Anyone having difficulty finding e&o insurance for a new re brokerage? I am, and what I have been able to find is really expensive. Any suggestions? I'm in the San Diego area.

Thanks!

Do a search on "insurance", there have been previous threads on the subject with many names that you can check with for comparative pricing.

I use General Star.

Its through Herbert Landy Insurance in Massachusetts about 1,400 yr

Have you checked CRES Insurance?
San Diego, CA 92150 P: (800) 880-2747.

If is a new brokerage with no past sales, you should have the minimum.

I just renewed with them this summer.

We use REOAdvisors.

Check with:

Matthew S. Karl
National Sales Executive
REO Advisors
1881 University Drive Suite 110
Coral Springs, Fl 33071
P 1.800.753.3557 X-202
F 1.800.228.5525
matt at reoadvisors.com
www.reoadvisors.com

Hello sunflwr,

I noticed that there were no responses from a CA broker yet. I’m just starting in Riverside County. Recently, I’ve requested quotes from the following – CRES, Alandale, Linsin Sherman Associates & Real Estate Risk Management.

I just started the business and have never had insurance before. In talking with the insurance agents they said new companies were not really a problem since there would be no exposure to liability for “prior acts” or transactions that have closed with no insurance in place.

I looked at the per-transaction option and it ranged from $92 to $115 per transaction with a minimum of $600 for the year.

So far (I only have 2 quotes back), the fixed policies are ranging from $990 to $1,430 based on coverage options.

Here are some email addresses if you want to contact any of these companies. (I tried to protect their email addresses from the email harvesting programs)

CRES - Guillermo “Memo” Ganir – gganir*cresinsurance{dot}com
Alandale - Cara Hess – cara*alandale{dot}com
Linsin Sherman - Jamie Davis - j.davis*linsinsherman{dot}com
RERM - Candice Ray – Candice*rerm{dot}com

Who gave you the best rate, We are always looking to save money,

I have Cres, They are quick and easy to deal with, I am just shopping for new insurance, e&o, Gen. liab and work comp,

I tried per transaction 1x the ledgers are a pain and it is cheaper just to get a regular policy,

This was for E&O 1m/1m w/ $2,500 ded - included some loan brokerage as well
CRES-$1,169
Linsin Sherman - $1,431
RERM-$1,759
Alandale - $5,800

Cres was also the best on my Gen liab and work comp.

Broker Paul, looks like you're already w/ a good company.

If anyone else has found something better, let us know.

Hi. My name is Chris Edwards and I'm a new member here as well. I saw your post and was wondering if you found E & O insurance. If you have, perhaps you could share with me. I'm looking myself.

I'm in Brentwood.. Los Angeles.

Thanks!
Chris Edwards
EDWARDS ESTATES

I have quotes from the 4 companies I mentioned in this post. All I need to do is sign one and send them a check. Send them an email and I'm sure they'll help you out.

Anyone heard of Calsurance?? They don't underwrite directly. My current broker uses them. I am going on my own in Jan. and am checking with them, as well as some of the names above.

What other forms of insurance do you one man companies use? I don't plan to supervise anyone. Just me!

I'm a one person operation too. Since I operate out of an office in my home I have a rider on my homeowner's insurance to cover any liability if some one is injured on my property while here on business.

I'm in Riverside and the best one I've found for general liability insurance is Allstate. My broker is in the bay area and, while their rate was not the lowest, it was next to the lowest and completely reasonable. The deposit was low and the payments are only about $80 per month.

When I was concerned about adding Washington, where I'm opening a satellite operation in January, she found out for me that my insurance company partners with a couple of other western states. Now I know that, I feel better. I won't have to shop again before I open the new location. Once I make my move, all I have to do is call up and add the new state.

Too bad they don't partner with Arizona, though, where my other operation is. I have to have a separate policy for that state.

All in all, though, I'm really happy with my broker and the level of service I get anytime I have a question. She's always right on top of it.

Linda

Mr. F,

What about E&O? Do you just have liability on your home??

You must have E&O if you work with foreclosures.

*EDIT*

I just got a quote from a company called Brown & Brown, they write for Gotham?

Anyone heard of them?

The quote was for E&O @ $750.00 / YR. 1,000,000/1,000,000 2500 deductible.

To all the smaller operations, out of home workers and the like, do you have any other kind of insurance to protect your home or other possessions???

floater:

Yes, I have E&O (through Pearl, I've heard of Brown & Brown but don't really know anything more about them).

My home initially had a typical homeowner policy (fire, wind, personal liability, etc.). When I left my former sponsoring broker to be in business as broker myself I made the decision to have my office in my home rather than taking on another "brick and mortar" location. As such I obtained the rider to cover business use liablity coverage. My post was to alert other brokers that might be in a similar situation to the that type of coverage.

Mr. Foreclosure