Originally Posted By: rbliven This post was automatically imported from our archived forum.
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.   
Originally Posted By: gporter This post was automatically imported from our archived forum.
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.
Originally Posted By: rbliven This post was automatically imported from our archived forum.
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.
Originally Posted By: jrooff This post was automatically imported from our archived forum.
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.
Originally Posted By: jferry This post was automatically imported from our archived forum.
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.
Originally Posted By: bmerrell This post was automatically imported from our archived forum.
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
Originally Posted By: jferry This post was automatically imported from our archived forum.
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.
