Originally Posted By: pstack-oconnor
This post was automatically imported from our archived forum.
I requested an insurance quote from Nations Hazard on the 19th and then started a search for info on the company and found the long discussion on this board that started last year. Needless to say I won’t be buying insurance from them but FYI they did send me a quote today. If I hadn’t read the discussion I would have purchased from him just based on his turn around time. I’ll try to attach the quote if anyone is interested.
Friday, February 20, 2004
Nations Hazard Insurance
180 S. Western Avenue, PMB 273
Carpentersville, Illinois 60110
Falls Church, Virginia 22042
Attention: Patrick Stack O'Connor
E-Mail Address: Patrick@Stacko.net
Dear Sir or Madam:
We are pleased to present you with our quotation for the Nations Hazard *Occurrence Based Insurance Plan H2000, which combines the E & O Insurance for liability coverage with prepaid legal insurance.
Your Proposal is as follows for a Sole Proprietorship:
Coverage is for 1 year term commencing with binding date. Binding Date is the date that signed documents are faxed back to our office and the processing of the 1st payment.
E & O Coverage: $1,000,000 Aggregate (Total of Policy Terms)
$ 500,000 Per Occurrence (Each Claim a Separate Occurrence)
$ 500.00 Deductible per Occurrence (Each Claim)
To explain the above: The Aggregate Coverage is the limit of the policy over the one (1) year term. You are liable for any combined judgments over $1,000,000 and you are also liable for any single judgment over $500,000. The $500 deductible is for each claim not total for all claims during the policy term.
*Occurrence Based vs. Claims Based is an important criterion in choosing a policy. Refer to ?Question and Answer? section of website http://www.nationshazard.com
for complete comparison.
Please check which coverage you would like to contract for:
Principal, CEO, Senior Partner - $175.00 per month [ ]
Entity with multiple inspectors - $30.00 per each additional
employee inspector per month
? Enter # to be covered ( ) [ ]
Entity with multiple inspectors - $80.00 per each additional
sub-contractor inspector per month
? Enter # to be covered ( ) [ ]
Commercial/Industrial Inspections - $15.00 per month [ ]
Lead Paint Inspections & Testing - $10.00 per month [ ]
Termites (WDI)/Pests Inspection - $18.00 per month [ ]
Radon Testing & Reporting - $8.00 per month [ ]
Mold Testing & Reporting - 58.00 per month [ ]
Septic System Testing & Reporting - $10.00 per month [ ]
Water Testing & Reporting - $8.00 per month [ ]
FHA 203k Consulting Services - $10.00 per month [ ]
*General Liability Coverage - $60.00 per month [ ]
Fidelity Bond - $5,000 increments @ $5.00 per month per
increment - # of increments - [ ] per inspector [ ]
Increase Coverage from base of $500,000/$1,000,000
to $1,000,000/$2,000,000 - $28.00 per month [ ]
PA Building Code Official & Third Party Agency Certification
(Requires Increase coverage rider of $1,000,000/$2,000,000) - $39.00 per month [ ]
Legal Defense Insurance ? Refer to Cost Sheet for Price [ X ]
Tail Insurance - [ ] years, [ ] # of inspections [ ]
?Pay-as-you-go?? - $395.00 Enrollment Fee [ ]
Payment Method Monthly - [ ] or Annually w/12% Discount - [ ]
Company Name _________________________________________
Telephone # _________________ Time to Call ____________
Effective Date of Coverage: ____/____/_______
Signature ________________________ Date: _________
Fax to: Nations Hazard Insurance @ 501/621-7818
Principal, two (2) payroll inspectors & one (1) sub-contractor inspector.
Principal - $175.00, 2 payroll inspectors - $30.00 x 2 = $60.00, 1 Sub-Contractor inspector ? $80.00 = $300.00 per month
Plus Options (For Example):
Commercial/Industrial Inspections - $15.00
Radon Testing & Reporting - $8.00
Each inspector @ $39.50 per month for Legal Defense Coverage = $39.50 x 4 = $158.00
Your monthly premium would be $496.00 to Nations Hazard Insurance Company,
* General Liability coverage is also available as an option. General Liability covers bodily injury or property damage as a result of the insured?s professional activities. Example: Ladder falls & breaks the picture window; General Liability would cover that occurrence. All deductibles, limits, claim filing, etc. are the same as the Errors & Omissions policy.
Tail Insurance Binder:
Tail insurance is an insurance policy that extends the ?Claims-Made? insurance policy of another carrier for X amount of years. We offer this as an option based on the following chart of pricing:
1 year ? $285.00 2 year - $500.00 3 Year - $642.00
Each additional year over 3 add $115.00 per year.
Number of Inspections during term X $1.40 each inspection
(Note: Be as accurate as possible on the number of inspections, I t is better to pay a little more now than give the insurance company a loophole to get thru later, if there is a claim.
The policy can be either billed monthly or annually.
The monthly bills will be mailed out 15 days before due date and are due on or before the policy anniversary date.
If paid annually, a 12% discount will be applied to the E & O, GL, Legal Defense, any endorsements, and the Tail Insurance portion.
Within 30 days from Date of Binding
You will receive: The Certificate of Insurance, Claim Form, Request for Insurance Certificate Issuance to Third Party Form along with some useful information on avoiding claims in the future and a free review of your inspection contract and suggested changes, additions, deletions, etc. You are not obligated to modify your contract but most of the suggestions, if any, could preempt claims.
We, at Nations Hazard Insurance Company, do hope that you receive this proposal favorably and look forward to being long term partners in your business.
Staff of Nations Hazard
Note: Quotation/Proposal is binding for 30 days from date submitted. Subject to change after that date.
P.S. Fax in ?Check-Box? page and Personal Information page for all inspectors to be named in the policy.
Nations Hazard Insurance
180 South Western Avenue, PMB 273
Carpentersville, Illinois 60110 USA
Personal Information required for processing:
Each inspector and/or sub-contractor inspector that you wish to be covered by the policies needs to give this information on a separate submittal.
NAME OF COMPANY: ________________________________
Social Security #: ______/____/________
Date of Birth: ___(Month) / ___ (Day) / _____ (Year)
Last Name: ________________________________
First Name: ________________________________
Middle Initial: ______
Company Mailing Address ________________________________
Zip + 4 (If known) ________________________________
Home Mailing Address: ________________________________
Apt./Suite #: ______
Zip + 4 ___________________
Office Phone: ______ - ______ - ________ Ext: ____
Office Fax: ______ - ______ - ________
Cell Phone: ______ - ______ - ________
Home Phone: ______ - ______ - ________
E-mail Address: ________________________________
Applicant Signature: ________________________________
Date of Signature: ___(Month) / ___ (Day) / _____ (Year)
Fax to: Nations Hazard Insurance Company @ 501/621-7818
?Pay-as-you-go? is an insurance program to assist the part-time or new inspector in insuring his/her inspections as they build their business.
The policy is all-inclusive, meaning that it covers the Errors and Omissions and General Liability and the same limits as the ?Standard? policy of $500,000 per occurrence, $1,000,000 Aggregate and with a $500.00 deductible. If you require any of the ?special? endorsements, such as: water, radon, mold testing and reporting; then you must add those monthly fees to the base price. Refer to the ?Check Box? page for pricing.
The Enrollment Fee is $395.00, which activates the insurance coverage, and you will be issued five (5) PER-INSPECTION CERTIFICATES OF INSURANCE certificates that must be faxed to our office before, not after the inspection. Additional certificates can be purchased via our website (currently under construction for this plan) or via faxed in order form @ $22.50 per certificate plus $5.95 postage & handling charge, plus any special delivery request, such as Priority Mail or Fed-Ex.
You will also be required to have the Legal Defense Insurance. Costs are different in every state. See pricing sheet attached.
To sign up for this plan, you will need to fax in the ?check box? page, the payment information page, the Personnel information page.
Policies can be issued within 24 hours, if required.
Legal Defense Pricing per State Per Month
There is an One-Time Enrollment Fee of $10.00 for all Legal Defense Policies
Alabama $39.50 Alaska $55.00
Arizona 39.50 Arkansas 39.50
California 39.50 Colorado 39.50
Connecticut 39.50 Delaware 39.50
District of Columbia 39.50 Florida 25.00
Georgia 39.50 Hawaii 49.00
Idaho 16.00 Illinois 39.50
Indiana 39.50 Iowa 39.50
Kansas 39.50 Kentucky 39.50
Louisiana 39.50 Maine 16.00
Maryland 39.50 Massachusetts 39.50
Michigan 39.50 Minnesota 39.50
Mississippi 39.50 Missouri 39.50
Montana 39.50 Nebraska 39.50
Nevada 39.50 New Jersey 9.95
New Hampshire 55.00 New Mexico 39.50
New York 24.00 North Carolina 39.50
North Dakota 16.00 Ohio 39.50
Oklahoma 39.50 Oregon 39.50
Pennsylvania 39.50 Rhode Island 16.00
South Carolina 39.50 South Dakota 16.00
Tennessee 25.00 Texas 25.00
Utah 39.50 Virginia 39.50
Vermont 16.00 Washington 16.00
West Virginia 39.50 Wisconsin 39.50
The above pricing is for the ?Principal? only. Any additional partners, payroll employee inspectors and/or sub-contractor inspectors would only need personnel coverage instead of the ?Principal? who needs personal and business coverage. Call for those rates, as they are different for each state.