• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

E & O Insurance Question

Status
Not open for further replies.

Kelly Green

Freshman Member
Joined
Jan 28, 2003
I have a dumb question that I need help with please. When my wife started her business she was a 1 person shop and acquired insurance in that capacity. Since then the business has grown to include one other certified residential and myself as a part time registered assistant. We are about to renew the insurance policy and need some advice. We will be including myself on the insurance but should or do we need to include the other cert. appraiser working for use even if she sign her reports solely. Thanks in advance for any input.
 

Ed Potrafke

Sophomore Member
Joined
Dec 17, 2002
If the orders are passed on, from your company to the other appraiser, I would consider coverage that covers them also. In the event that there is a lawsuit, lawyers like to sue everyone, and if your company accepted the order, I would imagine that your company would be named as a defendant. If I were you, I would look into a policy that provides blanket coverage, for the whole company.
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
It isn't all that expensive to add another appraiser to your policy. If your other appraiser has his/her own policy then you wouldn't need to add them. Ask your insurance provider which is the best way to go.
 

Kelly Green

Freshman Member
Joined
Jan 28, 2003
We are contacting them today to get quotes both options. At this point I would rather be safe than sorry.
Thanks for the advice.
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks