EO or Liability Insurance

[Wolverinefan]

I need to change Insurance Carriers because my company (US Liability) is dropping Appraisers. My question is, do you have EO Insurance, Liability Insurance or both and which companys are the best?

My understanding is Liability Insurance covers if you damage property etc...., whereas EO is coverage for a mess up (unintentional) of your appraisal.

Also wondering if anyone has ever had to file a claim and what their success was with their carriers?

Thanks in advance

 

[Blueprint]

Do your job well. Do your job in dependable format, at the same time. Throw in a seasoned EO for perception of clients and for security of your intelligent self. Smile after doing that.

No files claimed. No intention to file/receive claims.

 

[Rufus]

I don't know if they are the best or not, but here is where I have my E & O: LIA .

No claims since becoming a trainee in 1999, so I can't help you there.

 

[Blueprint]

Talk 2 other Michigiains!! There is much seasoned info available to you, when accessed properly.

 

[Wolverinefan]

I am more concerned about whether I should have E and O or Personal Liability Insurance. I guess it really doesn't matter since I dont plan on getting sued, but then again does anyone ever intend too? People out there are sue happy....

 

[laynelucia]

I have conversed with those that had LIA. Decent company, good communication, will drop you in a heartbeat after 3 claims. Keep in mind, you might not want to claim State Complaints or small matters.

 

[Uoozen]

LIA is rasing Prices!

I have been with LIA for 6 years, with no claims.
Just got a letter stating that due to a significant rise in claims, they will have to raise rates!

The underwriter who handles my account just told me that my rate will go up approx 19%.

If you use them, I suggest giving them a call AND getting at least 3 other quotes.

I will be looking at OREP, NDC and Landry.

Good Luck!

 

[Ruben Ramon]

Your not gonna like this, but almost all E & O Carriers are claims made. Once there is a change in carriers or a lapse in coverage, it will be as if you NEVER had coverage.

 

[ZZGAMAZZ]

Ruben: Would you be so kind as to clarify your comment about the claims made issue. I was under the impression that as long as coverage did not lapse, retroactive coverage was indeed available, even if carriers are changed.

 

[Uoozen]

Lia

I am not sure what Ruben is talking about...

I currently have coverage with LIA.
My point is, that I have never had a claim filed against my office and LIA is increasing the rate that they will charge me...based on 'industry' claim activity!!!:new_2gunsfiring_v1:

That is totally unacceptable to me and have already obtained 2 estimates from competing carriers that are LESS $ for MORE coverage!!!!!

Rick Ulrich:icon_mrgreen: