I have an issue with E&O insurance.
Have you all read the insurance companies requirements carefully?
Do you really think your insured?
The companies seem to think that if you can not produce the PRE-Inspection agreement then guess what … Your not insured!
How about if you change insurance companies? What just happened to your insurance on the inspections you just did?
Do you think your insured?
How about this scenario:
Your client is from out of state, or can not be at the inspection. Are you insured? I seriously doubt it.
How about if you change jobs and decide not to be an inspector anymore.
Are you insured on the inspections you completed while having insurance with the company?
I doubt it.
So,you do inspections for years, and carry E&O insurance. Then you decide to change insurance companies or retire from being an inspector. So do you continue your old E&O insurance with the company? Of-course not.
Then to your surprise, a year later your in need of the insurance. Do you think your covered. NO.
I have not had this problem, but want to warn you,:
THIS COULD HAPPEN TO YOU.
As a matter of fact, if you loose the PRE_Inspection agreement.
GUESS WHAT !!!
For Warned is for Armed.