Who do you have your E&O through and are you happy with it?
I am with RLI with a policy written by Aurora Risk Managers as part of a KAPS (Kentucky Association of Professional Surveyors) "promotion". I'm starting to think its not such a deal as my premiums keep going up and up despite having never had a claim in my entire 20 year career.
As I understand it, premiums are based on gross receipts, types of work, use of contracts, etc, so it will be difficult to get an apples to apples comparison, but I'm currently paying an annual premium of about 1.5% of my gross.
Thanks
CB
Having been in the insurance business I would say shopping around for quotes from independent agents is never a bad idea. Then you can compare quotes against your current coverage and try to evaluate whether it is apples to apples and overall cost.
My .02 cents.
If is not just, "premiums are based on gross receipts, types of work, use of contracts, etc," It is where you practice. For example I practice in New York, 100 miles east of New York City In the "Hampton's". How many 12,000 square foot summer homes have you done from permitting, to stakeout of +/- 350 piles for house, deck, pool and pool house ($55 per pile), and location and final survey for CO. My E&O annual premium are about 2.1% of my gross with no claims and all the good points. It is still down the road in five figures.
What I am saying you need to compare quotes in your area for what you do, not ask the general question of what is everyone else paying.