FREA announced an EXCLUSIVE deal for Certified Master Inspectors today. Due to the superior experience, education and commitment of Certified Master Inspectors (the home inspection industry’s highest ranked professionals)… all Error and Omissions insurance deductibles will be dropped to ZERO for all Certified Master Inspectors in the U.S. and Canada, at no charge to the Certified Master Inspector (CMI), effective immediately. This is an EXCLUSIVE benefit to CMIs, not available to any other inspectors anywhere, as CMIs and only CMIs deserve it.
Many thanks to Michael Rowan, President of the Master Inspector Certification Board and Nigel Bonny, General Counsel for FREA who met today in Boulder, Colorado to hammer out this exclusive CMI benefit.
This is an interesting offer. A main complaint of inspectors is paying a deductible when a settlement is made in which the inspector feels they are innocent. It allows the insurance company to operate cost effectively and the inspector to be treated fairly (providing they are not dropped for “cost efficiency” settlements). Another benefit of FREA is their assistance in dispute resolution without filing a claim. It allows the inspector to settle minor claims with an unhappy client under FREA supervision without penalty to the group premium or loss of coverage.
I am a little confused in that this FREA offer seems to conflict a bit with NACHI’s endorsed provider. Will the NACHI insurance also drop the deductible and do they allow inspectors to settle small claims like FREA?
Michael and I have some other exclusive benefits coming soon too. This one could only be acquired for CMIs because the underwriter would only give this deal to CMIs, no one else.
I’ve already come up with another way to exploit CMI for marketing purposes: Call yourself a no-deductible inspector… which means that the quality of your inspection service is so high that, unlike other inspectors, your E&O insurance company gives you a zero deductible.
This would be used if you have E&O insurance and are competing with inspectors who don’t or who do but don’t have a zero deductible.
John, I’d do it if an agent or a potential client asked me if I carried E&O insurance. Once you say yes, that you are insured, the toothpaste is out of tube… so you might as well exploit it to get the job and to argue for higher fees.
