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Who is good/resonable E/O Insurance?

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Travis McGee

Senior Member
Joined
Sep 18, 2004
Hello,


Who is good/resonable E/O Insurance???


I am looking for it soon. And have NOT a CLUE??


What is the General Cost??


Thanks for helping me understand.

Jennifer :? :wink:
 

Dee Dee

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Good question, Jennifer.

I'd like to hear some feedback as well since my E&O is coming up for renewal in April.

Last year I waited until the last minute to make a decision, and I think that I paid too much to the company that I had been using because I didn't make the time to shop around. They had upped the premium by about $200 from the prior year for no apparent reason, but I sucked it up just to get it out of the way quickly.

Someone in this forum once said that you only find out how good your E&O insurer is if you get sued and need them.
Any comments good or bad?
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Liability Administrators! Nice people too!
 

Blue1

Elite Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
California
LIA (Liability Insurance Administrators) Don't know if it's the same one Mike mentioned but they're professional and have help available for liability questions.
 

Red Blumenstock

Sophomore Member
Joined
Jan 16, 2002
Professional Status
Certified General Appraiser
State
Florida
I agree with Mike & Blue 1. LIA - Liability Insurance Administrators has been very responsive to my requests for information in writing a "CYA- Limiting Appraiser's Liability Exposure seminar".

If you are doing reviews, make sure they cover them - some consider it consulting and require a Real Estate Broker's coverage. Also ask whether the poliy is on a "claims made" basis, which it probably is. Have them explain fully what that means.

If you have any contracts with a "Hold Harmnless" clause, make sure they cover that also. They probably won't.
 

Jim Bartley

Senior Member
Joined
Jan 20, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
Been with LIA since 1991.
 

Joe McDonnell

Freshman Member
Joined
Mar 1, 2003
Give INTERCORP, INC. a call. They are very friendly, fast, and helpful! Ask for Diane Beans, she will give you honest answers to any questions you may have! Their rates are one of the most resonable around. Call 800-640-7601 or visit the web site at www.intercorpinc.net :D
 

larryhaskell

Senior Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Nevada
Do any of you guys that use Liability Administrators have a link. I'd like to get a bid from several companies.

Thanks
 

Heath Boyles

Sophomore Member
Joined
Mar 6, 2003
Professional Status
Certified Residential Appraiser
State
Oklahoma
Are you a Trainee? I had a tough time finding E&O as a trainee, but www.landy.com came through for me. As a trainee I paid $536.00 for a $1,000,000 policy. There are other premiums availible also.

Good Luck
 
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