- Sep 19, 2007
- Professional Status
- Certified Residential Appraiser
I am in the process of getting out of the appraisal business temporarily, but maybe for good. I was told by my E&O insurance co. that I could take out tail insurance for a certain period of time (# of years) but once I commit to that period of time, I cannot extend it in the future. I am trying to determine how long I should have this insurance. Is there a timeframe that most appraisers use? For instance, if one retires, how long do they keep up insurance afterwards? I certainly don't want to shortchange myself and then have someone sue down the road.