E&O Help: Auto Insurance

gadelhak807

New Member
7
Hello everyone,

I'm not a big poster on this forum, but I have read a lot and really appreciate all info on this board.

I currently hold a P&C license and want to open an insurance agency. My friend, an accountant, has agreed to let me use space in his office for this new project. I intend to sell only car insurance (for now). I've saved up a lot of money, and I know it will not be easy. But I am a dedicated person and will stop at nothing to succeed.

While shopping for E&O coverage...I am a bit confused. There are companies that will cover me, but have retentions of $10k. And there are other companies that have requirements of which I do not meet.

I guess I don't have a specific question, but rather, I am looking for advice/recommendations about the whole E&O thing before I jump into it. Honestly, any feedback at all would help me.

Best,
Tony
 
Go to insurancebee.com , they offered me. I was in your same situation, except I had my own office, no cpa there...just be honest and tell them you are just starting yet you think you shall sell "X" amount. I dunno what these 10K retentions are all about.
 
We have carriers that offer deductibles of $2500. I would be happy to obtain a quote for you to see how it compares with others that you have found.
 
Thanks for the help guys. I will check out insurancebee.com. I am operating in illinois. OCinsurance, do you have a website? Or where do I go to obtain a quote from you? Thanks again.
 
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