﻿{"id":55372,"date":"2022-02-15T21:49:58","date_gmt":"2022-02-15T21:49:58","guid":{"rendered":"https:\/\/appraisers.norman-spencer.com\/?page_id=55372"},"modified":"2024-10-10T16:24:33","modified_gmt":"2024-10-10T16:24:33","slug":"faqs","status":"publish","type":"page","link":"https:\/\/appraisers.norman-spencer.com\/?page_id=55372","title":{"rendered":"FAQs"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; admin_label=&#8221;FAQ&#8221; _builder_version=&#8221;4.24.2&#8243; background_color=&#8221;#5689c7&#8243; custom_padding=&#8221;18px|0px|54px|0px|false|false&#8221; hover_enabled=&#8221;0&#8243; global_colors_info=&#8221;{}&#8221; sticky_enabled=&#8221;0&#8243;][et_pb_row _builder_version=&#8221;4.16&#8243; module_alignment=&#8221;center&#8221; custom_padding=&#8221;4px||70px|||&#8221; global_colors_info=&#8221;{}&#8221; custom_margin=&#8221;51px|auto||auto||&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_text _builder_version=&#8221;4.24.2&#8243; header_font=&#8221;||||||||&#8221; header_2_font=&#8221;Raleway|800|||||||&#8221; header_2_text_color=&#8221;#FFFFFF&#8221; header_2_font_size=&#8221;42px&#8221; custom_margin=&#8221;||-26px|||&#8221; animation_direction=&#8221;bottom&#8221; hover_enabled=&#8221;0&#8243; global_colors_info=&#8221;{}&#8221; sticky_enabled=&#8221;0&#8243; custom_padding=&#8221;||0px|||&#8221;]<\/p>\n<h2 style=\"text-align: center;\">Frequently Asked Questions<\/h2>\n<p>x<\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=&#8221;1_2,1_2&#8243; use_custom_gutter=&#8221;on&#8221; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;0px|||||&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;1_2&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_toggle title=&#8221;How do I apply for coverage?&#8221; open=&#8221;on&#8221; open_toggle_text_color=&#8221;#000000&#8243; open_toggle_background_color=&#8221;#ffffff&#8221; closed_toggle_text_color=&#8221;#000000&#8243; closed_toggle_background_color=&#8221;#ffffff&#8221; _builder_version=&#8221;4.24.2&#8243; title_level=&#8221;h4&#8243; title_font=&#8221;Montserrat|500|||||||&#8221; title_line_height=&#8221;1.4em&#8221; body_font_size=&#8221;16px&#8221; body_line_height=&#8221;2em&#8221; body_link_text_color=&#8221;#0C71C3&#8243; custom_padding=&#8221;30px|40px|30px|40px|true|true&#8221; animation_style=&#8221;fade&#8221; hover_enabled=&#8221;0&#8243; border_radii=&#8221;on|10px|10px|10px|10px&#8221; border_width_all=&#8221;0px&#8221; box_shadow_style=&#8221;preset1&#8243; box_shadow_blur=&#8221;30px&#8221; box_shadow_color=&#8221;rgba(0,0,0,0.06)&#8221; global_colors_info=&#8221;{}&#8221; sticky_enabled=&#8221;0&#8243;]<\/p>\n<div class=\"ui-accordion-content ui-corner-bottom ui-helper-reset ui-widget-content ui-accordion-content-active\" id=\"ui-id-2\" aria-labelledby=\"ui-id-1\" role=\"tabpanel\" aria-hidden=\"false\">\n<p>You can <a href=\"https:\/\/form.typeform.com\/to\/TjoVxn?typeform-source=appraisers.norman-spencer.com\" target=\"_blank\" rel=\"noopener\">apply online<\/a> or reach out for a ballpark quote or an application: <span style=\"color: #0c71c3;\">(717) 721-3500<br \/><\/span><a href=\"mailto:intercorpappraisers@norman-spencer.com\">intercorpappraisers@norman-spencer.com<\/a><br \/>Office hours: 8:30 am \u2013 4:30 pm EST<\/p>\n<\/div>\n<p>[\/et_pb_toggle][et_pb_toggle title=&#8221;What limits of liability should be purchased?&#8221; open_toggle_text_color=&#8221;#000000&#8243; open_toggle_background_color=&#8221;#ffffff&#8221; closed_toggle_text_color=&#8221;#000000&#8243; closed_toggle_background_color=&#8221;#ffffff&#8221; _builder_version=&#8221;4.24.2&#8243; title_level=&#8221;h4&#8243; title_font=&#8221;Montserrat|500|||||||&#8221; title_line_height=&#8221;1.4em&#8221; body_font_size=&#8221;16px&#8221; body_line_height=&#8221;2em&#8221; custom_padding=&#8221;30px|40px|30px|40px|true|true&#8221; animation_style=&#8221;fade&#8221; border_radii=&#8221;on|10px|10px|10px|10px&#8221; border_width_all=&#8221;0px&#8221; box_shadow_style=&#8221;preset1&#8243; box_shadow_blur=&#8221;30px&#8221; box_shadow_color=&#8221;rgba(0,0,0,0.06)&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<div class=\"ui-accordion-content ui-corner-bottom ui-helper-reset ui-widget-content ui-accordion-content-active\" id=\"ui-id-4\" aria-labelledby=\"ui-id-3\" role=\"tabpanel\" aria-hidden=\"false\">\n<p>We recommend that you check with your clients to determine whether they require a specific limit of liability.<\/p>\n<\/div>\n<p>[\/et_pb_toggle][et_pb_toggle title=&#8221;What payment options are available for Errors &#038; Omissions insurance?&#8221; open_toggle_text_color=&#8221;#000000&#8243; open_toggle_background_color=&#8221;#ffffff&#8221; closed_toggle_text_color=&#8221;#000000&#8243; closed_toggle_background_color=&#8221;#ffffff&#8221; _builder_version=&#8221;4.16&#8243; title_level=&#8221;h4&#8243; title_font=&#8221;Montserrat|500|||||||&#8221; title_line_height=&#8221;1.4em&#8221; body_font_size=&#8221;16px&#8221; body_line_height=&#8221;2em&#8221; custom_padding=&#8221;30px|40px|30px|40px|true|true&#8221; animation_style=&#8221;fade&#8221; border_radii=&#8221;on|10px|10px|10px|10px&#8221; border_width_all=&#8221;0px&#8221; box_shadow_style=&#8221;preset1&#8243; box_shadow_blur=&#8221;30px&#8221; box_shadow_color=&#8221;rgba(0,0,0,0.06)&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p><span><strong>Option 1:<\/strong> Full pay to bind coverage<\/span><br \/><span><strong>Option 2:<\/strong> Financing available upon request\u00a0<\/span><\/p>\n<p>[\/et_pb_toggle][et_pb_toggle title=&#8221;Does the policy offer prior acts coverage?&#8221; open_toggle_text_color=&#8221;#000000&#8243; open_toggle_background_color=&#8221;#ffffff&#8221; closed_toggle_text_color=&#8221;#000000&#8243; closed_toggle_background_color=&#8221;#ffffff&#8221; _builder_version=&#8221;4.16&#8243; title_level=&#8221;h4&#8243; title_font=&#8221;Montserrat|500|||||||&#8221; title_line_height=&#8221;1.4em&#8221; body_font_size=&#8221;16px&#8221; body_line_height=&#8221;2em&#8221; custom_padding=&#8221;30px|40px|30px|40px|true|true&#8221; animation_style=&#8221;fade&#8221; border_radii=&#8221;on|10px|10px|10px|10px&#8221; border_width_all=&#8221;0px&#8221; box_shadow_style=&#8221;preset1&#8243; box_shadow_blur=&#8221;30px&#8221; box_shadow_color=&#8221;rgba(0,0,0,0.06)&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<div class=\"ui-accordion-content ui-corner-bottom ui-helper-reset ui-widget-content ui-accordion-content-active\" id=\"ui-id-12\" aria-labelledby=\"ui-id-11\" role=\"tabpanel\" aria-hidden=\"false\">\n<p>Prior acts coverage is available in most cases if you can provide proof of uninterrupted coverage. You will need to submit a copy of your current\/expiring Errors &amp; Omissions Insurance policy declarations page.<\/p>\n<\/div>\n<p>[\/et_pb_toggle][et_pb_toggle title=&#8221;What is a claims-made policy?&#8221; open_toggle_text_color=&#8221;#000000&#8243; open_toggle_background_color=&#8221;#ffffff&#8221; closed_toggle_text_color=&#8221;#000000&#8243; closed_toggle_background_color=&#8221;#ffffff&#8221; _builder_version=&#8221;4.16&#8243; title_level=&#8221;h4&#8243; title_font=&#8221;Montserrat|500|||||||&#8221; title_line_height=&#8221;1.4em&#8221; body_font_size=&#8221;16px&#8221; body_line_height=&#8221;2em&#8221; custom_padding=&#8221;30px|40px|30px|40px|true|true&#8221; animation_style=&#8221;fade&#8221; border_radii=&#8221;on|10px|10px|10px|10px&#8221; border_width_all=&#8221;0px&#8221; box_shadow_style=&#8221;preset1&#8243; box_shadow_blur=&#8221;30px&#8221; box_shadow_color=&#8221;rgba(0,0,0,0.06)&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<div class=\"ui-accordion-content ui-corner-bottom ui-helper-reset ui-widget-content ui-accordion-content-active\" id=\"ui-id-16\" aria-labelledby=\"ui-id-15\" role=\"tabpanel\" aria-hidden=\"false\">\n<p>A claims-made policy defines how a policy responds to a claim. In order for coverage to apply, you must have coverage in force at the time the appraisal is performed AND at the time the claim is made, with no lapse in coverage.<\/p>\n<\/div>\n<p>[\/et_pb_toggle][et_pb_toggle title=&#8221;What makes you different from other E&#038;O providers?&#8221; open_toggle_text_color=&#8221;#000000&#8243; open_toggle_background_color=&#8221;#ffffff&#8221; closed_toggle_text_color=&#8221;#000000&#8243; closed_toggle_background_color=&#8221;#ffffff&#8221; _builder_version=&#8221;4.16&#8243; title_level=&#8221;h4&#8243; title_font=&#8221;Montserrat|500|||||||&#8221; title_line_height=&#8221;1.4em&#8221; body_font_size=&#8221;16px&#8221; body_line_height=&#8221;2em&#8221; custom_padding=&#8221;30px|40px|30px|40px|true|true&#8221; animation_style=&#8221;fade&#8221; border_radii=&#8221;on|10px|10px|10px|10px&#8221; border_width_all=&#8221;0px&#8221; box_shadow_style=&#8221;preset1&#8243; box_shadow_blur=&#8221;30px&#8221; box_shadow_color=&#8221;rgba(0,0,0,0.06)&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<div class=\"ui-accordion-content ui-corner-bottom ui-helper-reset ui-widget-content ui-accordion-content-active\" id=\"ui-id-16\" aria-labelledby=\"ui-id-15\" role=\"tabpanel\" aria-hidden=\"false\">\n<p><span><strong>Several things:<\/strong> First, our staff is knowledgeable, experienced, and responsive. Second, we stay on the cutting edge of the profession, and provide extra coverages that you won\u2019t find anywhere else. And finally, we are a stable market for appraisers. This program has been operating for more than 30 years. Claims handling is top-notch because of this continuity and experience. \u00a0<\/span><\/p>\n<\/div>\n<p>[\/et_pb_toggle][et_pb_toggle title=&#8221;What are the advantages of choosing Intercorp\u2019s program for Appraisal Management Companies?&#8221; open_toggle_text_color=&#8221;#000000&#8243; open_toggle_background_color=&#8221;#ffffff&#8221; closed_toggle_text_color=&#8221;#000000&#8243; closed_toggle_background_color=&#8221;#ffffff&#8221; _builder_version=&#8221;4.16&#8243; title_level=&#8221;h4&#8243; title_font=&#8221;Montserrat|500|||||||&#8221; title_line_height=&#8221;1.4em&#8221; body_font_size=&#8221;16px&#8221; body_line_height=&#8221;2em&#8221; custom_padding=&#8221;30px|40px|30px|40px|true|true&#8221; animation_style=&#8221;fade&#8221; border_radii=&#8221;on|10px|10px|10px|10px&#8221; border_width_all=&#8221;0px&#8221; box_shadow_style=&#8221;preset1&#8243; box_shadow_blur=&#8221;30px&#8221; box_shadow_color=&#8221;rgba(0,0,0,0.06)&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<div class=\"ui-accordion-content ui-corner-bottom ui-helper-reset ui-widget-content ui-accordion-content-active\" id=\"ui-id-16\" aria-labelledby=\"ui-id-15\" role=\"tabpanel\" aria-hidden=\"false\">\n<section class=\"col-sm-9\">\n<div class=\"region region-content\">\n<section id=\"block-system-main\" class=\"block block-system clearfix\">\n<article id=\"node-37\" class=\"node node-insurance-program node-promoted clearfix\">\n<div class=\"field field-name-body field-type-text-with-summary field-label-hidden\">\n<div class=\"field-items\">\n<div class=\"field-item even\">\n<p>We have a long history of serving the appraisal industry, from its infancy in the licensing\/certification arena, through the dark times of the real estate crash in the 2007-2009 period. We maintained stability during the bad times as well as the good ones. That strength and stability was a driving force in developing this program for AMCs when they emerged as a new participant in the appraisal process. Add in our exceptional service, and you have an unbeatable combination.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/section>\n<\/div>\n<\/section>\n<aside class=\"col-sm-3\" role=\"complementary\">\n<div class=\"region region-sidebar-second\">\n<section id=\"block-views-node-title-background-block-3\" class=\"block block-views clearfix\">\n<div class=\"view view-node-title-background view-id-node_title_background view-display-id-block_3 view-dom-id-2d2919dab2276f7b0753f1ebc1ae2093\">\n<div class=\"view-content\">\n<div class=\"views-row views-row-1 views-row-odd views-row-first views-row-last\">\n<div class=\"field-collection-container clearfix\">\n<div class=\"field field-name-field-sidebar-ctas2 field-type-field-collection field-label-hidden\">\n<div class=\"field-items\">\n<div class=\"field-item even\">\n<div class=\"field-collection-view clearfix view-mode-full\">\n<div class=\"field field-name-field-sidebar-cta-heading field-type-text field-label-hidden\">\n<div class=\"field-items\">\n<div class=\"field-item even\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<\/aside>\n<\/div>\n<p>[\/et_pb_toggle][\/et_pb_column][et_pb_column type=&#8221;1_2&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_toggle title=&#8221;How long does it take to get a quote and bind coverage?&#8221; open_toggle_text_color=&#8221;#000000&#8243; open_toggle_background_color=&#8221;#ffffff&#8221; closed_toggle_text_color=&#8221;#000000&#8243; closed_toggle_background_color=&#8221;#ffffff&#8221; _builder_version=&#8221;4.24.2&#8243; title_level=&#8221;h4&#8243; title_font=&#8221;Montserrat|500|||||||&#8221; title_line_height=&#8221;1.4em&#8221; body_font_size=&#8221;16px&#8221; body_line_height=&#8221;2em&#8221; custom_padding=&#8221;30px|40px|30px|40px|true|true&#8221; animation_style=&#8221;fade&#8221; border_radii=&#8221;on|10px|10px|10px|10px&#8221; border_width_all=&#8221;0px&#8221; box_shadow_style=&#8221;preset1&#8243; box_shadow_blur=&#8221;30px&#8221; box_shadow_color=&#8221;rgba(0,0,0,0.06)&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<div class=\"ui-accordion-content ui-corner-bottom ui-helper-reset ui-widget-content ui-accordion-content-active\" id=\"ui-id-6\" aria-labelledby=\"ui-id-5\" role=\"tabpanel\" aria-hidden=\"false\">\n<p>In most cases, we are able to quote and bind coverage within 24 hours of receiving a completed application, signed acceptance of the quotation and premium payment, along with outstanding items specified in the \u201cConditions\u201d section of the quotation.<\/p>\n<\/div>\n<p>[\/et_pb_toggle][et_pb_toggle title=&#8221;Does the policy cover all types of appraising?&#8221; open_toggle_text_color=&#8221;#000000&#8243; open_toggle_background_color=&#8221;#ffffff&#8221; closed_toggle_text_color=&#8221;#000000&#8243; closed_toggle_background_color=&#8221;#ffffff&#8221; _builder_version=&#8221;4.16&#8243; title_level=&#8221;h4&#8243; title_font=&#8221;Montserrat|500|||||||&#8221; title_line_height=&#8221;1.4em&#8221; body_font_size=&#8221;16px&#8221; body_line_height=&#8221;2em&#8221; custom_padding=&#8221;30px|40px|30px|40px|true|true&#8221; animation_style=&#8221;fade&#8221; border_radii=&#8221;on|10px|10px|10px|10px&#8221; border_width_all=&#8221;0px&#8221; box_shadow_style=&#8221;preset1&#8243; box_shadow_blur=&#8221;30px&#8221; box_shadow_color=&#8221;rgba(0,0,0,0.06)&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<div class=\"ui-accordion-content ui-corner-bottom ui-helper-reset ui-widget-content ui-accordion-content-active\" id=\"ui-id-10\" aria-labelledby=\"ui-id-9\" role=\"tabpanel\" aria-hidden=\"false\">\n<p>Yes, both residential and commercial real estate appraisers are eligible for coverage under this program.<\/p>\n<\/div>\n<p>[\/et_pb_toggle][et_pb_toggle title=&#8221;Do you provide coverage for appraisers who have had a claim or disciplinary action?&#8221; open_toggle_text_color=&#8221;#000000&#8243; open_toggle_background_color=&#8221;#ffffff&#8221; closed_toggle_text_color=&#8221;#000000&#8243; closed_toggle_background_color=&#8221;#ffffff&#8221; _builder_version=&#8221;4.16&#8243; title_level=&#8221;h4&#8243; title_font=&#8221;Montserrat|500|||||||&#8221; title_line_height=&#8221;1.4em&#8221; body_font_size=&#8221;16px&#8221; body_line_height=&#8221;2em&#8221; custom_padding=&#8221;30px|40px|30px|40px|true|true&#8221; animation_style=&#8221;fade&#8221; border_radii=&#8221;on|10px|10px|10px|10px&#8221; border_width_all=&#8221;0px&#8221; box_shadow_style=&#8221;preset1&#8243; box_shadow_blur=&#8221;30px&#8221; box_shadow_color=&#8221;rgba(0,0,0,0.06)&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<div class=\"ui-accordion-content ui-corner-bottom ui-helper-reset ui-widget-content ui-accordion-content-active\" id=\"ui-id-14\" aria-labelledby=\"ui-id-13\" role=\"tabpanel\" aria-hidden=\"false\">\n<p>We review each account individually, as well as the details surrounding any claim or disciplinary action. In most cases, we are able to offer a proposal for coverage.<\/p>\n<\/div>\n<p>[\/et_pb_toggle][et_pb_toggle title=&#8221;What happens when I am no longer appraising or retire?&#8221; open_toggle_text_color=&#8221;#000000&#8243; open_toggle_background_color=&#8221;#ffffff&#8221; closed_toggle_text_color=&#8221;#000000&#8243; closed_toggle_background_color=&#8221;#ffffff&#8221; _builder_version=&#8221;4.16&#8243; title_level=&#8221;h4&#8243; title_font=&#8221;Montserrat|500|||||||&#8221; title_line_height=&#8221;1.4em&#8221; body_font_size=&#8221;16px&#8221; body_line_height=&#8221;2em&#8221; custom_padding=&#8221;30px|40px|30px|40px|true|true&#8221; animation_style=&#8221;fade&#8221; border_radii=&#8221;on|10px|10px|10px|10px&#8221; border_width_all=&#8221;0px&#8221; box_shadow_style=&#8221;preset1&#8243; box_shadow_blur=&#8221;30px&#8221; box_shadow_color=&#8221;rgba(0,0,0,0.06)&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<div class=\"ui-accordion-content ui-corner-bottom ui-helper-reset ui-widget-content ui-accordion-content-active\" id=\"ui-id-18\" aria-labelledby=\"ui-id-17\" role=\"tabpanel\" aria-hidden=\"false\">\n<p>An Extended Reporting Endorsement will be offered to you. This endorsement extends the period of time in which to file a claim under your policy. We offer Extended Reporting Endorsements for periods of one to five years and an unlimited endorsement for qualified retirees.<\/p>\n<\/div>\n<p>[\/et_pb_toggle][et_pb_toggle title=&#8221;Why does an appraisal management company need this coverage if each of the individual appraiser subcontractors is required to carry their own E&#038;O coverage?&#8221; open_toggle_text_color=&#8221;#000000&#8243; open_toggle_background_color=&#8221;#ffffff&#8221; closed_toggle_text_color=&#8221;#000000&#8243; closed_toggle_background_color=&#8221;#ffffff&#8221; _builder_version=&#8221;4.16&#8243; title_level=&#8221;h4&#8243; title_font=&#8221;Montserrat|500|||||||&#8221; title_line_height=&#8221;1.4em&#8221; body_font_size=&#8221;16px&#8221; body_line_height=&#8221;2em&#8221; custom_padding=&#8221;30px|40px|30px|40px|true|true&#8221; animation_style=&#8221;fade&#8221; border_radii=&#8221;on|10px|10px|10px|10px&#8221; border_width_all=&#8221;0px&#8221; box_shadow_style=&#8221;preset1&#8243; box_shadow_blur=&#8221;30px&#8221; box_shadow_color=&#8221;rgba(0,0,0,0.06)&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<div class=\"ui-accordion-content ui-corner-bottom ui-helper-reset ui-widget-content ui-accordion-content-active\" id=\"ui-id-18\" aria-labelledby=\"ui-id-17\" role=\"tabpanel\" aria-hidden=\"false\">\n<p>The appraiser\u2019s errors and omissions policy protect the appraiser, not the AMC. 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