Know anything about E&O insurance?

Date 02-04-2014 21:08

I've been a CWI for a while now and have worked full time at a company for 7+ years now. I've been thinking about doing some certifying/training on the side for some extra income. Is it a good idea/necessary to have E&O (Errors and Omissions) insurance? Who do you go through and what are the rates for it? Is there anything to look out for when shopping for it?

Any advice/opinions would be greatly appreciated. Thank you.

By welderbrent (*****)

Date 02-05-2014 02:30

Andy,

WELCOME TO THE AWS WELDING FORUM!!

That could be a rather loaded question.

Technically, yes, you should have E&O Insurance. But, define "some". For just a couple certifications per month I wouldn't worry too much about it.

But, are you going to do other inspections? That is where you will really open yourself up to needing the protection. Though you do have a certain level of responsibility that should not be taken lightly even in just doing 'some' certifications.

The rates I got ranged from just over $5000/yr to over $11,000/yr. And, I have heard of guys who say they only pay about $1200-1500/yr.

Most agencies that will carry business insurance can also link you up with E&O.

Have a Great Day, Brent

By Lewis87 (*)

Date 02-05-2014 06:43

starting out, I would say just a few. Thanks for the input.