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OREP specializes in placing errors and omissions insurance for real estate appraisers, home inspectors, real estate agents and brokers, mortgage field service professionals, mortgage brokers, title and others. OREP offers the lowest rates on appraiser's insurance with same day coverage & confirmation (most cases). For instant E&O quotes for appraisers click here.
An Alternative
Approach to Home Insurance
When you
work in the industry, and your professional life involves dealing with other
folk’s homes, it can be easy to forget to take care of business back home.
Just as it is important to have professional liability insurance for your
working life, we all go out and earn to provide for our home life, and
protecting the home and its contents with the right insurance cover is just
as important. You may well think that this is preaching to the converted,
but the cost of home insurance can vary wildly depending on who provides
your cover; here are a few points to consider.
The
first thing to ponder may well be whether you need a home insurance premium
at all. At this point, we should perhaps distinguish between buildings and
contents insurance. Buildings insurance is pretty much always a good idea,
given the fact that it covers the dread scenario of the loss of your home
through disaster. Contents insurance, on the other hand, is a far less
certain necessity – your personal circumstances, and the type and value of
the belongings that you own being crucial in this consideration. You should
perhaps ask yourself the question: what would it take to replace all my
belongings in the event of a fire?
One
option can be to put aside perhaps a few hundred dollars a month in a
special savings account, instead of paying a monthly premium to an insurer.
The benefit of this is that hopefully, you will not be unlucky enough to
need to replace your possessions, and instead of simply paying out money to
the insurer, you will be building up a useful lump sum as the years go by.
However,
this strategy will of course require your luck to hold out for quite a few
years before the savings amount to enough to cover potential losses, and is
therefore a pretty risky plan. This strategy can be adapted to reduce the
risk by taking out a home insurance policy with a high voluntary excess in
conjunction with your regular saving plan. Home insurance policies with a
high voluntary excess from providers like Legal & General can be picked up
fairly inexpensively, and this way you need only have enough savings to
cover the excess to ensure that you have the peace of mind to know that your
home is protected while you are busy out working for a living. Visit the
Legal & General website for quotes on
home insurance.
Addressing your company debt
during the recession
www.legalandgeneral.com/insurance/home-insurance/
Member Benefits
• Working RE Magazine FREE subscription
• Purchase AMC Directory
• Appraisals & Identity Security Solution
• Bank Appraisers Needed
• Group Medical Insurance (California residents)
• Appraiser's Guide to Energy Auditing/Rating
• Introduction to Energy Auditing Webinar
•
FHA Appraiser Inspection Course, Checklist and eManual
• Lower Prices from your Favorite Suppliers
• Benefits Page
Receive fast, personal service from the OREP staff who have been serving appraisers, inspectors and other real estate professionals for over 16 years.
(David Brauner: Calif. Insurance License 0C89873)
Click Errors and Omissions Programs at right for more information and applications or call us Toll Free: (888) 347-5273. We’re here to help!
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