Just got quotes for E&O coverage here in Riverside. $4,200/year for $1M coverage seems insane. Is California really that much more expensive than other states?
E&O rates in California - sticker shock
Arkansas rates are about half that. California's litigation environment drives up all professional liability costs. Might be worth forming an LLC in Nevada or another business-friendly state.
Shop around. I've seen 50% differences between carriers for identical coverage. Also consider higher deductibles to lower premiums.
California does have higher E&O rates due to the legal climate, but don't let that discourage you from getting proper coverage. One lawsuit without insurance could cost far more than years of premiums.