Coral Point / Lexington Insurance

[Rick Bunzel]

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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[Ron Bibler]

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

[Matthew Barnicle]

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

[John Arnold]

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

FREA
E&O Insurance Overview - USA

[Ben Garrison]

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.

[Darren Miller]

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