Error and Omission (ENO) insurance...Cost?

Question

How much should a business carry in ENO insurance for private investigations and security? whats a reasonable price for it? and best place to get ENO insurance?

Answer 1

It's E&O, not ENO.  You go to the agent that writes the rest of your business.  

How much it costs, for your type of risk, is going to depend on how many investigators/security people, and if they are armed or not, and where they operate, and what type of risk you're looking into or guarding.  And the territory of operations, of course.

I'd guess, for your type of risk, assuming at least four employees, it would START at $2500.  

Answer 2

I am agent who handles a lot of Errors & Omissions Insurance, most contracts you'd sign with 3rd parties would require $1million of insurance.

Our office handles some private security firms in the Phoenix area, so let me know if you need help finding insurance... we are licensed in all 50 states.

I wouldn't be surprised if the minimum is between $2,000-$3,000 a year.

Answer 3

for an individual agent, it is usually less than $50. not sure what you want to do with your business though.

Answer 4

State Farm does some ENO insurance.  I am sure other companies to do.   A million dollar liability policy would be good.  And maybe a commercial umbrella policy along with a business policy.