E & O Insurance

[Janitor Bob]

Hey everybody! How much do you pay each year for E & O insurance and what is your limit per occurrence?

[Pacun]

Hey everybody! How much do you pay each year for E & O insurance and what is your limit per occurrence?

There should be a choice for those with no insurance.

[Janitor Bob]

There should be a choice for those with no insurance.

Added

[Pacun]

It is a combo, we need a choice below also. I selected "no insurance" and clicked "vote". I got an error message. I had to click less than 10K on the bottom portion.

I thought I lied on my second choice but it is the only correct answer I could have selected.

[Gail in Virginia]

I notice my insurance is on the high end price-wise, but I have two enrolled agents in the office, a part-time CPA, and two part-time clerical staff. I suspect that the number of employees also affects the price of the insurance.

[Lion EA]

Now via NAEA $186.73 for $500,000/$1,000,000 for just me preparing taxes plus one clerical employee, including three trailing years.

Back in 2008 I paid $298.00 via EZ Insurance Solutions for $100,000/$250,000 for just me plus clerical on a new policy, no trailing years. It continued to jump each year, can't lay my hands on the amounts as my returns are filed away in a closet) so you can see why I jumped to the new NAEA coverage when it was time to renew!

[Lion EA]

Didn't unpack my receipts, but did look at my old returns, one of which I'd listed details under Insurance. So, if 1st year was $298, 2nd was $410-463, 3rd was $516. You can see why I jumped ship to the new NAEA plan at only $186.73 for more coverage.

[Catherine]

I got E&O insurance ~2004 and paid about $200/yr for $10K/$20K coverage, which slowly crept up to about $230/yr.

This year, just to compare, I got a quote from the NAEA-deal folks and they said $500/yr for $100K/$250K coverage. My old company wanted $800+/yr for $100K/$200K coverage and their legal defense coverage wasn't as good either. It also covers claims going back to the original coverage date.

While I don't have tons of assets to protect, I have some, and it doesn't take much to run up disgustingly high legal bills.So I jumped ship to the new company (Placer via Travelers or Travelers via Placer - whatever).

[B. Jani]

I have $250,000/500,000 coverage from EZ solutions and price is $407. Price is usually going up little every year as it does cover me for prior act coverage which is important.

[joanmcq]

Mine is $675 for 500,000/1,000,000. Philadelphia Ins. Co. I think I pay too much for my lil practice (just me) and am way overinsured. I tried to lower it a bit last year, but they didn't do it.

I don't have a lot of income, but have a lot of stuff, and I hate the thought of a lawsuit. People are too litigious these days.

IMHO, anyone that doesn't have E&O is insane.