Get a free, instant quote: Insurance for Home Inspectors - Errors & Omissions, General Liability - InterNACHI®
Great, thank you for doing this!
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Shall I guess, still not available in Canada, like the Ford discount, even though you are interNACHI.
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You’ll have to do the math and determine risk vs. reward. Premiums will go up with a move to zero deductible policy.
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I don’t see how they can’t. Inspectors will turn in claims even for the little things. That means more admin time, even if they don’t payout on the claim.
Still not available in Canada!
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…and never will be!
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I actually spoke with them this week to confirm. Told them I will want to see a side by side comparison of the zero deductible plan and my current plan. It will be a great product for some, but I may stay with my deductible.
Who are you with now?
Elite. Been with them for 5 years. Great team and easy to work with. Joe Denneler has coached us through a couple of frisky clients and helped squash it before a claim was necessary. I will have the option of staying with my current plan design or moving to the zero deductible.
Oh, I didn’t realize we had a choice. I’m with Elite and renewed earlier this month and they didn’t send me an option with or without a deductible.
Edit: Ok, I see now that “Zero Deductible” is an option, not a standard part of Elite’s offering. When I renewed, the “Zero Deductible” was not listed in my options, but maybe it wasn’t implemented yet?
So how much higher premium was the zero deductible option?
Didn’t share. I’m not up until March, so that is when I’ll see the #’s
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Honestly, I forgot all about the zero deductible thing when I filled out my renewal application earlier this month. But I just went back and looked at my application, and there was no option for zero deductible.
The way all of Nick’s posts on the subject have been worded, it didn’t seem like it was going to be an option you could choose. It sounded more like just how everyone’s policy was going to be?
For instance, how would you interpret this post?
I agree. It’s confusing. That’s why I called this week to talk through it. Honestly, I’m leaning towards keeping the deductible and hold my premiums down. I bank for the deductibles any way and have reserves for that. But, I’m not decided until I can see some quotes.
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You can always keep your existing policy.
And a lot of the inspectors we’ve been insuring already have zero deductible with us or are close to having it anyway… because we’ve had vanishing deductible since we launched the company.
Because of our really good claim-handling history, we are basically able to turn our current vanishing deductible to immediately zero deductible.
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So, I just renewed a few weeks ago. I didn’t have an option for zero deductible? I will admit, insurance confuses me, lol.
I recall hearing someone saying something like this before.
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Correct, we launched zero deductible at the Convention last week.
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