Originally Posted By: Terry Porter This post was automatically imported from our archived forum.
This might be too personal of a question, but here it goes. Who on this board carries E&O insurance? If you would rather reply via PM, I’ll understand (as well as if you would rather not reply at all).
I'm just wondering as I'm still trying to put together a $ figure for first year operating expenses.
In addition, if any of y'all would be kind enough to talk with me about the creation of the business (i.e. legal, accounting, etc), I would be more than appreciative.
I know this is asking alot when I am intruding upon your profession, so I will send thanks in advance for any direction y'all might be able to provide.
Originally Posted By: Brian A. Goodman This post was automatically imported from our archived forum.
I must carry E&O by law here. I can’t recall the price, but mine is with FREA and they post prices on thier website. I’ve heard from a couple of other HI’s that when the time came FREA didn’ t move to cough-up and settle even though the HI’s were right.
Originally Posted By: wcampbell This post was automatically imported from our archived forum.
Terry, if you’re askong about E&O here in Texas, we arn’t required to carry it. We have the Home Inspectors Recovery fund sent up by TREC. As for myself, I don’t carry extra E&O, Can’t afford it. You may that we can’t afford not to carry it. Well, at this point of our buissness, we have nothing that we could be sued for.
Originally Posted By: pdacey This post was automatically imported from our archived forum.
I carry E & O. I have mine with FREA. You can expect to pay about $3500 for the first year. As long as you don't have any claims, it will go down significantly in the second year. I just renewed and I think the figure was around $2700. That also included a discount for being a NACHI member.