# There has to be other Errors &amp; Omissions providers



## Guest (Sep 6, 2011)

Hey there, 

Im currently under a blanket policy but due to expanding I need to get an full errors & omissions policy to cover all clients. I know there is 1 in the industry that is very large. Well called them and they wanted nearly $3k for both liability and errors. There has to be other avenues for an errors policy. My liability I currently have is very good and covers preservation...and its under $800 per yr. So looking for errors policy suggestions.

Thanks!


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## thanohano44 (Aug 5, 2012)

arpreservation said:


> hey there,
> 
> im currently under a blanket policy but due to expanding i need to get an full errors & omissions policy to cover all clients. I know there is 1 in the industry that is very large. Well called them and they wanted nearly $3k for both liability and errors. There has to be other avenues for an errors policy. My liability i currently have is very good and covers preservation...and its under $800 per yr. So looking for errors policy suggestions.
> 
> Thanks!


orep.


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## Guest (Sep 6, 2011)

Perfect, like their prices thank u!!!


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## Guest (Sep 6, 2011)

Ahhhh, the wonderful world of legal robbery.....I mean insurance. 
Biggest thieves on the face of the earth!!


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## mtmtnman (May 1, 2012)

E&O is a joke. Only a few companies require it. Realtors cannot believe that a contractor would be required to carry it. Just another avenue for a National to bang you. I'm betting YJ pays some big kickbacks to a couple of large nationals. The bad thing about E&O is it goes off your entire gross. Say you gross 200K a year and only one of your companies requires E&O is only 20K of you business. It would be logical to pay E&O on that 20K but NOOOO, you have to pay E&O on 200K!!!


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## GTX63 (Apr 12, 2012)

Yes, we found the rates were very unreasonable and local ocverage was unnacceptable to the big boys. What irked us was when we had decided to quit paying for their E & O after 6 years and they still continued to use us as long as we provided them with our GL!! Could have used that money for a lot of other things.
FYI, that won't apply to everyone as it depends on how many contractors are signed on in your specific area. In our case, they couldn't find anyone else dumb enough to do the work for them so we have multiple companies that just take us as we are.


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## mtmtnman (May 1, 2012)

GTX63 said:


> Yes, we found the rates were very unreasonable and local ocverage was unnacceptable to the big boys. What irked us was when we had decided to quit paying for their E & O after 6 years and they still continued to use us as long as we provided them with our GL!! Could have used that money for a lot of other things.
> FYI, that won't apply to everyone as it depends on how many contractors are signed on in your specific area. In our case, they couldn't find anyone else dumb enough to do the work for them so we have multiple companies that just take us as we are.



I have heard that from a few others...........


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## Guest (Sep 24, 2011)

I posted a thread about insurance prior to seeing this.
The nationals insist on us carrying insurance and listing them as "additionally insured" because they do not carry their own insurance....
By lsiting them as "additionally insured" we ARE insuring them....


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## brm1109 (Sep 17, 2012)

When I started doing pp work, my insurance agent actually contacted a couple of the companies I work for and was told that as long as I had the general liability it was fine. But he did also add contracting onto it for me so that it basically covers everything we do in pp.
Based on the expense of the E&O insurance and fee paid in general I will not work for any company that requires it. It is just not cost effective.


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## david (Apr 11, 2012)

some nationals require this e+o,i have also been told by realtors e+o is mainly for realtors and its just a scam for nationals to get more money from vendors to fatten their wallet,that vendors do not need to carry it


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## thanohano44 (Aug 5, 2012)

d+jhomeservices said:


> some nationals require this e+o,i have also been told by realtors e+o is mainly for realtors and its just a scam for nationals to get more money from vendors to fatten their wallet,that vendors do not need to carry it


Too bad the realtors don't have all of the work.


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## david (Apr 11, 2012)

than this is true gotta make the money where u can and they know they have you over a barrel if you want the work.


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