Minimum E+O Boundary Survey

I have the usual minimum $1 million coverage, but with a $5,000 "deductable".

Thanks Dave.....property value is high where you are?

we have the 1 mil/2 mil coverage. And yes, property values are high around here. If I were you I'd just think of the worst possible error you could make, and in sure accordingly. Make sure you double or even triple that estimate! Worst case is probably even worse than you can imagine.

Be sure you work with a good agent who knows E&O very well.

Be sure you get what is called "first dollar defense".

That means if someone sues you the insurance will pick up the attorneys fees with no deductible. These days you don't have to have done anything wrong to be sued and it can ruin you even if you are innocent.

Larry P

In my case getting less than $1M/$2M coverage barely reduced the premium. When I agreed to stop staking underground utilities, my premiums were cut in half.

Hopefully you will start a LLC.

If you are married, the deed to your house should be a "Tenancy by the Entirety”

The amount of insurance you need depends on how much you think you can get sued for and the deductible is what you can afford to lose without going out of business.

and what Larry said - Get First Dollar defense.

Thanks for your input, that helps!

Have started a llc.....married.....why the change to the deed?

That kind of deed protects your house against any suit that may exceed the maximum coverage you may have. You need to google it and check it out - it's another line of defense if "everything should go wrong" type of situation. You, as a surveyor, are liable for whatever they feel like, not just up to the limits of you insurance - if they take everything you have, they cannot touch your house. It's cheap insurance !

Thanks for taking the time to explain,makes sense....will do