Anyone have any experience with E&O & General Liability Insurance now being offered by Home Gauge? Looks like a great options for people just starting out… 1,000,000 coverage for both E&O/General Liability with $1,000 deductible – and the cost is $270 for the first 25 inspections. Inspection #26-100 are $20 each. Only catch is you have to use HG software…
Curious is anyone has any experience with HG and their Insurance…
No on the insurance but yes on their software. I have used it for a few years and it works well.
That sounds like a great option for the time that you are building your business. Once you really get rolling, you would just have to compare it to the premium of a conventional policy to determine what is best for you.
The premium for my first year was about $1800, whether I did one or 101 inspections. This would have been a nice option.
Bonus, it’s great software.
Thanks guys… I did the math and for me – my “break even point” is 109 inspections. The HG insurance will DEFINITELY save me money now since I’m in my first year and just getting my feet wet. I also agree – their software is great… As a new inspector it really helps to keep you on the right track and offers a lot of customization.
Our state requires a copy of the binder and certificate and if it renews monthly I would have to provide and indate certificate, so i would be required to send updated certificates to my State office. you may want to check your state requirements to ensure compliance.
Internachi offers great E&O/GL insurance. I pay about $1100 a year.
My insurance was $1800 first year. I’m so busy with other things, I put the inspection business on hold. Pay as you go for insurance as well as software, to me is a great option as you build a business. I’m not looking to build a 6 figure business, only to have it as a supplemental to retirement. I agree, figure out the break even, and go with what works financially. I’m also a licensed realtor, broker I work with has a per transaction E&O plan. works very well.