At last nights North Texas NACHI meeting we had a visit from an Allstate Agent who spoke of E&O for Texas Inspectors. He did mention that one of his clients, a new Texas Inspector, just received his E&O quote from the underwriter he uses. The quote for a $250K policy was approximately $850. No in depth details were provided as he was trying to keep his presentation short (there were other vendors in line at the time).
Drop him a line and see what he can do for you. It would be interesting to see the quoted amounts.
Mr. Robert Dupuis
Agent, Allstate
1333 W. McDermott Dr., Suite 200
Allen, TX 75013
Phone 214-547-7222
Cell 903-271-2460
Fax 214-547-0061
email RobertDupuis@allstate.com
I spoke, at length, with Mr. Dupuis today and thoroughly enjoyed our discussion. I have my applications (E&O, GL and Bonding) and will complete them tomorrow. Applications are standard questions and nothing offensive or ridiculous. If the quotes come back as expected from our conversation then I will certainly be a very happy person!!
I am sure there will be features/coverage differences from other carriers but I just need the basics and it appears this will cover that. We shall see what the final picture is.
One other note to add. In addition to Inspections I offer other property services. I have checked with many carriers and none will write one GL policy to cover both aspects of my business. That means 2 X $$$ for GL coverage. I have been told that I can obtain 1 X $$$ coverage for GL. In other words I am not paying double for two separate GL policies.
User Name: mboyett
Location: Austin, TX
Posts: 1,982
Re: John McKenna, Valerie Green, Nick Gromicko, Ben Garrison… Dallas, Tues.
I’d hardly call 28-21 a ‘trouncing’…that’s kind of like saying Colorado trounced OU the week before…besides, what makes you think you would be welcome regardless of the score? :mrgreen:
You have a very short memory I don’t; I was waiting for a face to face:D
During our conversation I actually did speak to him about his capabilities out of the state of Texas. He has considered obtaining licenses in other states or at least affiliations in other states. At this time though he does quite a bit of business here in Texas and keeps busy. He has thought about expanding but not at the present time.
I will not disagree with that point. But for other than that reason please answer these questions:
If an agent has done nothing wrong during a transaction then why should they be concerned?
E&O costs for Agents are significantly less than for HI’s allowing them to buy much larger coverage for much less of a premium. Why would the agent need the HI’s E&O to cover them?
Again, other than your point above and inclusive of any referring party, what benefit does referring party coverage provide to the HI?
An agent who has done nothing wrong should be concerned about being sued for the same reason a home inspector who has done nothing wrong should be concerned about being sued… legal defense costs.
I don’t know if agents need it. Agent need is not a reason to buy E&O that covers the agent who referred you from negligent referral claims. Marketing YOUR business is. Why do something to assist some real estate business? You have enough work to do running your own business. Buy E&O that covers the agent that referred you because it helps YOUR business, not the agent’s.
A powerful marketing benefit to the HI’s business.
