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E & O dilemma

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loug56

Thread Starter
Freshman Member
Joined
Oct 20, 2005
Professional Status
Certified Residential Appraiser
State
Florida
I currently have LSI as my E & O provider. Their costs are higher than then many of the competitors. I have no prior or on-going incidents. Been Certified about 5 years. I am thinking of using OREP (GeneralStar) as my new provider. Any comments or experience with OREP (GeneralStar)? Thanks
 

jakeboeger

Member
Joined
May 12, 2005
Professional Status
Licensed Appraiser
State
California
I have had them for 3 or 4 years with no problems. They are the least expensive I could find. I have $500,000/$1,000,000 for $690 per year in CA.
 

SnoValues

Sophomore Member
Joined
Dec 3, 2003
Professional Status
Certified General Appraiser
State
Minnesota
I just heard about Landy.com from a prior post. They mention General Star on their web site. You may want to check them out and they quote their rates on their site and have an easy application that can be done online.
 

RICHARD D. FRANK

Junior Member
Joined
Jul 21, 2006
Professional Status
Certified Residential Appraiser
State
Florida
I currently have LSI as my E & O provider. Their costs are higher than then many of the competitors. I have no prior or on-going incidents. Been Certified about 5 years. I am thinking of using OREP (GeneralStar) as my new provider. Any comments or experience with OREP (GeneralStar)? Thanks

yes, I was pleased to find them. I carry 1,000,000/2,000,000 with OREP for a fraction of what I paid LSI for much less coverage. Hey, things are tough all over. Get the bigger coverage for the lenders who require it and still be money ahead.
 

SnoValues

Sophomore Member
Joined
Dec 3, 2003
Professional Status
Certified General Appraiser
State
Minnesota
It looks like they have a $50 annual membership fee at OREP. I did not see the $50 fee at Landy.com.
 

Ray Miller

Elite Member
Joined
Feb 20, 2002
Professional Status
Licensed Appraiser
State
Wisconsin
Been with General Star for a number of years. No problems, How ever they have discovered my other business interest and have cancled my E & O Insurance. If you have any other business interest and are marketing it with you appraisal business they will not cover you. I have just replace them with a company out of Utah, that will cover Auctioneer E & O, Appraisal E & O, Gen Lib coverage for about 20% less then I was paying each company to cover each end of the business.
 

Michael Filip

Sophomore Member
Joined
Aug 5, 2003
Professional Status
Certified General Appraiser
State
Pennsylvania
Just renewed in NJ $1,000,000/$1,000,000 $591/year with intercorp
 

Ron D. in NWA

Junior Member
Joined
Nov 19, 2005
Professional Status
Certified Residential Appraiser
State
Arkansas
Been with General Star for a number of years. No problems, How ever they have discovered my other business interest and have cancled my E & O Insurance. If you have any other business interest and are marketing it with you appraisal business they will not cover you. I have just replace them with a company out of Utah, that will cover Auctioneer E & O, Appraisal E & O, Gen Lib coverage for about 20% less then I was paying each company to cover each end of the business.

Ray what company is it?
 
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