Thread: 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

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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

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

Originally Posted by Matthew Barnicle

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

FREA
E&O Insurance Overview - USA

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.

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