General Liability Insurance?

New York now requires general liability insurance for licensing and was wondering what kind of premiums are out there.

Louis,

I am paying approximately $600.00 a year. It covers me in NYS and PA for GL and Pesticide for doing pest inspections in pa. I called around and this is the best I could find.

Rick

I am paying 3,000.00 for the year until an audit to ajust price.

$3000 for GL? Or GL and E&O PLUS GL?

If you’re paying three grand for just GL, you’re being robbed.

I paid $600 for $1,000,000 GL my first year. It’s around $400 now. (But I also lowered the coverage.)

Dennis,

If you don’t mind spending 3,000 for GL, sent it to me. I will get you some GL Insurrance and will make a very very nice profit. Like 2600.00 for the year. That will give me a couple of nice weekend dates with the wife.

Rick

I was just quoted at $3523 . Who quoted you at $600? Could i have the number please?

Hi

Gen. liab. and E&O are two completely different things.

average for GL is 200-500
average for E&O is 2700-3500

GL is more for damage to the property such as breaking a window

E&O is like insuring your judgment ability, for example if you say
that a boiler is satisfactory and it is in need of replacment

your attorney can better help you.

Carla

the confusion might be in the fact that E&O is another term for Professional Liability which is different as we know than General Liability.

The name of the company, I have for GL is Dryen Mutual in Dryden, NY. My local contact is Swan & Sons 607-734-6283. The contact person is Dianna.
You can give a call, just let her know I referred you all.

Rick

After passing N.Y.S. exam I was told that G.L. is now required with min $150,000 per occurannce and $500,000 aggregate. A member has suggested to apply with Allen Ins group at www.allenins.com . If that does not work out i will apply with Dryden Mutual that Rick has suggested. Thanks to all. Regards ,Lou

Policy approved by Allen Ins. @ $570.00 per year for New York State required General Liability.Thank You all.

Every NY policy for General Liability that I have written (over 40 Inspectors to date) has been between $504 - $512. I’m listed on the website, do a search for CH Insurance and you will be brought to our listing on the NACHI site.

Hi Schuyler,

You will be a welcome addition to us in Florida.

Florida is a challenge right now and I am looking into trying to develop a specific General Liability program for the state. Finding a company to partner with is a challenge as well. I will post as soon as I have results.

General liability insurance is the LEAST important insurance that a home inspector needs. That is reflected in its price - $425.00 for $1,000,000 under the NACHI E & O program.

What you need to do as a home inspector is to address your largest liability exposure, professional liability. You can handle the broken lamps and soiled carpets out of your pocket. The missed foundation problem is another story.

Mr. Perry, what about an individual who is operating as a DBA? My $500 policy has $1 Million Hired Non Owned auto coverage. What about their contents for their business? That is often an excluded item on a Homeowners policy and may not be able to be endorsed on. What about computers? Their are limitations on Home policies or exclusions. $25,000 available on the policy I sell for $500. I respect your opinion, I look forward to a debate.

I love it in Ohio–everything is so much cheaper.
I have $1,000,000/$2,000,000 GL for $378.00 per year.

I got a better buy on E&O as well.

So Joe,
I have a question… If we use the NACHI agreement and Incorporate the business, and the state we operate in does not require any type of E&O, does the probability of being sued go down given that Hi’s are not required to have it. Due to the high cost of buying it here in New Mexico not all Hi’s carry it.
Basically I see it as a damned if you do damned if you don’t.

We carry it and become a target to get sued or take our chance with the Corporation and hope that since the E&O insurance is not in place, we are not as easy a target!

Just my musings on this issue.:shock:

Hello all the NYer Inspectors.

I am looking for an Insurance Company, who provides General Liability Insurance who does not do the auditable Insurance. Every year you go up
in the income, the insurance rates increase.

Rick Paul

Rickey, I would give Schuyler a call. The GL policy he offers is excellent. It is a customized policy that covers many different items that other co. including Dryden do not even mention.
Schuyler’s policy is also written so it is easily understandable compared to other poicies out there.
Jim…