Hi everyone, new member/insector here. Im located just outise Toronto,Ontario and as im getting ready to go live with my inspection business im getting quotes for insurance that is honestly shockingly high, im talking $4500.00/premium. Does anyone have any tips or suggesiton for a newbie? Appreciate any help!
Cary
i think i pay ~$1500 in wv for internachi insurance with e&o. that sounds like i’d be doing something else that didn’t require insurance if i had to pay that. good luck with it.
Here in Ohio, I just renewed for $1300.00 with Internachi Insurance. Of course, you are in Canada so rates may be different there. Keep shopping. Maybe some of our Canadian members can provide some suggestions.
Right! Thats what I was thinking too!
Unfortunately InterNACHI does not have any Canadian discounts for insurance (unless Im mistaken). Hopefully some of the Canadians can offer some advice, thanks for the responses!
That was out rates in the US about 10-15 years ago. Newbies were commonly up to about $5,800.
Canada is still where you have been quoted… about $4,500… and one problem being that there are few companies to purchase from.
Go through the archives of the Canadian threads. You may find some useful information there. Talking on the general MB, (USA), you will find very little relating to Canadian insurance companies and costs.
Remember… different countries, different laws!!
Thanks for the info, I will do some digging through the Canadian threads!
There are very limited insurance providers for HI’s in Canada, so the rate is what it is and will probably only go up from there.
The more you make the more they take!
Thanks for the feedback, sounds like im just going to have to take my medicine! Its a little daunting once you start crunching numbers, the amount of inspections needed to make a go of this just keeps going up at around $500/inspection, going to be tough I think?