Originally Posted By: aslimack This post was automatically imported from our archived forum.
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.
Originally Posted By: jcampbell This post was automatically imported from our archived forum.
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…
Originally Posted By: jrooff This post was automatically imported from our archived forum.
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.
Originally Posted By: Blaine Wiley This post was automatically imported from our archived forum.
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!!
Originally Posted By: dedwards This post was automatically imported from our archived forum.
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.
Originally Posted By: djohnsen This post was automatically imported from our archived forum.
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? :
Originally Posted By: cbutler This post was automatically imported from our archived forum.
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!
Originally Posted By: escanlan This post was automatically imported from our archived forum.
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?
Originally Posted By: jonofrey This post was automatically imported from our archived forum.
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. 
Originally Posted By: Blaine Wiley This post was automatically imported from our archived forum.
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.
Originally Posted By: escanlan This post was automatically imported from our archived forum.
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!).
