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E & O Insurance?

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Travis McGee

Senior Member
Joined
Sep 18, 2004
Hello,

It eventually happens, if you don't give up. You get your license that is, after much work, much failure, much success, and most importantly much endurance. I should knock on wood, i sent away for it 2 months ago, but in CA there is a 90 day wait. So it should be in the mail (knock on wood again). I appreciated this site to give me insight into appraising. I feel it answered my most stupid questions, and I like reading all the questions.

My question, is I need E and O insurance and I wanted to find out who, how much, and what it covers.

If you have the name of Company, web site address or tele.

What policy do you recommend, $1,000,000 or $300,000???

What should it cost $500-1000 per year.

I am in California, if that matters.

Thank you so much,

Jennifer :usa:
 

Em Tee

Senior Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
California
Jennifer: Look in Working RE magazine. There's several E&O companies listed which you can call to check rates & coverage.

Best of luck!

Mary
 

Jeff Horton

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Alabama
Cheapest I have found is;

The Noble Group.
39 LaSalle Street
Chicago IL
1-800-519-5000

My rate is well below $1000 but that depends on you state too I am sure.
 

Carnivore

Elite Member
Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
jennifer

my policy is 1,000,000 per claim with an aggregate of 2,000,000

I have a $500.00 deductable with a $1,000 aggregate

premium is $536.00 per year in NC.
The company's name is:

Herbert H Landy Insurance Agency
75 Second Ave, ste 410
Needham, Mass 02494-2876
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Go with what you feel you need...I have $300,000 coverage and if that isn't enough they can find another appraiser! We are so lucky here in Colorado. The state has a mandatory E & O insurance program for real estate brokers. I can add an appraisal indorsement for $100 a year.
 
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