Inspector Insurance

I need to renew my GL and E&O HI Insurance. Can anybody please refer me to a company that is cheaper than what I had last year?

General Liability and Error and Omissions coverage was $500,000/$500,000 with a $2,500 deductable, this price included coverage for mold/termite and radon. Lead and cabon dioxide coverage was added shortly after I obtained this policy last August.

Drop the “Carbon Dioxide” coverage. You’re not operating a “soda fountain” are you?

You didn’t state what you paid for the coverage, so no one can answer the question.

“Hope that helped” :shock::wink:

Hello Gregg,
Check out: www.greia.org

Insurance required for FL cost me $496

Contact: Carrie Lawson - carrie@grei.biz

Please let me know if you find a less expensive policy, mine is due for renewal in Sept.

Charles Segal
hshi09@att.net

[quote=“csegal, post:3, topic:61317”]

Hello Gregg,
Check out: www.greia.org

Insurance required for FL cost me $496

Contact: Carrie Lawson - carrie@grei.biz

Please let me know if you find a less expensive policy, mine is due for renewal in Sept.

Charles

You have to be selling insurance Charles. You are trying to find a cheaper rate than $500?

this price included coverage for mold/termite and radon. Lead and cabon dioxide coverage was added shortly after I obtained this policy last August.

I’m confused, if you are not certified for radon and don’t have a mold assessor license, why carry insurance for mold and radon?

My experience over the years is any mold insurance that cost less than $2500, for one inspector, isn’t worth the paper they print it on.

Believe it or not I was asked to conduct a Radon test here. My Premium for this coverage was $2,028.

Greg, I didn’t see your name on the DOH website, but they don’t update it that often.

Thousands of homes in Florida have elevated radon levels.
The person that places and picks up the radon test must be certified by the FL DOH to do so. The REPORT must come from a FL DOH certified Radon Measurement Business (example: WallRadon Testing Inc. RB1938)

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Consumers should hire FL Licensed Mold Assessors, FL Licensed Home Inspectors and FL DOH Certified Radon Measurement Businesses and FL DOH Certified Measurement Technicians.

Mold Insurance:
The real difference is in the coverage. There are many “new” policies on the market, as we expected there to be once the Florida law passed. I have not looked at all of these policies but do know that all reputable carriers that have experience writing environmental consultants and contractors have a minimum premium of $2500. It goes up from there based on risk and revenue.

A few of the policies I have seen on the market are flat rate policies, meaning every company pays the same amount. This is likely what you are being presented if they are phone quoting you. These policies are usually not very good. You have to ask why would a carrier charge the same to a company that does $50,000 a year as a company that does $500,000 a year. Just by pure work volume the carriers assumes more risk with the larger company. The reason they would charge the same is that there is no coverage in the policy, so the carrier is not worried about paying a claim.

Things to ask when getting quotes, does the quote include:

  • Broad Form General Liability Coverage
  • Broad From Professional Liability (E&O)
  • Microbial Consulting Coverage
  • Blanket CG 20 10 Additional Insured Endorsement
  • Blanket CG 20 37 Additional Insured Endorsement
  • Primary Non Contributory Wording
  • Waiver of Subrogation
  • Completed Operations Coverage

I have attached a article written about a Lloyds policy that was pulled from the market a couple of years back, but is now being promoted again since insurance is required. This is written by independent counsel.
Brian Mcfarland
Legends Environmental Insurance

Hi Greg! Schuyler Hellings is your man… he will be at our conference in October and you can speak to him personally. He provides great service and great rates to InterNACHI members. His contact info is:

Schuyler W. Hellings
Account Executive
Home Inspection General Liability / E&O Specialist

CH Insurance Brokerage Services
"[FONT=&quot]Commitment to Performance"[/FONT]
** 100 Madison St. Suite 100**
** Syracuse, NY 13202**

315-234-7500 Direct 315-552-5343
Toll Free 888-400-8087
Cell 315-439-3496
Fax 315-234-7508
shellings@chinsurance.cc
www.chinsurance.cc/homeinspectors
Home Inspectors, see me @ www.nachi.tv/episode20

Wow - Schuyler W. Hellings
quoted me $2000 for 1,000,000/1,000,000 GL and E&O with a $2500 deductable.

What kind of policy are you guys getting for $500?

Douglas - Thanks for the heads up on the Radon, I did not know you had to register. I was under the impression the IAC certification was enough.

They’re just getting GL for $500.

Okay, after comparing quotes from all local providers and the ones listed in this post, the best coverage and price was my current provider Naplia www.naplia.com

$2024.95 for $500,000/$500,000 GL and E&O with the following endorsements -

  • Real Estate Agent Endorsement
  • Mold Testing
  • Lead Testing
  • Radon Testing
  • Wind Mitigation Inspections

Also retroed back all inspections completed in 2010.