Originally Posted By: Chris Butler This post was automatically imported from our archived forum.
Dear Mr. Schwalbe,
I am sorry to hear that you felt that I was blowing off the value of the test that NACHI offers for their membership, as I never referred to NACHI’s test as a joke. But to each his own and perception is everything. But FREA’s requirement (which is dictated by the carrier) is that you go to an inspection school and be trained in Home Inspection before we can underwrite you into the program and accept you based on the requirements of FREA and the carrier.
As a solution to your problem, I gave you the name of Allen Insurance and Bob Pearson who could potentially underwrite you. Tell me the last time a company referred you or anyone for that matter to the competition. Based on your construction trade experience as you had indicated in our conversation I then referred you to Bob at Allen. This is the requirement that Allen has and also requires (I believe) that you belong to a nationally recognized association or state association. His reasoning is that you are then getting continuing education credits, now I do not know if he recognizes NACHI or not - you’ll have to share that with the rest of the NACHI group or have Nick take it up with Bob if they do not.
So I am sorry that I offered a solution to your situation, as we were unable to potentially underwrite and insure you under the current experience that you have.
Originally Posted By: tschwalbe This post was automatically imported from our archived forum.
What I am upset about is you said this insurance would be available to all nachi members You could save a lot of people including yourself a lot of time if you started a new post outlining the exact requirements to clear up all of this confusion.
Originally Posted By: sbonilla This post was automatically imported from our archived forum.
Hello to all
I am located in Bakersfield, Ca. although California has no insurance requirements, i truely understand the need for E&O insurance. Will there be any one insurance company that i can contact to get E&O insurance at a reasonable rate?. Thank you for any information you can provide.
Originally Posted By: jhagarty This post was automatically imported from our archived forum.
tschwalbe wrote:
What I am upset about is you said this insurance would be available to all nachi members You could save a lot of people including yourself a lot of time if you started a new post outlining the exact requirements to clear up all of this confusion.
Thank You.
Todd:
Chris had posted in the past that the FREA policy is available to all NACHI inspectors that have attended a formal training program.
Originally Posted By: hnelson This post was automatically imported from our archived forum.
Chris Butler wrote:
Ladies and Gentlemen,
a tremendous amount of you have been asking for some type of discount on Professional E&O from any of the providers listed on the NACHI site. So I wanted to update all of you on the ongoing discussions that have taken place between Nick and I on this issue over the recent months. FREA is willing to offer some form of discounted E&O for NACHI members in the United States that have completed 200+ inspections and have attended a formalized Home Inspection training program, due to the professionalism of you the members and the standards by which you practice. Nick and I are very close to finalizing the agreement between FREA and NACHI for all of you interested in lowering your insurance rates. Stay tuned for follow-up information to this next week.
Sincerely,
Originally Posted By: cmccann This post was automatically imported from our archived forum.
Chris, I will be completing my 200th inspection sometime this month. I have completed formal training. On this forum, please tell me what my rate would be for E&O, and what exactly will be the discount. Thanks, I think many are interested in what the answer will be.
I'll tell you what, bundle it up with GL. What would be my annual premium?
Originally Posted By: jcampbell This post was automatically imported from our archived forum.
Chuck,
I've noticed the nailing down a premium is like hitting a moving target. There are several riders you can expect with FREA e & o, GL is one... the last I saw was 450.00. Here is what is off their website... pre-discount:
Prices/Membership Fees Coverage Type
Level A Level B Level C Candidate
E&O $3295 $2995 $2795 $3550
Corporation $330 $300 $280 $330
General Liability $450 $450 $450 $450
WDI/WDO $250 $250 $250 $250
Radon $150 $150 $150 $150
5K Bond $75 $75 $75 $75
10K Bond $135 $135 $135 $135
note there is a fee of 350.00 if you chose to go with installment plan...
Originally Posted By: Chris Butler This post was automatically imported from our archived forum.
In response to Erol - no we do not offer another deductible.
In addition to Jeff’s post which is great by the way on the numbers…
Thanks!
The cost for E&O to NACHI members are as follows:
Level A - $2,995.00
Level B - $2,695.00
Level C - $2,525.00
Candidate - $3,550.00 (for inspectors that have completed under 200+ inspections)
If you have had E&O coverage for your 1st year with someone else and have completed less than the 200+ inspections - you are still eligible for Level A, B or C.
The best thing to do is call me to rate you personally. As you might choose optional coverages like GL, WDO/WDI, Radon, etc.
Originally Posted By: Guest This post was automatically imported from our archived forum.
Quote:
gromicko wrote:
The whole E&O discount thingie is a big project.
We had to have an exam that weeds out 1/2 the inspectors. Done.
We had to have an iron clad pre-inspection agreement. Done.
We had to rewrite our Standards of Practice. Done.
We had to get an attorney on board. Done.
We had to gather data for the underwriters with an online survey. Done.
We had to get an agent hold harmless agreement. Done.
We had to start an arbitration service. Doing.
Finally we have a few companies realizing its very profitable to write E&O insurance for NACHI members. We'll get E&O insurance premium discounts because as NACHI, we deserve to pay less than other home inspectors. The savings should be about 4 times our membership dues. But like all the many many member benefits that came before, it takes a lot of work and time. Canada was even harder still.
If the President of ASHI is truly a smart business man he'll send in his NACHI application for this one member benefit alone. icon_smile.gif We're making it mathematically stupid not to join NACHI.
Nick
Is 200.00 dollars 4x membership dues?
Does every major association get the same deal? Was the terminology based on ASHI's standards? [/quote]
Originally Posted By: cbutler This post was automatically imported from our archived forum.
Dear Mr. Fabry,
your post on the 3% - 6%…
I have no idea where that information is from. As it does not concern us or is that the discount for NACHI members.
Item #2 - the stuff you cut and pasted that Nick quoted was about a program that he was working on with a company earlier this year and was not with us. So the $200.00 x 4 thing does not apply as well.
Thanks for allowing me to clarify our program with NACHI.
Originally Posted By: patria This post was automatically imported from our archived forum.
Chris Butler wrote:
Ladies and Gentlemen,
a tremendous amount of you have been asking for some type of discount on Professional E&O from any of the providers listed on the NACHI site. So I wanted to update all of you on the ongoing discussions that have taken place between Nick and I on this issue over the recent months. FREA is willing to offer some form of discounted E&O for NACHI members in the United States that have completed 200+ inspections and have attended a formalized Home Inspection training program, due to the professionalism of you the members and the standards by which you practice. Nick and I are very close to finalizing the agreement between FREA and NACHI for all of you interested in lowering your insurance rates. Stay tuned for follow-up information to this next week.
Sincerely,
Originally Posted By: cbutler This post was automatically imported from our archived forum.
The cost for E&O to NACHI members are as follows:
Level A - $2,995.00 Level A…$1,000,000 Coverage Limit
Level B - 2,695.00 Level B.... 500,000 Coverage Limit
Level C - 2,525.00 Level C... 300,000 Coverage Limit
Candidate - $3,550.00 (for inspectors that have completed under 200+ inspections) $500,000 Coverage Limit
If you have had E&O coverage for your 1st year with someone else and have completed less than the 200+ inspections - you are still eligible for Level A, B or C.
The best thing to do is call me to rate you personally. As you might choose optional coverages like GL, WDO/WDI, Radon, etc which have additional costs associated with each.
Originally Posted By: bkelly1 This post was automatically imported from our archived forum.
Chris,
I have just received the renewal for my E&O insurance. The cover page said there was no longer any discounts due to rising cost of insurance. My question is does this include the NACHI discount of 10% mentioned in this thread???????? Wanted to know before renewal. Thanks in advance.