I remember some discusson awhile back about the well known insurance companies that get into E&O for a short time then cancel the policies abrubtly. I doubt if it is due to claims but rather lack of customers.
I wish Nick would hire us an independent insurance consultant to read and interpret all the policies for us.
I guess the truth is that there are just too many gray areas that no one can truly evaluate these policies based on real life events. Every event has its own particulars and is handled on a case by case basis.
I have heard inspectors say “if you have E&O with so and so, you better change” but they don’t offer up any details.
State Farm definitely does. I got a quote from my State Farm agent and it was from State Farm directly. I did not select them but they do provide it. You may have to do a bit of education on you agent but he can get you a quote.
I got a quote from Farmers about 3 years ago. It could only be written through the commercial side and was actually going to be a spin off of a construction policy. They have little, if any experience with the home inspection industry. The limited policy quote I finally received was twice my Allen Insurance policy premium for about half the coverage.
Again, let’s not waste each others time. If someone has a real, practical, legitimate E & O policy offer, let’s hear some particulars…
I asked for particulars through IM. He responded and told me the guy he worked with only writes policies in his area. He then told me to contact his guy to see if he can refer me to a ALLState agent here in MO. Once I find out something I’ll let you guys know.
No I am not related to Robert Dupuis, only met him a year ago. To answer another expected question, no I do not receive anything from this, no kickbacks, no commissions, no discounts on my rates, nothing but a good policy.
As for the policy details, Texas Inspectors are welcome to email or call Robert and he will send you a specimen policy with the coverages included, and they are very broad. For Inspectors not in Texas, Robert is a very helpful person and will try to refer you to an Agent in your state who can write the policy.
The last question of note is the premium amount. Well, for this same policy limits I have been quoted $1250 - $1800 a year. The other policies contained enough exclusions in them that there was, in some cases, no worthwhile coverage. My policy with Robert is costing me well under $1250 and covers everything I need!
Is the policy worth it? I certainly think so! When I purchase insurance I am extremely anal about wording, depth, detail, etc., etc. and do not hesitate to question what I find. I’ve read every policy backwards and forwards looking for catches. Robert’s policy is acceptable to me and certainly the cost is.
I do apologize for the delay in answering but have been busy with reports and client business dealings.