JJStephens Posted December 24, 2013 Report Share Posted December 24, 2013 I'm a one man shop with limited resources so I'm always looking for ways to save a few bucks. With something as important as E&O coverage I don't want to be 'penny wise and pound foolish.' But I would still like to find reasonably good coverage for the lowest premium possible. Anyone have any suggestions? Quote Link to comment Share on other sites More sharing options...
Lion EA Posted December 24, 2013 Report Share Posted December 24, 2013 Look at the group plans through your professional organizations. I moved to the NAEA plan as cheaper than my former E&O insurance. Quote Link to comment Share on other sites More sharing options...
ADGFINANCIAL Posted December 24, 2013 Report Share Posted December 24, 2013 I use EZ Insurance Solutions. Hatboro, Pa My agent is Affinity Insurance Services. 866-225-8464100,000 / 250,000Deductible 1,000Financial Planning CoverageAnnual Premium: $522.00I think that is a fair rate. Using them since 2005. No claims so can't say how they are if I had a problem. Been in business since 1985 and no real issues yet to deal with anyway. If you don't financial services or insurance think it's less cost. If you do write up it more expensive.August Quote Link to comment Share on other sites More sharing options...
BulldogTom Posted December 24, 2013 Report Share Posted December 24, 2013 I got mine through a broker called Dimirak Financial in San Diego. Got it a long time ago. The policy is from CNA Surety. Very reasonable price. Never had a claim, so I don't know if they are good or not at claim resolution. Tom Hollister, CA Quote Link to comment Share on other sites More sharing options...
Margaret CPA in OH Posted December 24, 2013 Report Share Posted December 24, 2013 My coverage is the same as that of August but through AICPA. The premium is $473 and have been with them for years. Every so often I get quotes from other companies but they are always, to date, higher than what I already have. Quote Link to comment Share on other sites More sharing options...
Lee B Posted December 24, 2013 Report Share Posted December 24, 2013 I have my coverage thru the same company ( subsidiary of CNA ) as August & Margaret. Never filed a claim, but the price is good. Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted December 24, 2013 Report Share Posted December 24, 2013 It would be useful if anyone has actually had to use their E&O coverage, to hear how it went, and what they needed from you to deal with the claim? Quote Link to comment Share on other sites More sharing options...
ADGFINANCIAL Posted December 25, 2013 Report Share Posted December 25, 2013 Not sure I would even have if it wasn't required by my insurance carriers to sell LTC.August Quote Link to comment Share on other sites More sharing options...
Lee B Posted December 26, 2013 Report Share Posted December 26, 2013 I didn't have earthquake insurance on my home until there was a moderate earthquake in my state about 15 years ago. Paying for E & O Insurance is kind like paying for Earthquake Insurance. Quote Link to comment Share on other sites More sharing options...
Mr. Pencil Posted December 26, 2013 Report Share Posted December 26, 2013 something as important as E&O coverage How important IS it? I don't give significant tax or investment advice, I'm pretty good with documentation, and I don't take aggressive positions anyway. So I consider my risk very low. 1 Quote Link to comment Share on other sites More sharing options...
Guest Taxed Posted December 26, 2013 Report Share Posted December 26, 2013 Just saw an e-mail flyer from CNA Surety. Premiums start at $200/yr. $250 deductible. $10,000 limit (I think). Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted December 27, 2013 Report Share Posted December 27, 2013 I'm not taking a position on the 'have' or 'don't have' argument. I never had it, but I don't think every practice is like mine, or every practitioner either. A small price for the peace of mind, if you want it. Quote Link to comment Share on other sites More sharing options...
mcb39 Posted December 27, 2013 Report Share Posted December 27, 2013 I have never had it either because I never felt the need. Started to consider it this year, but when going over the application papers; it almost seems like overkill. Have not made a decision as yet. Quote Link to comment Share on other sites More sharing options...
JJStephens Posted January 2, 2014 Author Report Share Posted January 2, 2014 I've never had it either. Thought about it a couple times and even filled out an application a couple times (most recently 4 years ago). Since then the premium went from $290/year to $500/year! Same policy, same company, same limits. As we used to say back in the hills, 'that don't make no sense.' Not sure why it's been on my mind lately. I've never come close to needing it. I might reconsider. Quote Link to comment Share on other sites More sharing options...
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