May 1992.
kenwright
Freshman Member
- Joined
- May 11, 2006
- Professional Status
- Licensed Appraiser
- State
- California
Did you sign up on line? How is paperwork disstributed? Are you covered for past work? Just trying to cover all bases and make a wise decision. Thank you!
kenwright
Freshman Member
- Joined
- May 11, 2006
- Professional Status
- Licensed Appraiser
- State
- California
Correct! Star is not renewing my policy, i was quoted with another company thru JA Price, for about $850 for 1 mil coverage, but Cres has quoted $650. I just want to make sure i have proper coverage both now and past assignments.
Randy G
Junior Member
- Joined
- May 9, 2008
- Professional Status
- Certified Residential Appraiser
- State
- California
Be careful. Cheap policies may not have retro coverage, and many are not covering FDIC claims against appraisers or are defending you. There's a reason they are that cheap. Mine does.
Donna Quixote
Member
- Joined
- May 23, 2008
- Professional Status
- Certified Residential Appraiser
- State
- Wisconsin
Sorry, have not signed on in a while. Yes, covers previous work like everyone else, just give them a call, they are friendly and will get you signed up. Sorry if this is too late.
Randy G
Junior Member
- Joined
- May 9, 2008
- Professional Status
- Certified Residential Appraiser
- State
- California
"...like everyone else". Not "everyone else" does. Check the policy before you renew. When renewing a few years ago I got some quotes and some did not have prior acts coverage. They only covered you for the year of their policy, and we all know it could be years later before you would need your coverage. And if you got sued for work you did in the previous year and beyond you were on your own.
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