BOPs have three main coverages:
Commercial Property Insurance: Commercial property insurance covers the physical loss or damage to your work building, equipment, furniture and fixtures. It also covers the loss of your business records, accounts receivable and more (claim examples).
Commercial General Liability (CGL) Insurance: CGL insurance protects against legal liability claims made by third parties who claim you have caused them financial or physical damage in the course of your general business services, not from services specific to your profession (claim examples).
Business Income Insurance: Business income insurance replaces your loss of income due to covered interruptions to your business due to certain events including but not limited to: theft, vandalism, fire, wind and lightning (claim examples).
For more information, please contact:
Dana Damico at 800-334-0652800-334-0652 or [email protected]
Claim Examples
Commercial Property Insurance
An appraiser is performing an onsite inspection for an appraisal assignment. When they return to their car they noticed a window has been broken and discover their business laptop has been stolen.
General Liability Insurance
An appraiser allegedly leaves a stove on during an inspection for an FHA assignment. The kitchen burns down causing extensive damage to the house. The homeowner's fire insurer pays to repair the damage but then seeks recovery from the appraiser.
Business Income Insurance
Someone breaks into your home and steals your laptop and tablets you use for your appraisals. It takes you two weeks to buy new equipment, download your software and possibly reconstruct appraisals while trying to still serve your clients. You end up losing over a week’s worth of income. Can insurance help? It can if you have a Business Owners Policy (BOP).
For more information, please contact:
Dana Damico at 800-334-0652800-334-0652 or [email protected]
Working for you every day
Errors & Omissions Insurance is highly-specialized coverage, which is why it's so important to work with a program administrator who has experience & knowledge in this specific area. Our underwriting & sales staff have over 125 years combined experience with LIA, working exclusively with appraisers' E&O insurance.
Since 1978, more than 25 insurance companies have entered & left the appraisal E&O market. With over three decades and counting in the E&O industry, LIA has a proven track record with the appraisal community. We provide stable programs that our clients have counted on year after year - which is reassuring when you consider the current volatility in the real estate & financial markets. In the event of a claim, our national claims counsel will fight vigorously on your behalf. We are known throughout the industry as the recognized leader when it comes to effectively defending real estate appraisers.
There are reasons for our well earned reputation.
If you are looking for professional liability coverage for your appraisal business, we invite you to apply now and discover why we are the strongest name in quality Errors and Omissions Insurance.
For 20 years I have not liked paying for E&O Insurance, because I never used it. Now, it has all paid off in the form of your opinion which will keep me out of trouble for the next 20 years. I will continue to recommend LIA as the only provider for professional appraisal E&O Insurance.
How very pleasant to deal with someone who is so efficient, quick, and polite, in an era where those elements are often missing in any business transaction.
Appraiser West Lafayette, IN
Thank you very much for your help. It has been a pleasure working with your company, compared to the other E&O carriers I have had in the past.
Thank You Very Much, this is the kind of response and extra effort that makes your company such a standout!! Thanks Again.
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For more information, please contact:
Dana Damico at 800-334-0652800-334-0652 or [email protected]