E&O for Less

[Guest]

So my E&O is coming up for renewal and I wanted to see if any of the forum members use E&O for less for P&C. I'm currently through lloyds for about $2300 / year and these guys offer it for like $800. My E&O broker told me that yeah its cheap but its a group plan that has the limitations of a capped group policy limit. Has anyone had any issues with them or would care to share some love?

 

[NCAgent]

How many years of experience so you have? Do you have an agency or are you just one agent? You are probably paying for more if you have 2+ agents while the e&o is probably just yourself for 800.

 

[Guest]

This will be year 2 of individual license experience and just ending year 1 of agency licensing. Either way I don't qualify for 3 years experience. Its just me as a solo (technically). Does this company take agencies under 3 years experience?

 

[NCAgent]

This will be year 2 of individual license experience and just ending year 1 of agency licensing. Either way I don't qualify for 3 years experience. Its just me as a solo (technically). Does this company take agencies under 3 years experience?

It with ask and if you don't then okay. Rock wood offers a good one as well. E&O carriers look at your original license date for experience, not time at one job.

Calsurance has some good ones as well. Also look at brown&brown with admiral insurance for non-admitted.

 

[Guest]

Thanks man but do you know anything specific, good or bad, about the company "e&o for less"?

 

[NCAgent]

I hear they are good and I looked at them personally. Just understand they are for individuals, not for agencies. That was the clenched for me. I spoke with a rep and they said it is for agents only.

Shared plans are common with ones like NAPA and e&o for less. I have yet to see it be an issue for agents but the risk is there

 

[Guest]

Yeah that was my main issue. I am a solo agent with an agency. Do you know if this is excluded if someone sues my agency?

 

[fusion]

Yeah that was my main issue. I am a solo agent with an agency. Do you know if this is excluded if someone sues my agency?

I spoke with a representative with them the other day. She mentioned that after the policy is issued they can go back and add a DBA to cover the agency provided you are the only employee of the agency.