Real Estate Appraisers E&O Insurance

Brokers and Real Estate Appraisers can rest easy knowing their interests are being protected when they “Think McGowan.”

With coverages available for both residential and commercial real estate appraisers, as well as appraiser trainees who have passed the exam, McGowan Program Administrators Real Estate Appraisers Errors and Omissions insurance provides the protection you need.

Product Overview

Eligible Classes

  • Real Estate Appraisers
  • Residential Real Estate Appraisers
  • Commercial Real Estate Appraisers
  • Appraiser trainee eligible to purchase policy if passed exam

Product: Errors & Omissions Insurance

Limits: Up to $5MM

Carrier: “A” Rated Carrier / Admitted Paper

Territory: Nationwide except in Alaska, California, Hawaii, Louisiana and New York

Special Features & Coverages

  • Express “Self-Rate” applications
  • Incentive for early claims resolution
  • Coverage includes Residential and Commercial Appraisers
  • Prior Acts Coverage included with proof of continuous coverage
  • Reimbursement of Expenses for loss of earnings at attendance of a trial or hearing, at the Company’s request:
    • $500 each day
    • $7,500 each claim
    • $25,000 per policy period
  • Disciplinary action defense:
    • $2,500 each claim
    • $25,000 per policy period
  • Subpoena Assistance – $5,000 per subpoena
  • Discrimination Coverage –  $100,000 per claim
  • Unlimited retiree, disability or death, extended reporting period options

Partnering with McGowan

With our special ability to use its “Power of the Pen” to craft uniquely tailored insurance policies for real estate appraisers, brokers who partner with McGowan can ensure their clients have the right protections in place for when they need it most. The E&O policy has a limit of $1 million and has coverages available everywhere in the country except Alaska, California, Hawaii, Louisiana and New York.

Download: Real Estate Appraisers Marketing Flyer

Appraisal firms and individuals which do not qualify for the express application should use this application:

Download: Real Estate Appraisers E&O Insurance Standard Application

Download: Other Services Supplement

Individual Appraisers applying for coverage should use the following state specific express applications.

INDIVIDUAL APPRAISER EXPRESS APPLICATIONS BY STATE

Alabama Hawaii Michigan New Mexico Tennessee
Arkansas Iowa Minnesota Nevada Texas
Arizona Idaho Missouri New York Utah
California Illinois Mississippi Ohio Virginia
Colorado Indiana Montana Oklahoma Vermont
Connecticut Kansas North Carolina Oregon Washington
Washington DC Kentucky North Dakota Pennsylvania Wisconsin
Delaware Massachusetts New Hampshire Rhode Island West Virginia
Florida Maryland Nebraska South Carolina  Wyoming
Georgia Maine New Jersey South Dakota

 

To Obtain Quotes

Pricing indications are provided with the submission of our application. Quotes are subject to a thoroughly-completed application.

  1.  We need the expiring declarations page if the insured has current coverage.

To Bind Coverage

The following items are required in order to bind coverage:

  • A written request to bind.
  • A thoroughly-completed application.
  • A  thoroughly-completed other services supplemental.
  • Expiring declarations page (if insured has current coverage)
  • Five years of currently-valued, carrier generated loss runs (if claims activity is indicated on the application).  I do not need “hard copy”.

Contact:  Neil McGowan