Insurance 101

During a recent home inspection, you missed the polybutylene pipes in the attic. When your clients, the home buyers, discovered your error, they were furious. They didn’t just sue you; they sued everyone involved in the home’s sale. That included the real estate agent that referred the job to you. What is referring party indemnification?…

Did you know that not all insurance policies are created equal? Or that policies can exclude some business practices? If you don’t know the ins and outs of your policy, you could end up buying less coverage than you need. In this article, we go over three of the most common insurance policy pitfalls plaguing…

Earlier this year, one of our insured home inspectors sent his radon monitor in for calibration. When the servicing was complete, the manufacturer shipped the monitor back to the home inspector. But, when the inspector returned home, the radon monitor was nowhere to be found. The inspector put in a claim with the radon monitor…

Several months ago, we were reviewing a home inspector’s workers’ compensation policy. Unbeknownst to that home inspector, their insurance carrier wasn’t familiar with the property inspection industry. Despite their lack of experience in the inspection space, the carrier didn’t want to turn the home inspector away. Instead, the insurance company categorized (or grouped) the home…

Let’s face it: Insurance companies have a bad reputation. Most people don’t trust insurance carriers (let alone like them). And, while many people learn this distrust from others, some learn it from bad experiences with the insurance companies themselves. With a culture of skepticism surrounding insurers, it isn’t surprising why home inspectors don’t want to…

From our decade of claims data, we know that the majority of home inspectors receive at least one claim in their career. And, when they do, it never feels great—particularly when that claim is meritless as about 80 percent of home inspection claims are. In his recent article, home inspector Randy Sipe described the feeling…

Try as you may, you can’t always be a one-stop shop. Maybe your inspection business is still small, so you don’t offer many additional services beyond the basic inspection. Or maybe your client needs something that goes beyond the Standard of Practice (SOP).1 Regardless, if you’re unable to meet a client’s needs in-house, you’re likely to…

This article was originally published in the ASHI Reporter: August 2018 Edition. You can see how the appeared in print here. Whether you’re a new or seasoned inspector, buying home inspection insurance can be daunting. With mile-long policies and seemingly identical advertising, it can be tough to determine exactly how insurance providers differ. And without understanding those…

Planning for retirement? Interested in another field? Thinking about selling your business? Then you should consider home inspector tail coverage. No matter your reason for making a career shift, it’s important to know how the change could affect your insurance coverage. After all, no one wants an uncovered lawsuit from an old client to damper their…

Why purchase InspectorPro home inspection insurance? Because we give home inspectors more than other insurance providers. Here are our top five benefits: 1. First-Rate Risk Management Stop worrying about how you might get a claim and start doing things to prevent them. Our risk management team publishes new material twice a month so that you…