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Phill Cross
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Post subject: Bail Recovery Liability Insurance  Posted: Fri 20 Jun 2014 14:28 |
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Joined: Mon 19 Aug 2002 05:03
Posts: 1163
Location: Orange County, California, USA
FRN Agency ID #: 1
Experience: More than 10 years
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I was recently asked how many of the Bail Apprehension/Fugitive Recovery Companies have liability insurance.
I believe that is a good question. Therefore, I have created a poll.
I would really appreciate some insight and viewpoints on this.
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BigDave
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Post subject: Re: Bail Recovery Liability Insurance Posted: Sun 22 Jun 2014 12:48 |
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Joined: Fri 18 Apr 2008 10:00
Posts: 760
Location: New York State
FRN Agency ID #: 1973
Experience: 3 - 5 years
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I had insurance in my very active days when i had people working for me. When I started doing many cases by myself I dropped it because I knew I wouldn't jeopardize my name and company by doing illegal things or causing any liability issues on my end. Business now is really down so I don't have it now but should the need arise it's just a phone call and a few signatures away. I have Evolution that provides this coverage to me. Not sure of any other insurance companies that provide bail enforcement specifically.
What some don't know is that many insurances that companies get for their PI companies don't cover bail enforcement services. Many insurance companies will not even cover bail enforcement even as an add on to insurance you already have with them. I had two different insurance companies in the past. One for PI/security coverage and one just for bail enforcement.
Another reason some may not obtain coverage is because bail enforcement coverage is more expensive. Let's say for about $1M/$2M PI/security coverage limits it'll be between $1K to $2k depending on services, etc. I even paid less than 1K at one point for my PI business for a 1M/2M coverage limits. For bail enforcement it'll be around $3500 for coverage limits of $300k/$500k. Of course this is based on what I obtained in the past. Don't know exact numbers now.
_________________
If the world didn't suck we would all fall off. (Luvonda)
Nobody has power over you that you do not allow them to have. (Scott)
Be careful of the seeds you plant because one day they will be harvested.
Dave
Private Investigator
Licensed by the NYS DOS Division of Licensing
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Harbinger
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Post subject: Re: Bail Recovery Liability Insurance Posted: Mon 14 Jul 2014 11:42 |
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Joined: Fri 11 Jul 2014 12:45
Posts: 12
Location: San jose, central valley; Nor-cal
FRN Agency ID #: 0
Experience: < 1 year
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Don't some of the big corporations like bad boys and Aladdin have liability insurance for their recovery agents?
I've been asked about this before and being that i'm a rookie freelancer; I wouldn't be snore to afford it.
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Operating from California's Central Valley, all the way to Sacramento!
Contact at:
Phone: 408-661-8277
Email: k.irontarkus@gmail.com
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