You might check the archives of the forum on this issue... it has been discussed plenty of times. Basically, most of the appraisal magazines have ads from E & O companies and they can differ a bit in price. Liability Administrators seems to be a favorite one, but I found them real expensive when I started my own business four years ago...perhaps that is different now. I use Intercorp, 1438 W. Main St.,Ephrata, PA 17522-1345 and found them through an ad in a magazine. Perhaps they have a web site or something. I pay under $500 per year for $500,000. Some of the companies will perhaps discount for more than one policy but the problem here in our office is that ours expire at different times and no one wants to give up part of a year! Good luck!
I use Liability Administrators, reasonable fee. However, I got a note that with the next renewal, I won't have mold coverage or coverage for acts of terror or absolute war. How that affects my appraisals (I get sued for not forcasting a terrorist attack?) I don't know.
My current company refused to renew my business policy after the 26th of Nov. So I went shoping for a new company. Found one that will write a 1 Mil E&O, General Lib, and inland marine for all my office equiptment and in feild equptment for the auction and appraisal business for a little over $1800.00 for the year. A lot less then I was paying in my former life for farrier, auction, appraisal insurance.
The E&O was $550.00
I contacted HRH at 1800 365 4022 Commercial Insurance section.
To respond to this great debate about E&O insurance, call FREA (Foundation of Real Estate Appraisers) at 800-882-4410. They can give you a quote and send you an application that same day. Their E&O comes with a good benefits package and they have great friendly service.