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E & O Insurance Without 2 Years Experience?

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Nicole Ulseth

Freshman Member
Joined
Jun 24, 2003
Is it possible to get E & O Insurance without 2 years appraising experience? My husband and I just started our own appraising business and have been turned down for E&O Insurance by just about everybody. They say it is lack of experience and that he needs two years of experience. He is now a Licensed Appraiser which in Minnesota only required 2000 hours and 18 months of experience. Now what do we do about insurance???? Great, he has his license, but we can't do anything without insurance.

Thanks in advance for any input! We are currently paying another Appraisal company 20% to sign off on our appraisals and we need to get our own insurance as soon as humanly possible.

Nicole
 

wyecoyote

Senior Member
Joined
Jan 15, 2002
Professional Status
Gvmt Agency, FNMA, HUD, VA etc.
State
Washington
Don't know of any off hand that require 2 years of experince. You might just have to wait it out and see.

Ryan
 

Jeff Honas

Freshman Member
Joined
Nov 8, 2002
Professional Status
Licensed Appraiser
State
Nebraska
Nicole, try this guy. David Brauner with Working RE Magazine/OREP. Phone # 888-347-5273. I think he can help.
 

Sooner Mike

Freshman Member
Joined
Feb 10, 2002
Professional Status
Certified Residential Appraiser
State
Oklahoma
Try this

http://www.landy.com/

I had trouble finding E&O for myself, being a trainee. Landy was the only insurance company that would insure me without adding a rider on my supervisors policy.


Mike
 

Damon Young

Sophomore Member
Joined
Jun 15, 2003
You can join FREA and get insurance (Expensive).

Or try calling Claudia at Williams Underwriting 812/284-3252
 
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