Anonymous

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Rainmaker
3,507,377
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Good luck as you start your new journey. 

Dec 20, 2019 02:13 PM
Rainmaker
1,692,217
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

I simply went to my insurance agent, the same one I buy my home, auto, and business insurance from.

Dec 20, 2019 01:32 PM
Rainmaker
778,907
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

I have had an insurance broker for 15 years . . . they always give me 2 or 3 alternatives among the ones they have researched . . . 

I have had a few different ones but in recent years, General Star, Navigators,  and I've had Great American for the past 6 years straight . . . so they keep providing the best coverage for the best terms, at least for me.

Dec 20, 2019 12:42 PM
Ambassador
3,550,866
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Sure! Landy - they're affordable and wonderful to work with.

Dec 20, 2019 08:23 PM
Rainmaker
493,038
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

We have been with the same company since 1995 ... I'm sure there are many to pick from and we have no complaints.  Good luck in your studies.

Dec 20, 2019 05:24 PM
Rainmaker
1,203,155
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Our E&O is with AON Insurance for many years. 

Dec 20, 2019 04:53 PM
Rainmaker
3,315,315
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

I'e never purchased E&O insurance on my own in 26 years, so really can't be of much help here.

Dec 20, 2019 01:01 PM
Rainmaker
557,422
Eve Alexander
Buyers Broker of Florida - Orlando, FL
Exclusively Representing ONLY Orlando Home Buyers

Many brokers go with whomever is the cheapest.

I recommend going with someone reputable, that has been in business for years.

I consider E&O comparable to car insurance.  Good insurance companies pay up, the cheap ones give excuses...

Since you have no track record, you might be better off paying on each transaction, instead on an annual fee.  That way, if you a planning on having agents, they can pay you the fee for each closing.

Eve

 

Dec 20, 2019 12:55 PM
Rainmaker
1,280,257
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

CRES is a pay as you go program.

Dec 20, 2019 08:39 PM
Rainmaker
2,915,075
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Many great responses. Happy Holidays & New Year to you too.

Dec 20, 2019 04:02 PM
Ambassador
2,917,228
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I have a broker and my client speacialist is great.  I've used them for 30  years, rates very reasonable.

 

Autumn Sturgis

Client Services Specialist

RESSI

1511 Kastner Place | Sanford, FL 32771 | Phone: 800-405-5005 x212 | Fax: 888-909-3231 | Email: asturgis@ressi.com |Website: www.ressi.com

 

Professional Liability (E&O) | Business Owners Policy (BOP) | General Liability (GL) | Cyber Liability

Dec 20, 2019 03:46 PM
Ambassador
4,125,759
Jeff Dowler, CRS
eXp Realty of California - Carlsbad, CA
The Southern California Relocation Dude

Sorry I can't help but looks like you have some answers. Good luck!

Dec 20, 2019 03:03 PM
Rainer
3,395
Pamela Shea
Andrew Mitchell & Company - Natick, MA
Pam Shea, Broker. MA&NJ. CRS.ABR.GRI.ePRO.SRES.TRC

Thank you Eve. Very helpful information. I truly appreciate it. I was not aware I had that option, of paying per transaction. I just earned a Master's in Public Admin/non-profit management. I hope to move into the non-profit sector as real estate has become a part-ime hobby for most agents, here in Greater Boston. Pam  

Dec 20, 2019 02:15 PM
Rainmaker
4,677,785
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Check with the local brokers, they may have a wonderful recommendation

Dec 20, 2019 12:44 PM
Rainmaker
1,415,264
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

You local Association may be able to give you a list of options.

Dec 21, 2019 06:47 AM
Rainmaker
1,229,616
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Good luck in your new venture. 

First step: Come out of the shadows. 

Dec 21, 2019 06:34 AM
Rainmaker
3,099,498
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

The cost is pretty close from company to company. I use an independant insurance agent who shops it for me. it is better than going to the big companies, 

Dec 21, 2019 05:30 AM
Rainmaker
957,875
Thomas J. Nelson, Realtor e-Pro, CRS, RCS-D, Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

I can't help the blue faces.

Anonymous

Dec 20, 2019 08:43 PM
Rainmaker
737,605
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Check with local RE brokers for suggestions.

Suggestions of a specific insurance source from this nation-wide forum may not be applicable to you.

Dec 20, 2019 03:41 PM
Rainmaker
5,218,140
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

I'm sure you'll  have some great direction here....

Dec 20, 2019 01:51 PM
Rainmaker
821,012
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Wishing you good fortune in your new venture. I would suggest you speak with your insurance agent and/or your local Realtor® Association.

Dec 21, 2019 12:41 PM
Rainmaker
1,572,507
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Just shop it. Be aware that if you elect to shut own your operation in the future, you will need to continue with your E & O to protect yourself from future claims. This is an added expense few are aware of.

Dec 21, 2019 07:33 AM
Rainmaker
472,986
Tom Bailey
Margaret Rudd & Associates Inc. - Oak Island, NC

Find a good commercial insurance agent?

Dec 21, 2019 05:56 AM
Rainmaker
3,441,024
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Too many variables for a suggestion. Check with an insurance brokerand read the policies. They all have there glitches.

Dec 20, 2019 01:03 PM
Rainmaker
5,618,074
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

First, purchase a franchise such as RE/MAX for your new office.

Dec 20, 2019 12:38 PM
Rainmaker
1,273,159
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

Will read answers 

Dec 22, 2019 07:16 PM
Rainmaker
2,850,505
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

Not all E&O companies sell in all states. I am with CRES.  I do not know if they sell in your area.  Give Joe Halsey a call. (858) 432-7306  

Dec 21, 2019 09:31 AM
Ambassador
1,689,779
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

NAR has a list.

Dec 21, 2019 07:24 AM
Rainer
503,619
Rose Mary Justice
Synergy Realty Pros - Dandridge, TN
Synergy Realty Pros

You will have to see who provides E&O in your state. Then choose the best one for your new company.

Dec 21, 2019 06:48 AM
Rainmaker
1,029,943
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

No answer for you Anon however I do have an interest in what other's have to say.

Dec 21, 2019 12:27 AM
Ambassador
4,489,173
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

KW gets me a great rate of 15/month.

Dec 20, 2019 08:57 PM
Rainmaker
1,717,185
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.org 305-931-6931

Did you find a right one?

Dec 26, 2019 06:23 PM
Rainmaker
4,231,706
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I would think this varies by State.  I get one that State of Colorado offers.

Dec 24, 2019 02:59 PM