3 ms·
So total we started off paying around $1,500-2,000/year. E&O is the most costly of course, but is rated also on your experience in the industry, any prior clai
by davismwfl 12y ago
So total we started off paying around $1,500-2,000/year. E&O is the most costly of course, but is rated also on your experience in the industry, any prior claims etc. Our E&O was around $750/year when we started which from asking others was pretty good price and gave us $1M in coverage. As you grow your insurance will go up, our general liability policy started around $250 and just went up every year based on revenue and number of employees etc. E&O is the same and as deals get larger you increase the limits and the cost goes up.
I'd say when starting out if you put around $2k-$3k as a budget it is reasonable, partially depending on where you are physically located and your industry experience.
Also, I have only ever used tier 1 companies for insurance, Hartford etc. That is just the way I was taught and we have never had an issue with them. Last time I used http://techinsurance.com http://techinsurance.com to get quotes etc, and we got great pricing from them.
EDIT: BTW I am in Florida to give context.