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Lee-AR
Arkansas
678 Posts |
 Posted - 12/24/2013 : 08:39:57 AM
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For years I've been saying that 100k E&O simply makes you a bigger target. Recently, even the NNA has stated that any amount over $25k is simply lawyer-bait. If you want more than the minimum required by your state (or who you work with), you might be better off looking into General Liability insurance--which covers far more than E&O.
If you don't value your time and experience, nobody else will. |
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jburkhalter
Texas
9 Posts |
Posted - 12/22/2013 : 9:18:20 PM
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The NNA and AAN typically use the same carrier, and the premiums are neck to neck. Because of their national presence, I highly recommend coverage through either of them. Coverage usually starts at $5k to $10k but I would recommend at least $25k. Alternatively, if you incorporate your business, Hiscox insurance can insure you up to $1 million and they have a great reputation for NSA's. Keep your expenses down until you see increased volume, then you can always upgrade your policy down the road.
I'm not rehearsed in your state but I believe if my memory is correct, you have to have a title producer license and/or an attorney on staff or affiliation with an attorney to perform real estate closings. If that were true, then I would look into your current business E&O as they might be able to add an endorsement keeping costs minimal and avoid the need of a separate policy.
Good luck to you, and remember, being over-insured is better than being under insured. |
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Dkaufmann
Maryland
4 Posts |
Posted - 09/03/2013 : 11:54:30 AM
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I am new and just getting all my licenses, etc. Can anyone recommend a good E&O company? Are the policies offered by NNA and AAN OK?
Doreen Kaufmann |
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E&O Insurance
