[quote=StLbroker]

Any of you guys have to pay for your own E&O at your firm?  I am just starting to make some money and now I have to throw down $1800 to renew my E&O for the year.  i know its not much but it is to me right now.

Just wondering how common this is.

Thanks

[/quote]

I paid 2000/year at my old firm and my new firm is 1400/year. 1800 isn't outrageous. It's just a pain in the butt having to pay higher premiums because of the actions of others.

This is good information.  Mine is close to $200 a month so I guess i am getting screwed.

Or,  my firm has alot of claims to pay off.

Has anyone ever seen this amount go down?

I guess they jack around with the E/O so they can keep high payouts.

[quote=vbrainy]

This is good information.  Mine is close to $200 a month so I guess i am getting screwed.

Or,  my firm has alot of claims to pay off.

Has anyone ever seen this amount go down?

I guess they jack around with the E/O so they can keep high payouts.

[/quote]

I have a list of the 50 largest indy firms and there are only seven with higher E&O than yours. I doubt if they are making money off of the E&O, but it's still pretty high.

$1,700 per year.



We carry a $20,000 deductible.



C

I’m paying $1000 with a $10,000 deductible.

$804 /yr. Guess I got a bargain

Guys, you're all talking about the prices and ignoring the coverage!  It's like saying, "I bought a computer for $300, you're a sucker for paying $1000".

If ExPropTrader is paying $804/year, I'm guessing his coverage is $1MM/claim with a $1MM or $2MM annual max.

My E&O is about $2050/year, with a $5MM/claim, $20MM annual max.  Deductible's vary based on the size of an individual claim, ranging from $20,000 down to $5,000.  I believe it's through AIG.

What kind of coverage are you guys getting for your money?

[quote=FreedomLvr]

Guys, you're all talking about the prices and ignoring the coverage!  It's like saying, "I bought a computer for $300, you're a sucker for paying $1000".

If ExPropTrader is paying $804/year, I'm guessing his coverage is $1MM/claim with a $1MM or $2MM annual max.

My E&O is about $2050/year, with a $5MM/claim, $20MM annual max.  Deductible's vary based on the size of an individual claim, ranging from $20,000 down to $5,000.  I believe it's through AIG.

What kind of coverage are you guys getting for your money?

[/quote]

Good point, my coverage is $5MM/claim, $25MM annual, deductibles vary from $1000-$5000.

I shouldve been more specific.  Mine is $1800/yr with $2MM in coverage.

Do the wirehouses pay for your E&O?

[quote=ExPropTrader][quote=FreedomLvr]

Guys, you're all talking about the prices and ignoring the coverage!  It's like saying, "I bought a computer for $300, you're a sucker for paying $1000".

If ExPropTrader is paying $804/year, I'm guessing his coverage is $1MM/claim with a $1MM or $2MM annual max.

My E&O is about $2050/year, with a $5MM/claim, $20MM annual max.  Deductible's vary based on the size of an individual claim, ranging from $20,000 down to $5,000.  I believe it's through AIG.

What kind of coverage are you guys getting for your money?

[/quote]

Good point, my coverage is $5MM/claim, $25MM annual, deductibles vary from $1000-$5000.

[/quote]

EPT, that definitely sounds like the most competitive policy I've heard of.  What insurance company is it through?

[quote=FreedomLvr][quote=ExPropTrader][quote=FreedomLvr]

Guys, you're all talking about the prices and ignoring the coverage!  It's like saying, "I bought a computer for $300, you're a sucker for paying $1000".

If ExPropTrader is paying $804/year, I'm guessing his coverage is $1MM/claim with a $1MM or $2MM annual max.

My E&O is about $2050/year, with a $5MM/claim, $20MM annual max.  Deductible's vary based on the size of an individual claim, ranging from $20,000 down to $5,000.  I believe it's through AIG.

What kind of coverage are you guys getting for your money?

[/quote]

Good point, my coverage is $5MM/claim, $25MM annual, deductibles vary from $1000-$5000.

[/quote]

EPT, that definitely sounds like the most competitive policy I've heard of.  What insurance company is it through?

[/quote]

Mine is through AIG also.