Originally Posted By: rfarruggia
This post was automatically imported from our archived forum.
But won’t our friends at FREA miss that $5K a year that I send to them? I always just felt that it was part of my civic duty to help keep the San Diego economy afloat.
No seriously, E&O is mandated here. I personally think it is a good thing and would carry it regardless. But all of us are hampered but the limited options available to us. I think we are down to just 3 producers, all with terrible premiums and high ($2K) deductables. It would be a boon to have more options.
As much as I like to support this organization, for me to bail on FREA, I would need comparable coverage. $1M E&O, $1 G/L, both per occurance, termite and radon inclusions, Referral Indemnity, Corp coverage and a fidility bond. Of course the maker will need a A.M. Best rating bbb+ or better.
I have no idea what it will take to get it approved by NJ's department of banking & insurance, but I'm sure that will be an ordeal. Anyway, I'm all ears.