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Opinion on E&O company

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andrea dennett

Thread Starter
Freshman Member
Joined
Mar 2, 2002
I am looking over some advertisements in the Valuation magazine on E&O providers. Any particular suggestions out their?
So far I have seen "Appraisers Liability Insurance Trust" And Landy Insurance. I'm sure there are several out there. I'm looking for no hidden surprises and a fair price. Thanks!!!
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
Just get several quotes. Premiums can vary several hundred $$. But also read the mice type. While the cheapest policy may look good on the quote, it can have some stringent limitations and restrictions. If you do a considerable amount of commercial work, you may need some riders or additional policies. The low quotes you see advertised in the magazines generally do not cover commercial appraisals.
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
Appraisers Liability Insurance Trust is an umbrella that handles the research and gets your quote. I use them and have gotten the best quote. Fees will vary depending on the area you're in and what companies will write in your state. However, the carriers willing to write E&O insurance are declining and choices are limited.
 

Frederick R. Ruffell

Senior Member
Joined
Jan 21, 2002
Professional Status
Certified General Appraiser
State
California
Check with FREA, If you buy your E&O along with their public records data (on Line @ WWW.NDCdata.com, see if they cover texas) you get a huge discount on your E&O policy. The data cannot be beat, at least here in CA, in terms of price and quality, and product (i.e. public record, FEMA data, Plat maps. Call JD peterson at 800-882-4410 or www.frea.com
 
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