Results 1 to 6 of 6
  1. #1
    Join Date
    Mar 2007
    Location
    Anacortes, Washington
    Posts
    393

    Default Coral Point / Lexington Insurance

    My E+O policy was expiring at the end of May. At the end of last year I started getting emails from various companies telling me that E&O prices were dropping. Great I thought, its about time I got a break in expenses especially since I not had any claims since I started in this business in 2002. In March, I called my broker Coral Point Insurance Services Coral Point Insurance sucks and requested a quote for the coming year. They said they would get back to me. Two weeks later after no news I called back. They said they would check on it. A week later I called again and they told me that they couldn't get a quote from the Lexington insurance company because it was too soon. I explained that if I could call any other insurance company and get a quote that I should be able to get a quote from a company I already had a relationship with. Coral Point agreed and said they would put another request in. Fast forward to May 1st. I call Coral Point again and ask why I haven't seen a quote yet, aren't they interested in me as a customer? Two days later I get a call saying I will have a quote by the 5th. I explain to Coral that I feel like I am being screwed because I won't have time to line up a new policy. They apologize and tell me it will be fine. I resolve to find a new company. On Tuesday I get a fax from Coral Point new premium $4205 for $500K/$1,000K ($2,500 deduct) up from $2665 for same coverage. And this is with no claims!!!

    Moral of the story if you feel like you are about to be bent over a log and reamed, you probably are.

    I now have a new policy line up and will tell Coral Point and Lexington where they can stick their policy.

    //Rick

    Similar Threads:
    Elite MGA Home Inspector E&O Insurance
    Rick Bunzel
    WWW.PacCrestInspections.com
    360-588-6956

  2. #2
    Ron Bibler's Avatar
    Ron Bibler Guest

    Default Re: Coral Point / Lexington Insurance

    Say brother. been there done that. I... 2 had Lexington at one time and got the same treatment when the time came. They hold back the info so you dont have time to look around for a better price... good to see you are out from under a company like that. Now we can get back to doing what we do best. Inspecting...


    Ron


  3. #3
    Join Date
    Mar 2007
    Location
    Tampa, Fl
    Posts
    155

    Default Re: Coral Point / Lexington Insurance

    Who are you guys using now, and what are you paying?


  4. #4
    Join Date
    Mar 2007
    Location
    Philadelphia PA
    Posts
    3,177

    Default Re: Coral Point / Lexington Insurance

    Quote Originally Posted by Matthew Barnicle View Post
    Who are you guys using now, and what are you paying?
    FREA
    E&O Insurance Overview - USA


  5. #5

    Default Re: Coral Point / Lexington Insurance

    Rick -- that's no good. But I don't think the problem is with Lexington so much as it's with your broker. And unless you're getting a bunch of additional coverages along with your policy, you're getting killed on those rates.

    Food for thought - 500,000/500,000 policy limit, $1,000 deductible. $3195/year. Arguably the strongest policy in the industry through FREA.

    Call me if you want to discuss any more.


  6. #6
    Join Date
    Mar 2007
    Location
    Succasunna NJ
    Posts
    573

    Default Re: Coral Point / Lexington Insurance

    Hmmmmm;

    Let's see about the last post.

    Lexington E & O (including radon and WDI) and General Liability.

    1,000,000 & 1,000,000, 1,500 deductible Retro date: Full

    All this for under 3,500.00

    Darren www.aboutthehouseinspections.com
    'Whizzing & pasting & pooting through the day (Ronnie helping Kenny helping burn his poots away!) (FZ)

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •