An appraisal is an expert valuation of real estate property. Appraisers are experts trained to provide much more than a guess at a residential or commercial property’s worth. They assess value based on formal methodology and comply with standards and established codes of conduct. An appraisal can help you make an informed financial decision, as well as provide you with professionally prepared documentation if you need to validate your real estate property’s worth to a third party, such as for a loan, sale, Internal Revenue Service (IRS) review, etc..
These days, real estate appraisers should not have just an Errors & Omissions insurance policy; you should have a Commercial General Liability policy as well. Commercial General Liability covers areas that Errors & Omissions does not cover, and having them packaged into one policy gives you the best protection.
As a real estate appraiser, adjuster, or investigator, you could be caught in the middle of opposing factions in a real estate transaction, or faced with complying with a myriad of continually evolving rules governing how appraisals are done (Uniform Standards for Professional Appraiser, or USPAP). You need a Commercial General Liability and Errors & Omissions package policy that focuses specifically on your services.
AMIS/Alliance Marketing & Insurance Services has put together one of the broadest package policies for real estate appraisers handling residential and commercial property. We have fine-tuned our professional liability coverage to be responsive to the needs of today’s real estate appraisers.
Coverage (Occurrence)
- Commercial General Liability
- Liability Limits $1,000,000 each Occurrence and $2,000,000 General Aggregate
- Products/Completed Operations
- Personal Injury, Advertising Injury
- Fire Damage Legal Liability
- Employees As Additional Insured
- Independent Contractors-Other Insurance Amendment (A.I.)
- Contractual Broad Form Excluding Sole Negligence
- Errors and Omissions including Limited Financial Matters
- Care, Custody & Control Amendatory Endorsement with sub-limit of $100,000
- Property Damage Theft Extension (Excluding Employee Dishonesty) with Sub-Limit of $250,000 and Sub-Deductible of $1,000
- Premises Liability
- Medical Payments
- Lost Key Coverage with Sub-Limit of $2,500 and Sub-Deductible of $250
- Coverage for New Businesses and Established Businesses - Must have two years experience
- Coverage for any size, from One-Person Operation to National Account
Optional Coverage
- Non-Owned/Hired Auto Liability Coverage (Maximum Liability Limits $1,000,000 per Occurrence; Employees must carry $100,000 Liability Limits on Personal Auto)
- Primary Wording Endorsement
- Waiver of Subrogation Endorsement
- Excess to $2,000,000/$3,000,000; $3,000,000/$4,000,000; $4,000,000/$5,000,000; $5,000,000/$5,000,000
- Insuring company is rated A- VII (Excellent) by A.M. Best insurance rating organization.
The Proper Way to "Insure" Protection for Real Estate Appraisers is by completing the Real Estate Appraisers application and allowing AMIS to issue a quotation.
AMIS Application Information
To receive a quotation, please:
- complete the application on your computer
- print and sign it
- fax all materials to our office at:
(760) 471-9378 or (800) 573-8550 (Toll Free)
If you would just like a quick quote, you can fill out our online quick application form. Let us know your timeframe at the bottom of the form, and we will get right back to you.
| For your privacy protection, DO NOT EMAIL the full application form to us. Please FAX the full application. | Please do not use the Online Form if you DO NOT have an EMAIL address, use the full application form instead. |
If you have a problem viewing the PDF form, make sure you have the Adobe
Reader - Version 7.0 or later.
Additional requirements: Two years experience as a licensed appraiser, a copy of the declaration page of your expiring policy, a copy of your current license, and a copy of your resume.
NOTE: The application is not an insurance policy and does not bind any coverage. All applications must be underwritten and a quotation will be issued subject to underwriting guidelines. The quotation does not bind coverage.
AMIS Contact Information
QUESTIONS: |
Please call AMIS at (800) 843-8550 or 760-471-7116 and ask to speak with Bill West. |
