Insurance for Home Inspectors
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Coverage Plans for All Your Needs
For Home Inspectors there is a possibility of oversights during your work, improper advice and more, so we have the coverage to help keep you out of court.
Essential coverage to meet client demands
General LiabilityInstant quote »
- Coverage against claims from bodily injury, property damage and personal injury
- Coverage for products/completed operations
We've Got You Covered with Coverage You Need
Home inspectors spend a great deal of time on client’s property and in their homes. This leaves a risk of potential damage to property, injury to yourself and your employees and possible injury to your clients during your work. Next to Errors & Omissions there are more insurance coverages to consider:
Errors & Omissions
Protects you against mistakes, oversights, and errors in your home inspection process. It pays defense and settlement expenses, so you don’t have to drain your bank account.
Pays to replace or repair property damaged by your services (belonging to a third party). It also covers injury to third parties and advertising injury if you are accused of harming a third-party with your advertising strategy.
Business Interruption insurance covers the loss of income that your home inspection business suffers after a disaster. The income loss covered may be due to the reason your business was closed in the first place.
When the equipment for your home inspection business malfunctions or experiences unexpected breakdowns, you'll be glad that you have this insurance. This insurance will cover the cost to repair or replace the damaged equipment, the lost income, and the necessary expenses during the restoration period of your damaged equipment.
Pays costs that occur when you are in an accident traveling to a job site. If you use a personal vehicle, you need to add hired and non-owned auto coverage.
Frequently Asked Questions
Do home inspectors carry insurance?
Many states require home inspectors to carry certain types of coverage and minimum limits for liability. An insurance is designed to protect you from unintended circumstances that result in losses, or hardship of your clients and your business.
What is ASHI certified?
American Society of Home Inspectors (ASHI) certified is the highest level of certification a home inspector business can receive. These are the only true 3rd-party certified inspectors in the industry, and are accredited by the National Commission for Certifying Agencies (NCCA).
Is Workers Compensation necessary for home inspectors?
Yes. Even though there are instances where home inspectors can be exempted from Workers' Compensation, there are claims and liabilities in which a health insurance would not be able to cover.
How much does it cost to insure a home inspector business?
The cost of a home inspector insurance will vary on specific factors. The cost will depend on the type of insurances your business needs. For instance, a General Liability insurance will cost around $500 annually.
Why does a Home Inspector need insurance?
Home inspectors work closely with buyers in the process of purchasing a new home. They count on you to thoroughly inspect a home, identify any potential problems, and deliver the findings. Buyers rely on your recommendations to determine if they should continue with the purchase. If you miss something critical, it can result in a lawsuit months after the home inspection is complete. Home inspector insurance is beneficial because it protects you during these costly scenarios. Individuals working in building inspection inspect and evaluate a property and report on its condition. They do this for real estate transaction purposes.
What risks could Home Inspectors face?
There are many risks you face each day that result in a lawsuit or unwanted expenses to your home inspection business including:
- Property Damage: It’s common for home inspectors to move items during an inspection or use heavy equipment. If your ladder crashes and breaks the glass on a homeowner’s cabinet or you flood the bathroom during a routine water inspection, you’ll be held responsible for the damages.
- Oversights: It’s hard to document every finding without going overboard. If you fail to notice certain pests or potential mold and the buyer ends up with a significant bill, as a result, later, they can file a lawsuit for negligence.
- Auto Accidents: It’s impossible to complete a home inspection anywhere but at the home. If you use your personal vehicle to travel to job sites and cause an accident, your personal auto policy won’t cover the expenses.
- Damaged Equipment: Specialized tools make it possible to complete home inspections efficiently. If these tools are stolen, broken, or damaged, expenses to replace them can add up in addition to lost revenue while they are unusable.
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