E & O or NO!?

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Originally Posted By: jcampbell
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Please take the time to participate in this survey of whether you carry E & O, GL, BOTH or not at all…


I have seen so much written on this and cannot imagine not having either... but please participate...

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Jeffrey S. Campbell
http://www.maineshomeinspector.com

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Originally Posted By: jcampbell
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almost 40 views and only 10 votes… hmmmmm…

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Jeffrey S. Campbell


http://www.maineshomeinspector.com

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Originally Posted By: aslimack
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Sorry Jeff. I think alot of people view that question not unlike, How much do you make? As stated before by others, inspectors view insurance as for our protection, not the clients. Its kinda a personal thing.


Adam, A Plus

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Originally Posted By: jcampbell
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Ohh… I absolutely view it as for our protection… i do not get the How much you make thing… but I suppose it can be looked at those making money can afford it? I think anyone serious about the business should consider it stongly… I have been shopping for E & O, it is SAD… not much to choose from and it is expensive… besides… this is anonymos (SP?) so it can’t hurt to post a vote…

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Jeffrey S. Campbell


http://www.maineshomeinspector.com

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Originally Posted By: jrooff
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Jeffrey, I understand your thinking, why members choose not to participate in a questioner? But that’s the way it is, about 5-10% will participate, your seeing it happen 40+ lookers and a few voters. Go figure they take the time to read it than walk on by. What more could it take to hit an answer than submit and move on, sorry to say the move on part most have down really good. Good luck in your poll. By the way I voted.

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Originally Posted By: Blaine Wiley
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lose, my primary house and it’s equity can’t be touched. Neither can my cars up to a certain value, 6 months living expenses, cash value of life insurance, or personal belongings. At 3k per year, it is becoming very tempting to do without!!

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Originally Posted By: dedwards
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I once read the average claim against a Home Inspector is 2K or less. Average. So if you do a top notch inspection and set aside about 5 grand or more in an emergency fund you can save the premiums for one year and pay for your fund. I personally think alot of the E and O rhetoric is generated by those who stand to benefit the most. Those who are selling it. Contractors don’t carry E & O and they generate a whole lot more problems for home buyers than HI ever thought about. Like someone said it is a business decision and you have to do the research and prepare yourself. The bottom line is to do a sterling job on the inspection and follow the SOP. It is there for a good reason.

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Originally Posted By: djohnsen
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I do not carry E & O Insurance, not because I don’t want to but because I have not been able to complete the 200 inspections required by most insurance companies. I teach part time for an Environmental firm to pay the bills (Asbestos & Lead Disciplines). Their are so many home inspectors in my area that the average is about 4 home inspections a month. I am interested in the new E & O Insurance program that will be offered by NACHI maybe it will be affordable? :

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Originally Posted By: cbutler
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Dear Mr. Johnson,


we do not require 200 inspections be completed first as you alluded too.


Call with any questions.

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Sincerely,


Chris Butler


(Former) Director of Membership @ FREA


chris_butler32@yahoo.com

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Originally Posted By: ksells
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In Washington State, it is mandatory to have insurance and obtain a bond.


This is required by the Dept. of Agriculture to be a licensed Structural Pest Inspector, pass a written exam and show proof of insurance.


This is very costly, and is also a good marketing tool.


K. Sells

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Originally Posted By: cbutler
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Ms. Sells,


in the state of Washington there are 4 options and two involve E&O. Option #1 & #3


Option #1 - Occurrence policy
Option #2 - 25,000 Surety Bond
Option #3 - Claims Made policy like FREA's and a $12,500 surety bond.
Option #4 - assigned account, held by the department.
Nice way to "license" home inspectors in Washington.
Have a great day!

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Sincerely,
Chris Butler
(Former) Director of Membership @ FREA
chris_butler32@yahoo.com

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Originally Posted By: jonofrey
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I would have voted but the poll expired.

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Inspection Nirvana!

We're NACHI. Get over it.

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Originally Posted By: escanlan
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John O.,


You can still throw 2 cents into the pot and provide us with your opinion. Here is another angle for you. Because we are so heavily regulated in Texas why are our E&O rates so high? It would be interesting to know how many claims actually are made in Texas Vs. how many are insured?

Mr. Butler,

Any statistics available on Texas?

Emmanuel Scanlan

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Originally Posted By: jonofrey
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escanlan wrote:

John O., You can still throw 2 cents into the pot and provide us with your opinion.

I think everyone should buy E&O insurance.  After all, insurance companies make sure you are knowledgeable, conscientious, competent, and will do a damn good job! When a problem arises, the insurance company gets face to face with the client right away to make sure the problem is resolved. Right? Umm, or do you do that all on your own?

Hey! You asked. 

The loneliest people at Inspection World in Austin were the people in the E & O booths. Sorry Mr. Butler. 

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Inspection Nirvana!

We're NACHI. Get over it.

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Originally Posted By: Blaine Wiley
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Quote:

After all, insurance companies make sure you are knowledgeable, conscientious, competent, and will do a damn good job! When a problem arises, the insurance company gets face to face with the client right away to make sure the problem is resolved.

Your check is in the mail and the government is here to help you. The IRS only takes their fair share, and Bill Clinton didn't inhale.

I just came from a meeting of home inspectors who are licensed in my county (not just a business license either). None carry E&O, and to a man they all feel that if you carry E&O you are much more likely to be sued, as you are perceived as having deep pockets.

I am pondering all of this carefully.

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Originally Posted By: escanlan
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Quote:

I think everyone should buy E&O insurance. After all, insurance companies make sure you are knowledgeable, conscientious, competent, and will do a damn good job! When a problem arises, the insurance company gets face to face with the client right away to make sure the problem is resolved. Right? Umm, or do you do that all on your own?

As my wife's family would say "BadaBing BadaBoom" you got me!!! 
The wife's side are from "FuggetaBoutIt Land" (2 Uncles on the wrong side of justice, really!).

Emmanuel Scanlan

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Originally Posted By: cbutler
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Mr. Onofrey,


HAHAHA…


classic…


that is all I can say…


wish you were here 10 minutes ago…


don’t know when you stopped by…


but we were busy the whole show and did more business than last year’s IW in NM with more people…


lots of people leaving the competitors…


sorry I missed you…


and sorry I missed you when I bought the bar a round of drinks as well…


next time introduce yourself and we have a Texas chat…


red drum and shiner bock…


Have a good evening!

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Sincerely,


Chris Butler


(Former) Director of Membership @ FREA


chris_butler32@yahoo.com

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Originally Posted By: jonofrey
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Chris,


I see your taking lessons from Nick on spin!!! 

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Inspection Nirvana!

We're NACHI. Get over it.

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Originally Posted By: fmagdefrau
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WTF,right John


Frank

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Originally Posted By: fmagdefrau
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Chris you buying around in Orlando ?


Frank

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