E and O Deductible Amount Question

[Insurance-Guy]

That would be you're a buffoon.

Athough Mark did not spell it out for you, he was talking about life and health insurance, not P&C. For the P&C broker, $5,000 is really the MINIMUM deductible they would find and the premium would be in the several thousand dollar range, not several hundred.

Clearly you do not know the proper use of the English language nor how to spell. Might not be your fault if you are new to this country or was not able to complete your GED. But perhaps you could enlighten us as to your experience in the insurance industry. You can use number of weeks if you prefer.

Rick

No Rick he OWNS his own agency! And has 20 or 30 companies that he is appointed with. Desertboy also won't take cash payments and has never even had a client want to pay with cash. He has also never done a quote and had another agent undercut him or get rolled. Oh and almost forgot his close ratio 70%!

My e and o deductible is $5k and premium is several thousand dollars because I have a real p and c agency actually two of them.

I am glad some other people are seeing through desertboys B. S.

 

[GreenSky]

I am glad some other people are seeing through desertboys B. S.

You'd have to be a bafoon (sic) to not see though that genius.

Rick

 

[Fisher]

Somebody's a real maroon in this thread.

I'm just sayin'...

 

[retread]

Somebody's a real maroon in this thread.

I'm just sayin'...

I think it is burgundy, myself. But that is just me.... my colors may be a little off.

Oh, maybe you meant marine.... but wait... there's more!


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What does the avg Company that requires E and O require you to have on your deductible?

Right now, I'm paying $495 with a $500 deductible but I've found other places that are now cheaper and also I can raise the Deductible and save tons of money.

Like $361 for $5,000 Deductible.
$446 for $1,000 Deductible.


Do you know how much each company requires you to have on a Deductible? I know most require you to have 1M coverage, but what about the Deductible.


IT does not seem like most of the insurance companies care about the amount of the Deductible but the amount of coverage.

I just spoke with Assurity and it is $10,000 max.

Mark, I have read some other agents' comments about E&O on the forum, and I am jumping in to make a few points here. I don't mean they are meant to apply to you, but for the sake of those who don't practice due diligence on their own policies....

1)My policy has a $1000 deductible for claims against the carrier sponsoring my coverage and which I must maintain appointment. For all other carrier claims, it is $2,500. The deductibles do not show on the certificate, but are in the policy and stressed in the product brochures. You actually have to read your policy to know what coverage you have.

2)There is NO deductible for defense costs... (first dollar coverage)

3)Coverage includes life, accident and health, disability income, universal life, annuities and section 125, employee benefit plans, variable products (which I don't sell), etc. If you sell more than just life or health, you should look at your policy to make sure it covers that product.

4)My annual premium is $435 plus a $25 admin fee.

 

[luke4275]

Green and Medicare solutions.. two of the nastiest posters on the forem ( sic) why don't you two lovlies ( sic? ) get a room.

 

[Josh]

Oh come on, is this because I was giving you a hard time about selling the leads you already worked? Can you really fault a guy for calling you out on that?

 

[Mark]

Okay this is the deal I was able to make

Max out of pocket:
$1000 is $446
$2500 is $401
$5000 is $361

For Life and Health.

I was paying $495 a year and now I'm only going to pay $361. I just saved $134 a year.

 

[arnguy]

Good work, Mark. Just make sure that light bulb in your head doesn't burn out. Is it one of those new CFL bulbs?

 

[Mark]

Good work, Mark. Just make sure that light bulb in your head doesn't burn out. Is it one of those new CFL bulbs?

Every little bit of money that I save, I can buy more praying mantis eggs. I'm up to about 80 eggs now. I hope to make about $6,000 next month.