That’s great news John, Thanks! My insurance is due in May and this will be a huge savings. \:D/
We are facing the same problem in Florida.
Is this product available in other states?
In New York, many of the brokers are writing the Policy under Peerless/Excelsior which is a division of Liberty Mutual. The base premium is approx. 500 for most vocations, and up until 2003 the base rate is 300 including brokerage commission.
I do not know if they write GL outside of New York State, however telling your Insurance Broker about this Insurance Company, and with a small amount of investigation will help you if you are outside of New York State.
The GL Rate if you go through NACHI for E and O Insurance is estimated at under 500 and they will match the NYS requirements of 150,000, $500,000 as set forth by the NY State Licensing Law.
Multiple grads have already bought the NACHI E and O plan with GL Rider and are pleased with it. You should also know, which is part of the NY State application, that New York State must be listed as an additional insured, to make sure that you don’t cancel the policy once you get your license from NY State.
It’s great that there is a broker actively writing GL for Home Inspectors, however I would recommend you speak with your local insurance carrier to see what they can do for you as well. They may have a less expensive plan. For Example, there was a plan o the books, up through September of last year that wrote GL policies for $ 210.00 total. They stopped writing temporarily in NYS to determine their liability, but those who obtained coverage are renewed, and not being cancelled to date.
Much luck and success in your insurance deceision making process.
Greg, I’m working on FL now.
Greg, I got it for almost every state. Same folks: http://www.nachi.org/nygl2006.htm