Posted by tidarod on 3/21/09 6:25pm
Msg #281623

Errors and Omissions Policy / Insurance

Forgive me if this has been discussed before but I only found a few threads on it and it didn't give me the answer I was looking for.

I understand that some companies ask for $100,000 E&O. I did a lot of work with an escrow office which started doing business with a title company who required it. So I go it. I have had it for a few years and now am up for renewal. The escrow company is no longer in business and I am not sure if I want to get the highest coverage again. I know companies who require it usually think the E&O covers the entire signing but it doesn't. So then there is this SA E&O.

So my question is: 1) If you don't do a lot of business with companies that require the higher E&O, what kind of coverage do you have and 2) has anyone purchase/considered a SA E&O?


Thanks in advance

Reply by Todd/OH on 3/21/09 7:31pm
Msg #281632

I have mine at $50,000. That seems acceptable for most firms. I don't bother with firms that require more.

Reply by sue_pa on 3/22/09 9:51am
Msg #281679

another "brilliant" business decision

...don't bother with firms that require more...

Reply by tidarod on 3/22/09 5:31pm
Msg #281698

Thanks for your input. I agree with you and think I am not going with the 100k again.

Reply by MW/VA on 3/23/09 7:52am
Msg #281740

It isn't about what they require. It is about how much you need. You are insuring you, not them. Will $50K cover legal expenses & protect your personal assets?