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#194425 - 01/17/08 06:01 PM How much is an E&O insurance policy
sc1stewart Offline
Member

Registered: 10/29/07
Posts: 28
Loc: Ohio
Hi everyone, just wanted to ask anyone, How much is the average e&o insurance policy would be? I know it varies...just want to get an average amount

Thanks

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#194429 - 01/17/08 06:15 PM Re: How much is an E&O insurance policy [Re: sc1stewart]
Mr. Foreclosure Offline
Major Contributor

Registered: 09/01/06
Posts: 2834
Loc: upstate New York
You should be able to search the forum as this has been discussed before.

As an agent in a multi-agent office it would depend on how your broker allocates his cost.

If you are a broker asking about cost for your office it will depend on the amount of coverage you desire, how much of a deductible you are willing to risk, and the volume of business your company processes.

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#205972 - 02/25/08 04:14 AM Re: How much is an E&O insurance policy [Re: Mr. Foreclosure]
Toby_Munk Offline
Member

Registered: 02/24/08
Posts: 38
Loc: Colorado, USA
E&O costs me about $275 per year in Colorado
_________________________
Toby Munk is a Realtor for luxury Aspen Real Estate. His focus is on online marketing offering Aspen & Snowmass MLS search and other resources to clients interested in luxury real estate.

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#206083 - 02/25/08 03:24 PM Re: How much is an E&O insurance policy [Re: Toby_Munk]
Jeff Remas Offline
Member

Registered: 02/16/08
Posts: 27
Loc: Northeastern Pennsylvania and ...
$4,000. per year for a home inspector.
_________________________
Jeff Remas
REMAS Inspections, Inc.
[url=www.remasinspections.com]www.remasinspections.com[/url]
[url=www.PAinspector.com]www.PAinspector.com[/url]
877-223-4462

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#212476 - 03/18/08 12:34 AM Re: How much is an E&O insurance policy [Re: Jeff Remas]
Jumper Offline
Member

Registered: 05/10/07
Posts: 14
Loc: OH
$590 for one million dollars worth of coverage for an appraiser in Ohio.

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#213034 - 03/19/08 05:36 PM Re: How much is an E&O insurance policy [Re: Jumper]
Jim Lee Offline
Major Contributor

Registered: 07/01/99
Posts: 4785
Loc: Knoxville, Tennessee, Knox Cou...
We have a great deal in Tennessee. E & O is mandatory for all Tenenssee licensees.

 Quote:
The two-year premium payment of $306.00 per licensee for the group program is now due, if you wish
to participate in the group program. The group program provides the required limits of $100,000/$300,000 per licensee
with a $1,000 deductible for damages. ACTIVE licensees (brokers and salespersons) are REQUIRED to carry E&O
insurance. A firm is not required to carry E&O insurance.
_________________________
Jim Lee, REALTORŪ, CRS, ABR, e-PRO
[url=www.KnoxvilleHomeCenter.com]www.KnoxvilleHomeCenter.com[/url]
[url=www.KnoxvilleTennesseeRealEstateBlog.com]www.KnoxvilleTennesseeRealEstateBlog.com[/url]
I am not an attorney & I am not giving you any legal advice.

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#213222 - 03/20/08 04:39 AM Re: How much is an E&O insurance policy [Re: Jim Lee]
Makin' Money Offline
Veteran Member

Registered: 04/01/06
Posts: 1280
Loc: Indiana
$750/$500,000 in Indiana

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#216508 - 04/01/08 09:38 PM Re: How much is an E&O insurance policy [Re: Makin' Money]
Duncan Pollock Offline
Member

Registered: 06/28/04
Posts: 148
Loc: Ontario, Canada
In Canada there's a blanket policy that's been negotiated by the Canadian Real Estate Association, to which all licensed agents have to belong.
The one (still being argued about) question is some reservations/conditions that apply to appraisals, but that's a different story.

Duncan
_________________________
Acts as an Exclusive Buyer Broker for residential and non-residential properties in Canada's Niagara Peninsula.

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#220412 - 04/17/08 02:28 PM Re: How much is an E&O insurance policy [Re: Duncan Pollock]
KLM Offline
Member

Registered: 03/25/08
Posts: 65
Loc: KCMO
$250/500,000 in Missouri

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#221341 - 04/21/08 04:26 PM Re: How much is an E&O insurance policy [Re: KLM]
beansie53 Offline
Member

Registered: 04/10/08
Posts: 258
Loc: Michigan
$1900 for 1,000,000/2,000,000. I have a Real Estate and an Insurance Brokereage under one E & O policy.
_________________________
REO/BPO's are my game, Jack is my name.
5th Generation Broker
Est. 1922

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#221349 - 04/21/08 04:59 PM Re: How much is an E&O insurance policy [Re: beansie53]
SrM Offline
Member

Registered: 11/08/07
Posts: 390
Loc: California
I pay $1675 a year through my broker. That's one of the payments I dread every year.

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#457787 - 05/16/17 02:13 AM Re: How much is an E&O insurance policy [Re: sc1stewart]
Jo wanna Offline
Junior Member

Registered: 05/16/17
Posts: 1
Loc: canada
this seems to be worth checking out coveradvantage.ca

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