Originally Posted By: Josh Rabanus This post was automatically imported from our archived forum.
Hello,
My name is Josh Rabanus, and I am new to the business. I am thinking of joining NACHI, and one of the reasons is they say that insurance companies give discounts on E&O insurance to NACHI members. Is this true? And how much of a discount?
Also, I really enjoy reading the message board. Books and training can only take you so far. It is the experience in the field which is the real education.
Originally Posted By: Josh Rabanus This post was automatically imported from our archived forum.
Nick,
Thanks for the welcome and the links. I am not done reading the board on arbitration yet however I am very interested in how it works.
Hypothetical situation, someone has a complaint about my inspection. What is the process of the arbitration, and how does it settle things between me and my disgruntled client?
The arguements between the guy from FREA and the other members colorful and interesting. However I dont know any latin.
As far as joining NACHI is save money on insurance, that is not the case. I have been a member of HIF (Housing Inspection Foundation) for two years. I know I know I said I was new to the business which is true. I have been doing home inspections for friends. Also I have done some preinspections on property listings for some real estate agent friends of mine free of charge. All of which to help me gains some field experience while I work my full time job. Anyhow, long story short, HIF screwed me a couple times, and there is no help from them on marketing, continuing education, etc. (I guess you get what you pay for)
Out of all the web sites I have seen from ASHI to NAHI. Yours impressed me the most. The message boards are a wealth of information. Your organization seems to genuinely care about its members. These are some of the reasons I am thinking of joining. So, therefore after the holiday craziness is gone, I will take the test and join. Then I will start going full steam with the inspection business.
Originally Posted By: Chris Butler This post was automatically imported from our archived forum.
Josh,
if you have any questions about us please contact myself at the below listed info. i would definetely agree with Nick about the saving money thing. Join NACHI to make more money because of the excellent services and support they provide.
Originally Posted By: Mark Carlton This post was automatically imported from our archived forum.
Hello,
My name is Mark Carlton and I am also looking to start an inspection business in Minnesota. Does anyone know if you can buy E&O insurance for a certain amount of inspections (say first 20) and add on a full policy as your business grows?
Also, I am planning on registering by business as an LLC. Does anyone have any insight as to the best setup for this type of business?? Sole Proprietor, S-Corp, LLC, etc.
Originally Posted By: rpalac This post was automatically imported from our archived forum.
Hi Mark,
Iam currently doing the same.
I will let you know what I come up with.
I am in Pennsylvania
the web site here is www.state.pa.us this might aply to your area as well then go to corportate oir revenue to get a phone number.
Originally Posted By: mbailey This post was automatically imported from our archived forum.
Mark Carlton,
The following was copied from another post on this message board and pertains directly to Minnesota:
"Posted with Bud's permission:
----- Original Message -----
From: Bud Griffin
To: nick Gromicko
Sent: Monday, November 10, 2003 10:16 PM
Subject: MN E&O
Nick,
I'm not sure if the Minnesota Joint Underwriting Association is an official state agency or not. It doesn't seem like they are because they're too nice and too organized . Their web site is www.mjua.org. There is an application for home inspectors. You just need to fill out what you can and leave the rest blank. A hint, don't say you're going to do more than 15 - 20 inspections. The basic premium of $332.00 covers 22 inspections and when you do more than that you can pay for another block. The premium includes E&O and general liability with no deductible. The fee is good for one year ending in July. If you don't use them all up, too bad. You have to renew again in July. If you ask, they will prorate the premium if your into the year. They only charged me $221.00 for 8 months. If I do more than the number of inspections I paid for I just send in additional premium. Plus it's on the honor system, but they reserve the right to audit you for the number of inspections performed. They understand that when you become successful you'll go out and buy an annual policy. They just want to make sure everyone gets insurance and they want to make it easy for people just starting out to get insured. I went to their office on Wednesday before my inspection and I was in and out in 10 minutes. The underwriter (Amy Gordon) looked at my application, wrote up a binder and I was on my way. The phone number is 651-222-0484 and the underwriters name is Amy Gordon.
That's about it.
Bud"
Also...When it comes to insurance stay away from Nation Hazard - do a search on this board to find all the details about them.
-- Mark Bailey
Stonegate Property Inspections LLC
Ponca, NE
Originally Posted By: Mark Carlton This post was automatically imported from our archived forum.
Mark Bailey Thank you for the message from Bud Griffin. I have contacted the Minnesota Joint Underwriters Association and am getting a copy of their policy. it is $332 for 22 inspections and can be renewed after that. Appears to be a good tool for someone getting started. Better than initially spending $3500! I am not sure if other states have the same type of thing.
Originally Posted By: Josh Rabanus This post was automatically imported from our archived forum.
Mark,
Who did you go to in order to get the $320 for 20 inspections E&O insurance? And what was the process to get it? I wonder if this is something that can be done in Indiana? 
Originally Posted By: Mark Carlton This post was automatically imported from our archived forum.
Josh,
I went through the Minnesota Joint Underwriters Association. Don't know if there is an Indiana Joint underwriters Association or not. Might take you some digging to find it in your state. By the way, what part of Indiana are you in? I was born and raised in Evansville, Indiana and located to Minnesota 2 years ago.