$750 E & O Insurance

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#1

Originally Posted By: rbliven
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I spoke with York-Jersey Underwriter’s today by phone. In January they are planning to offer E & O insurance for $750 per year. The limit is $25,000 annual income. They offered E & O insurance at this price a few years ago, and they sold many polices. Many of the home inspectors soon made over the $25,000 limit, so they discontinued this policy for time. If you earn less than $25,000 per year. Contact Sandra M. Wassong: swassong@york-jersey.com. She will send you an application by e-mail.


E & O insurance for $750. ![icon_biggrin.gif](upload://iKNGSw3qcRIEmXySa8gItY6Gczg.gif) ![icon_biggrin.gif](upload://iKNGSw3qcRIEmXySa8gItY6Gczg.gif) ![icon_biggrin.gif](upload://iKNGSw3qcRIEmXySa8gItY6Gczg.gif)

Robert Bliven
RB Inspection Service

#2

Originally Posted By: gporter
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Wow almost to good to be true. It is hard to find and I would be afraid to walk away from who I have now if my business went above 25,000.00 and then have to search again.

–
Gary Porter


GLP’s Home and Mold Inspections LLC


Orlando, Fl 32828


321-239-0621


www.homeandmoldinspections.com

#3

Originally Posted By: rbliven
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I didn’t ask, but I would bet they have E & O insurance for anyone who earned more than $25,000. After hearing their price, my guess is that their regular E & O insurance might be less then all of the others.


My inspection business is fairly new, so I am not getting a lot of work yet. I can't afford $3,500 for E & O insurance, but anything under $1000 is a perfect price for my business. York - Jersey is helping my business at a time when I need help the most. I would stay with York - Jersey E & O insurance after my income increases above $25,000 because they were there for me.


Robert Bliven
RB Inspection Service

#4

Originally Posted By: gporter
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I think I will contact them. Thanks.

–
Gary Porter


GLP’s Home and Mold Inspections LLC


Orlando, Fl 32828


321-239-0621


www.homeandmoldinspections.com

#5

Originally Posted By: chorne
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I would read the policy extremely well before buying


at that price!


Carla

#6

Originally Posted By: jrivera
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Carla, you sounds suspicious, why ? Price too low, does it sound like somebody is working off of a folding table on a street corner.


Anybody see Napadow lately !!!!

#7

Originally Posted By: bking
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Why would you stay with that insurance when your income was over the limit ? It would not cover one nickel then.

–
www.BAKingHomeInspections.com

#8

Originally Posted By: dvalley
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What happens when you exceed the $25,000 income by $1.00?


Is the contract null and void?

As stated, read every bit of that policy. Sounds a bit cheesy.

--
David Valley
MAB Member

Massachusetts Certified Home Inspections
http://www.masscertified.com

"Some cause happiness wherever they go; others, whenever they go."

#9

Originally Posted By: jrooff
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ATTENTION, I E-mailed them here is the reply.


The Policy we offer is for the Mortgage Field Service Industry only. It is endorsed by the National Association of Mortgage Field Services. It does not include Home Inspectors. I apologize for any inconvenience or misunderstanding.



Thank you for your patience and assistance.



Sandra M. Wassong

York-Jersey Underwriters, Inc.

Phone: 800-392-6958 Ext. 314

Fax: 732-530-7080

--
www.mshomeinspector.com

#10

Originally Posted By: jferry
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I had an extensive correspondence with Mr. Bliven regarding this E & O insurance wherein I expressed considerable doubt that coverage could be obtained for $750.00. I looked at the website for York-Jersey Underwriters and could find no reference to E & O insurance for home inspectors.


While I'm sorry that the story turned out to be untrue, I am glad that York-Jersey Underwriters has set the record straight before any of our members got hurt.

#11

Originally Posted By: bmerrell
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I personally e-mailed the firm and asked for information for my graduates, especially with Licensing around the corner in New York. They were pleasant and relied that they were not offering Insurance to Home Inspectors but rather to those who perform simple inspections for lenders such as Occupancy inspections, etc. Known as Property Field Inspections, they told me they do not insured Home Inspectors.


Sometimes when it looks too good to be true it is. To that end, there is no $750 E and O insurance for Real Home Inspections, but rather for Field Inspections.

I have found several policies, and plan on posting all results within 1-2 weeks once I received state notification that each policy is licensed in NY

#12

Originally Posted By: jferry
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E & O insurance is not a fungible good. It is not going to be the same price for every inspector. The price will vary according to various rating bases, including location, length of experience, prior claims, annual sales, size of deductible, limit of coverage and other riders, such as, radon, mold and the like.


The Towers Perrin program, available only through the NACHI member portal, will be available nationally by the time of our convention in February. Considerable time and effort went in to establishing this program and negotiating the discounts for the benefit of our membership and it is to the membership's benefit that this program be worthwhile to both Towers Perrin and AIG.

It will be very difficult to keep the program if it is not supported by the membership.

#13

Originally Posted By: bmerrell
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I will promte the E & O products sponsored by NACHI


Thanks for the input

Bill

#14

Originally Posted By: jrivera
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I guess it was more like $750.00 a limb eusa_think.gif eusa_think.gif eusa_think.gif