INSURANCE FOR ERRORS & OMISSIONS
All CNAREA appraiser members, must carry errors & omissions insurance as mandated in the CNAREA Bylaws Article 6, Section 6-10.
1. If you are a DAR or a DAC you definitely need to be personally insured for Errors & Omissions.
2. If you are a DAR or a DAC and you operate through a company or corporation, you definitely need to have that company or corporation insured, as well as yourself.
3. If you are a Candidate Member and you work for a company or a corporation, or as an independent contractor, you definitely need to be personally insured for Errors & Omissions.
4. If you are a DAR or a DAC and you are an employee of a company, you definitely need to be personally insured for Errors & Omissions.
Member Errors & Omissions Liability Insurance Program Premiums
Designated Member DAR or DAC
|$ 1,000,000||$ 1,000||$ 1,157*|
|$ 2,000,000||$ 1,000||$ 1,505*|
|$ 3,000,000||$ 1,000||$ 1,969*|
|$ 5,000,000||$ 1,000||call for quote|
Candidate Member CM
|$ 1,000,000||$ 1,000||$ 346*|
|$ 2,000,000||$ 1,000||$ 427*|
*NOTE: These amounts do not include applicable taxes which vary by province.
Extended coverage for DAR or DAC members who already personally insured, with company or corporation revenues up to $150,000. per year, is included in the above rates. If the company or corporation revenues are over $150,000. per year, the insurance cost is by quote only.
Insurance Provider : Prolink