Hello, everybody, I pass my Florida state exam with a nice score of 88 but now I need help finding liability insurance before Florida gives me the license.
As a home inspector. I haven’t made any money yet so in order to get my Florida state license, I need 300,000 liability insurance
my question is who gives the best rates and where is a good place to start,
your advice on how to kick start your home inspection business?
thank you all for any advice bless you all ty
GL insurance is cheap, but you will get dinged for not already having it as you are new.
Don’t waste too much time researching it. Call your agent for your car insurance and get a policy through them if they offer it. Next year, start shopping around a month prior to renewal. You should get a slightly better rate, but like I said, it’s already cheap, so don’t expect too much of a discount.
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I would also consider E&O insurance. And NACHI is a great place to start.
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sounds good but price right now is important because with little revenue means shopping around is really your best shot it seems.
I see any were from 50.00 per month to 100s so when ur on the bottom best to shop around! but I will check it out ty
There’s a saying about insurance…
"If you can’t afford it, you definitely can’t afford not to have it.
But I do understand where you are coming from.
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What exactly are you getting quoted for? You need to be very specific with what you ask for.
Now, I’m hardly a newbie, (25+ years, ZERO claims), but I carry $3,000,000 G&L for Commercial and Residential, and I only pay a few hundred a year.
Obviously as a newbie home inspector I won’t get the same price quote as yourself but what I’m asking is where would I go to shop for these prices that you’re quoting there’s an extreme difference in quotes I hear so I figured ask the professionals they may know best .
I’ve been in construction for 25 something years I currently take care of about 30 properties so I’ve been doing this all of my life but now that I’m up in my later years like most of us I decided to do home inspection with that being said since I’m creating no revenue in home inspection right now and being I don’t make a whole lot of money I’m trying to get something that’s a little not too expensive to start and build on it and as I grow obviously you add to that insurance
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If you are simply asking for “Liability”, they will quote you on the most expensive type they offer!
Shazamm! I only carry one mil. I’ve been in business 23 years with no claims and pay way more than that. I have InterNACHI’s insurance now and it is the best deal for the coverage that I’ve found.
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I used to carry one mil also, until a large commercial property required three mil. You would be surprised how little difference the jump from one to three really was, so I just stay with the three mil going forward (until another change is required).
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I went from $300,000 to $1,000,000 and I think the price difference was $10.They don’t tell you this unless you ask.
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What insurance company do you use? Most companies wont cover home inspectors.
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That’s who I use, thanks Marc.
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Most home inspectors here in Florida have found the following to be the lowest cost
InspectorPro or InerNACHI both have good insurance and good rates that are geared to the Home Inspection Business for both GL and E&O.