PROGRAM OVERVIEW

There are options available for you if you are looking for home inspector insurance. The InspectorPRO insurance program has been specifically designed as a “best in class” home inspector insurance program. The program is available for home inspectors and commercial building inspectors in all 50 states. By providing home inspector insurance, home inspector errors and omission (E&O) and home inspector general liability insurance, together in one policy solely to home inspectors and commercial building inspectors as well as leveraging the purchasing power on a group basis. InspectorPRO helps members achieve substantial savings on their home inspector insurance.

WHY DO I NEED HOME INSPECTOR INSURANCE?

There are multiple hazards and risks that are faced by home and building inspectors in the course of an inspection. Whether they be general liability claims or errors and omission claims, a home inspector insurance policy should address both types of risks.

Some states require the inspector to carry general liability insurance only, while other states require both general liability and E&O, and there are still a few states that don’t require any home inspector insurance coverage to perform property inspections. Understanding what your state requires versus what insurance coverage will secure your business and give you peace of mind are two very different things. If you want to understand what both types of hazards are watch our short video explaining the different coverages – scroll down for the video.

General Liability insurance can provide coverage if somebody or something is physically harmed in some way. For instance, if an inspector leaves a ladder out during a routine roof check and some children are injured while playing on it. Such lawsuits could be covered under General Liability. Errors & Omissions responds to financial losses someone may incur because of your actions or in-actions. For example failing to report or notice that a chimney needed repair during a property inspection would be an area where E&O could respond. Both coverages are essential to a property inspector because you make professional recommendations while working in hazardous conditions.

HOME INSPECTOR INSURANCE COVERAGE HIGHLIGHTS

General & Professional Liability

Coverage Limits Available

  • $2,000,000
  • $1,000,000
  • $500,000
  • $300,000
  • $100,000

Deductibles / Retentions

  • $250 General Liability
  • $1,500, $2,500, or $5,000 Errors & Omissions

The InspectorPRO policy is written on a Claims Made basis with the ability to provide full retroactive coverage (when properly reported). InspectorPRO can provide coverage for all structural inspections (including but not limited to Residential, Commercial and Industrial structures) in addition to draw, FHA, 203K, and others. The program provides home inspector insurance in all 50 states and can meet or exceed regulatory requirements (when appropriate options are selected). By simplifying the home inspector insurance process inspectors can focus on their business rather than their insurance.

The InspectorPRO Insurance Program can provide all the common home inspector insurance components that property inspectors need in their insurance. The policy does not charge additional fees or make exclusions based on your company structure. Corporations, LLCs, or Sole Proprietorship’s are all treated the same.

Additionally General Liability and Errors & Omissions insurance are provided on the same policy to reduce gaps between the two coverages. Coverage can be extended to Real Estate Brokers and Agents where required for their referrals to you. Employees or subcontractors are also eligible for coverage when properly disclosed. Fidelity/Crime coverage is available if requested on your application. Home Inspector Insurance is available with many endorsements including; mold, termite, radon, septic, pool and spa, mortgage field services, code, lead, wind mitigation, EIFS, and carbon monoxide.

WHAT IS THE DIFFERENCE BETWEEN ERRORS & OMISSIONS AND GENERAL LIABILITY INSURANCE

STATE REQUIREMENTS

Alabama

Alaska

Arizona

Arkansas

California

Colorado

Connecticut

Delaware

District of Columbia

Florida

Georgia

Hawaii

Idaho

Illinois

Indiana

Iowa

Kansas

Kentucky

Louisiana

Maine

Maryland

Massachusetts

Michigan

Minnesota

Mississippi

Missouri

Montana

Nebraska

Nevada

New Hampshire

New Jersey

New Mexico

New York

North Carolina

North Dakota

Ohio

Oklahoma

Oregon

Pennsylvania

Rhode Island

South Carolina

South Dakota

Tennessee

Texas

Utah

Vermont

Virginia

Washington

West Virginia

Wisconsin

Wyoming