E and O insurance in Texas - InspectionNews

M Kelekci · #1 (**permalink**) 09-24-2007, 08:13 PM

I need to renew my license by 12/31/07. Started shopping around for E and O insurance which is required in Texas as of 9/1/07.

Contacted Landy insurance company so far.

Looking for the best price. Can anybody help me?

Thanks,

Ben Garrison · #2 (**permalink**) 09-25-2007, 02:47 PM

Matt:

Give me a call and I'll let know the different options through FREA. I can be reached at 1-800-882-4410 ext. 104. Hope all is well!

Regards,
Ben Garrison

Nolan Kienitz · #3 (**permalink**) 09-25-2007, 08:50 PM

Matt,

Check w/your local State Farm agent. He can't directly write the coverage as such policies have to come from a corporate office.

After reviewing six different companies, State Farm was the best that worked for me.

Some local agents are not even aware they offer same. If that would be your case ... e-mail me off-line and I can put in you contact with my agent located in Spring, TX.

Eric Barker · #4 (**permalink**) 09-26-2007, 08:28 AM

I also have State Farm. Policy is offered through their Specialty Products division.

David Brauner · #5 (**permalink**) 10-02-2007, 01:25 PM

Hi - this is David Brauner Senior Broker at OREP.

To the guys who have State Farm - I'm just curious what kind of coverages they offer and at what premium range(s): do they provide free prior acts if you qualify; do they include free referring party coverage, coverage for incidental pest/radon, commercial, code, and such or do you pay for all that? Do they charge extra for multiple inspectors? Do you have to have a home owner's policy with them?

You guys are an informed bunch so I'm sure you've scrutinized the policy. Would you mind sharing with an insurance provider?

Thanks,
David B. (Appraisers Errors & Omissions Insurance - Real Estate Home Inspectors Liability E&O Insurance)

Billy Stephens · #6 (**permalink**) 10-02-2007, 06:21 PM

Quote:

Originally Posted by David Brauner

Hi - this is David Brauner Senior Broker at OREP.
Would you mind sharing with an insurance provider?

At least He ain't a Broker.

David Brauner · #7 (**permalink**) 10-03-2007, 11:21 AM

Billy - I'm not sure what you comment means but I do remember that joke "..might have choked Artie..." from the Little Rascals - from maybe 40 years ago. Amazing! (I'm an insurance broker.)

Billy Stephens · #8 (**permalink**) 10-03-2007, 02:34 PM

David,

What's your location?

Sorry but your post looks like a sales pitch if thats the case we would welcome your AD.

In your advertisement could you describe the benefits of your service?

I'd say most of us have E&O and GL. along with the other standard insurance needs.

David Brauner · #9 (**permalink**) 10-03-2007, 04:21 PM

No pitch. I just want to know what they (the inspectors) are getting or not getting to evaluate the competition. I called my own State Farm agent and he never heard of it so I could not get my questions answered. Thanks.

David

Billy Stephens · #10 (**permalink**) 10-03-2007, 05:42 PM

Quote:

Originally Posted by David Brauner

No pitch. I just want to know what they (the inspectors) are getting or not getting to evaluate the competition.

David

David,

I guess I got miss lead by the link to your Business Site.

David Brauner · #11 (**permalink**) 10-05-2007, 04:10 PM

(Smiling) The link doesn't go to MY site.

Billy Stephens · #12 (**permalink**) 10-05-2007, 04:36 PM

Quote:

Originally Posted by David Brauner

Hi - this is David Brauner Senior Broker at OREP.
)

David Brauner,

Click on link, Scroll to Last Paragraph,click on Home Inspectors E&O Insurance:Market
Softens/Price Drop click scroll to bottom.

About the Author David Brauner is Senior Broker at OREP.

Must be the other Senior Broker David Brauner's site.

I stand corrected.

Trent Tarter · #13 (**permalink**) 10-06-2007, 08:34 PM

Matt,
Check out this company North American Professional Liability Insurance Agency - Errors & Omissions Insurance this is the lowest cost E&O insurance I have found.

Nolan Kienitz · #14 (**permalink**) 10-07-2007, 08:50 AM

Quote:

Originally Posted by David Brauner

... I called my own State Farm agent and he never heard of it so I could not get my questions answered. Thanks. ...
David

State Farm handles this out of a central corporate location. It is likely that a lot of agents may not have a clue.

As a client you have to push the agent to learn about the offering.

Rolland Pruner · #15 (**permalink**) 10-08-2007, 03:27 PM

Look into NACHI.org

I found the best prices.

Rolland Pruner

Richard Stanley · #16 (**permalink**) 10-09-2007, 02:39 PM

Don't forget to add your NACHI membership fee.

Rick Hurst · #17 (**permalink**) 09-09-2008, 03:41 PM

Larry,

Why don't you contact Brian Hannigan regarding a Paid banner for your business.

Its not much fair for those who do pay for such for you to expect the free advertising.

rick

Jim Luttrall · #18 (**permalink**) 09-09-2008, 05:34 PM

Speaking of Texas E&O, does totally omitting coverage of damage due to termites sound correct on a standard policy? I don't do WDI reports, but I don't want to be left holding the bag if I get sued for missing structural damage that happens to be termite related.
Any body familiar with this exclusion?

Quote:

Exclusions:
Claims arising directly or indirectly out of damage caused by insects, including but not limited to termites

Ted Menelly · #19 (**permalink**) 09-09-2008, 05:41 PM

Quote:

Originally Posted by Jim Luttrall

Speaking of Texas E&O, does totally omitting coverage of damage due to termites sound correct on a standard policy? I don't do WDI reports, but I don't want to be left holding the bag if I get sued for missing structural damage that happens to be termite related.
Any body familiar with this exclusion?

Considering that you are not suppose to say that there are wood destroying insect doing damage to the home I would say you are covered. Of course mentioning there is damage to the structure is fine but the WDI folks are the liable ones for that.
Always recommend the termite folks if you see something and that takes your liability away anyway.

Let me know how you make out Jim. I still have not gotten mine yet.

Rick Hurst · #20 (**permalink**) 09-09-2008, 09:26 PM

Jim,

Its hard to find a carrier that will cover you for structural damages (termite) unless your actively in the treatment business.

Thats why I've always preached against home inspectors doing WDI reports. Its way too much liability for the 75. bucks you might get.

rick

Jim Luttrall · #21 (**permalink**) 09-09-2008, 09:35 PM

Yeah Rick, I don't do WDI and disclaim it in my reports, but it would be nice to have the coverage to defend against any lawsuits in that vein.
As they say, people can sue for anything, they may not win, but that is several thousand dollars worth of legal expenses down the road. I can understand not providing coverage as a pest control guy, but if a beam collapses due to termite damage that I don't catch... I'm on the hook until I prove I could not see it or report on it.
Kind of a catch-22.