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#397037 - 12/16/11 04:00 PM
Individual Agent E&O in California?? How much???
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Member
Registered: 09/30/09
Posts: 135
Loc: Atherton, California
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Anyone have individual agent e&o? how much are you paying per year??? my company's e&o policy expired 2 weeks ago and most of the bpo companies put my accounts on hold till I submit a new policy. My broker said they're in the middle of negotiating a new e&o policy, but I think it's better if I just get my own policy so I dont have to go thru this again, Do any of you guys have individual agent E&O ? I'll prob just pick up my own e&o If I can get it for $300 a year or under.
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#397040 - 12/16/11 05:33 PM
Re: Individual Agent E&O in California?? How much???
[Re: Wupadupa]
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Member
Registered: 10/31/07
Posts: 281
Loc: Sacramento
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I pay $1200. If you find it ofr $300 let me know. That would be a steal, but I think you would get what you paid for.
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#397041 - 12/16/11 05:33 PM
Re: Individual Agent E&O in California?? How much???
[Re: Wupadupa]
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Member
Registered: 10/31/07
Posts: 281
Loc: Sacramento
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I pay $1200. If you find it for $300 let me know. That would be a steal, but I think you would get what you paid for.
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#397044 - 12/16/11 05:38 PM
Re: Individual Agent E&O in California?? How much???
[Re: Wupadupa]
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Veteran Member
Registered: 08/01/06
Posts: 1123
Loc: Downey, California
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Anyone have individual agent e&o? how much are you paying per year??? my company's e&o policy expired 2 weeks ago and most of the bpo companies put my accounts on hold till I submit a new policy. My broker said they're in the middle of negotiating a new e&o policy, but I think it's better if I just get my own policy so I dont have to go thru this again, Do any of you guys have individual agent E&O ? I'll prob just pick up my own e&o If I can get it for $300 a year or under. If the broker allowed his coverge to lapse, he will have a hard time getting a preferred premium.
_________________________
"People rarely succeed unless they have fun in what they are doing"....Dale Carnegie
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#397052 - 12/16/11 07:42 PM
Re: Individual Agent E&O in California?? How much???
[Re: Wupadupa]
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Major Contributor
Registered: 11/06/07
Posts: 1602
Loc: Nevada
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$300 per year ain't gonna happen, for an individual policy.
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#397063 - 12/17/11 12:44 AM
Re: Individual Agent E&O in California?? How much???
[Re: Wupadupa]
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Member
Registered: 11/24/10
Posts: 35
Loc: California
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I'm in California. I pay about $1300 per year. You will not find it for $300.
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#397070 - 12/17/11 04:46 AM
Re: Individual Agent E&O in California?? How much???
[Re: Wupadupa]
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Major Contributor
Registered: 11/15/06
Posts: 2050
Loc: The Middle of the Interstate
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Let their policy lapse? Negotiating for a new policy?
I would be verwy verwy afrwaid. Because guess who is also liable. YOU
I would also be out looking for a broker who was stable.
_________________________
Broker-Owner Thirteen Years REO Experience
GRI,CRS,CRB,e-Pro
Some days I feel like the bug, other days I feel like the windshield
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#397076 - 12/17/11 09:10 AM
Re: Individual Agent E&O in California?? How much???
[Re: Wupadupa]
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Major Contributor
Registered: 04/12/08
Posts: 4726
Loc: Vermont's North-East Kingdom
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And now that he has allowed the prior policy to lapse . . . . you'll probably need to purchase a policy with coverage for "prior acts"; because you've now lost your continuity of coverage.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"
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#397115 - 12/18/11 08:37 PM
Re: Individual Agent E&O in California?? How much???
[Re: VABroker]
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Veteran Member
Registered: 08/27/07
Posts: 519
Loc: FLORIDA
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Anyone know of an E and O company that actually write for REO realtors? The quick form applications we've filled out so far exclude practices like cash for key negotiations,etc.
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#397138 - 12/19/11 09:49 AM
Re: Individual Agent E&O in California?? How much???
[Re: STEW]
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Veteran Member
Registered: 12/03/05
Posts: 692
Loc: South Central Kansas
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Yes. I have had coverage with several E&O carriers before settling on CNA for several renewals of my REO business. The costs was very reasonable and I went through Pinnacle Insurance Co of Scottsdale, AZ. Iwould recommend you contact Brittany Robinson (480) 585-9770 and see what they could do for you. It is a lengthy application to fill out with documentation required but thats what it takes to get the best value of E&O coverage options.
_________________________
Roy J Foster, KS Lic #BR0039462 R J Foster & Assoc., LLC Cert. A*REO Agent Cert. FHA Inspector ID G551 Cert. FHA 203K Consultant ID D0631 Cert. FHA LBP Maintenance Supvr ID 7534 Cert. Vendor Resource Management REO Specialist 316-771-7419 http://www.investment-properties.org"I am only as strong as the coffee I drink and the hairspray I use."
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#397734 - 12/29/11 01:36 PM
Re: Individual Agent E&O in California?? How much???
[Re: Wupadupa]
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Junior Member
Registered: 11/10/11
Posts: 2
Loc: Texas
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As far as I know, e&o in California is more expensive than other states and starts at around $1,000 per year.
You should see if my insurance agent can help you, they specialize in e&o for real estate:
www.reproinsurance.com
1-877-245-5887
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Registered: 05/24/12
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