Thread: E&O

This is kicked around often but I thought the lastest recommendations would be best. What are some good E&O companies.

Originally Posted by mathew stouffer

This is kicked around often but I thought the lastest recommendations would be best. What are some good E&O companies.

No such thing as a good insurance company

By the way. Here in Texas I can almost say but not quite sure at the moment, my insurance company changes almost every year. I get a letter to ignore the letter coming from the insurance company for cancellation. Next thing I get is the next one in line. It is actually slightly less expensive all the time.

My folks out of Plan Texas renew me every year and almost every year it is either a different company or they are cancelling and I am picking it up from the same company for slightly less.

Interesting. Thank you. Who it the company, are they interstate.

I like Capitol Special Risk out of Atlanta.

Niccole Barnes, heads up their home inspector E&O
Phone: (770) 618-2842

She/they are a broker and can shop several carriers to fit your needs, they do not offer a one size fits all like some do. I have coverage that covers my EW work, radon testing, new construction inspections, consulting work, GL coverage in addition to my GL umbrella coverage, and a few more coverage tossed in the package. United National Insurance Co is my insurer.

They offer a monthly payment plan if you need it. Also if you have passed the NHIE they offer a discount.

They are the folks that do the coverage for BRP, it is just a different package.

The company in Texas is----

Superior Insurance Services, Inc. Barbara Robertson
1347 19th Street (972)423-2300
Plano TX 75074

The Insurance carrier

Westchester Fire

Ive been with Capital Special Risks for several years. Niccole has switched companies for me a couple times to get a better rate. She is great!

Originally Posted by Jack Feldmann

Ive been with Capital Special Risks for several years. Niccole has switched companies for me a couple times to get a better rate. She is great!

Same here..

Thanks I will give her a call. Figure its about time to get back on the E&O wagon

Check out InspectorPro Insurance Program which I get through Citadel Insurance Services. They cut my E&O expense by 20+% AND eliminated my GL expense (because GL is part of their E&O policy and they won't sever it).

Contacts are:

Brady Adams, 801-610-2704, badams@citadelus.com
Ryan Osborne, 801-610-2705, rosborne@citadelus.com

All the best,
Bruce Low
Bottom Line Home Inspection

The Bottom Line - Through an Engineer's Eyes

Originally Posted by mathew stouffer

This is kicked around often but I thought the lastest recommendations would be best. What are some good E&O companies.

Hi Mathew, I've use this insurance company ever since I started . They are very good and repond to any issue. I've been very happy with them and my premium has come down every year. Here is my contact there:

Alison Lowell
North American Professional Liability Insurance Agency, LLC
5 Whittier Street, 4th Floor
Framingham, MA 01701
North American Professional Liability Insurance Agency - Errors & Omissions
Phone: 866-262-7542
Fax: 508-656-1396

Originally Posted by Bruce Low

Check out InspectorPro Insurance Program which I get through Citadel Insurance Services. They cut my E&O expense by 20+% AND eliminated my GL expense (because GL is part of their E&O policy and they won't sever it).

Contacts are:

Brady Adams, 801-610-2704, badams@citadelus.com
Ryan Osborne, 801-610-2705, rosborne@citadelus.com

All the best,
Bruce Low
Bottom Line Home Inspection

The Bottom Line - Through an Engineer's Eyes

I understand they are a good company as well, but I would investigate the GL that is part of their coverage. It is not the same a standalone GL policy; the GL that is attached to the E&O only covers you at the inspection. It provides no protection away from the inspection or if you do something that is not part of a covered home inspection. Say you go and look at a single item such a roof, etc. You put your ladder through a window, chances are your GL that is part of that E&O will not cover it since it was not part of a normal home inspection. You really need to check on that type of GL coverage and see what it does not cover more than what it covers.

Standalone GL is cheap, you can get $1M in coverage for less than $400 a year. Contact the company that has your homeowners coverage to see if they offer business GL coverage. I have a $2M umbrella policy and I pay less than $500 a year for it.

E&O is a required business expense in my state. It runs around $2000.00/yr. (seems to vary over time)

It pays to shop around for rate comparisons as they diifer year to year from carrier to carrier.

I see no real value in keeping the same firm. You pay the premium and you don't hear from anyone until it is time to renew. (or you get sued ) Also, you are still required to fill out a similar form with all carriers.

Whether or not the insurance is worth it is a whole different subject and very emotional with most inspectors.

If you switch insurance companies, what happens to tail coverage from past years? Something to check on before dropping a company, I think.

The best insurance is a contract that does it's best to limit damages. That said E&O rates are really down from their recent past.

Originally Posted by John Kogel

If you switch insurance companies, what happens to tail coverage from past years? Something to check on before dropping a company, I think.

From what I understand the new company picks it up, as long as you had prior coverage.

Originally Posted by John Kogel

If you switch insurance companies, what happens to tail coverage from past years? Something to check on before dropping a company, I think.

Not a problem.

The insurance carrier picks it up, no cost premium. You just can't let your insurance lapse.

Originally Posted by John Kogel

If you switch insurance companies, what happens to tail coverage from past years? Something to check on before dropping a company, I think.

Hi John, I was told that they cover items from past year that you were insured by you old company during the period of your old coverage.
Hope this helps

Originally Posted by Dan Harris

From what I understand the new company picks it up, as long as you had prior coverage.

I don't know of a guarantee that this is the case. At least worth checking the details before you sign the dotted line. The different providers seem to be finding creative ways to undercut the premiums of their competition.

Mathew, I use InspectorPro, information is in Bruce Low post. No problems yet. I think they are or used to be a sponsor here.

Hi Matthew,

My name is David Brauner, Senior Broker at OREP.org. I’ve been serving Home Inspectors for that last 11 years as an insurance broker and publisher of Working RE Magazine. OREP works with several A rated carriers to get you the best pricing. OREP also has a variety of Member benefits for our insureds, including discounts on a host of products and services.

A new program that we introduced last year includes premises coverage (Bodily Injury and Property Damage), as well as a host of other incidental coverages, such as termite, radon, and commercial, in the minimum premium.

If you’re still looking for a quality program, I encourage you to give us a call at 888-347-5273.

David Brauner
Appraisers Errors & Omissions Insurance - Real Estate Home Inspectors Liability E&O Insurance

Thanks for the timely thread. I am a new inspector just about to turn in my license application in Alabama. E&O and GL are next on my list. Wondering if anyone bumps up their coverage or do most inspectors only carry the minimum required for licensing in their state?

Anyone have any feelings one way or another about FREA?

Yes I do!
I had a problem. I found the person asigned to me to be quite uninterested in getting me to a proper resolution. I eventually worked it out myself and found another carrier. Could have been him. I don't know. But it left a bad taste in my mouth.
And a note to the FREA executive reading this: Don't call me. It's history.
FREA is also high priced. Shop around. I ended up going with Hartford after a stint with State Farm.

JLMathis

Unless you want to pay $4000 dollars plus a year for insurance stay the hell away from Frea. You can get the same coverage from most carriers for less than half the price. I have Preffered Contractures Ins. Co. I have $1 Million E & O & $1 million GL for less than $2000 a year.

Originally Posted by Charles Lander II

Anyone have any feelings one way or another about FREA?

I was with them for 3 or 4 years. Felt they were a good company, I didn't need them for any claim issues. They were prompt with getting paper work /proof of insurance when I needed it.

Pricing, they were a little higher then the company I switched to.

The only reason I switched was they decided if I wanted special treatment, [ie: pay an individual $300.00 to get a 0 deductable] , I would need to buy an on-line super master certification from another org.opposed to accepting a verified certificiation from the association I am a member of.
Other wise I would still be with them.
I am one that is willing to not look at the cost only, and tend to stick with 1 company unless I feel they did me wrong.

Do any of you guys know anything about Fox Point Programs? The carrier is International Insurance Company of Hannover. The agent/underwriter I talked to is Tom Foulds.