Property Information Statements

Now lets use some logic .
E&0 insurance cost is $4,000;00 and you have a deductible of $5,000;00 . So you make a claim and you pay the first $5,000;00 and they pay $2,000;00 and raise your rates for the next three years because you had a claim .
Now would you pay now or pay more later?
I would do like I would do with a small car accident pay the price and evade the increase in rates or the possible cancellation of my insurance.

I agree with Roy on this.

Had the insurance company settled for the same amount of 7,000., my rates would have gone way up for three years, and I would have had to pay the 2,500. deductible regardless. I would likely be at least $ 10,000. behind and we would have a scar on our insurance record. This was paid from a tidy little fund I have for myself and my employees.

Bill Mullen

You mean the “Iron Horses” Brian!

Naw Mario… I waz referrin to a song by George Strait called Steel Horses. Besides Steel horses sounded so much politer and purtier than sayin “they waz ridin hogs” see my point?

Thanks for the info, this E/O insurance thing as i suspected is like car insurance you have to have, it but in the event of a fender bender it’s easier to just bite the bullet and pay out yourself and avoid the hassle of increased rates.


There is always the possibility the insurer would not renew your policy if you had filed a claim.


That too. We do a lot of relocation inspections and those companies require that we carry E & O. That would cost us between 100 and 150 inspections a year.

Bill Mullen


Is something like this a business deduction/write off at tax time?

I think so, but I haven’t checked with my accountant. You would hope that something that is clearly a ‘business expense’ would qualify.

Bill Mullen

Well I know that E&O premiums are deductible as a business expense, so maybe you might get some benefit from it, if you want to look at it as a benefit. :wink:

Brian I’m sorry but I don’t see your point!! I have been riding HD for a long time, I’m a member of “HOG” I know some of the boys and I have never heard of steel horses or the song!!

Mario…sorry, I mis-quoted the song, it’s called “Cowboys Like Us”.
As to HD bein called a hog, I know this. My previous post was an obviously poor attempt at humor.

"I have been riding HD for a long time, I’m a member of “HOG” "

Mario, is that why they call it “Hog Town” ?

I like to know how home inspectors can legally be held responsible for defects that have developed years after the initial inspection. The released Inspection results are supposed to be based on visual observations only - and only have to reflect the conditions as observed at the time of inspection. Most of the inspected components and equipment of a home are subject to wear and tear - and it seems reasonable to assume that the reported conditions can change at anytime.

If I would ever receive a complaint **one year **after I conducted the inspection - I would not even engage the services of a lawyer - but would defend myself. Unless I am accused of having overlooked an abandoned in-ground fuel tank - I believe that I have some valid arguments to even convince a biassed judge to see it my way. I am therefore not concerned whether one of my pre-purchase inspection reports is being used to promote the condition of the home as observed five years ago.

However - "Pre-listing Inspections" are in my view an entirely different kettle of fish.

RUDOLF REUSSE - Home Inspector since 1976 - **TORONTO

Not quite it came from all the abattoirs
A pen of hogs at the William Davies Company, circa 1920. Although the vast pork processing plants are long gone, Toronto’s nickname of “Hogtown” remains.

The name Toronto has a rich history
people who where born in Toronto pronunce it taraana.


That’s funny George!! You know that is not why!

“HOG” = Harley Owners Group

No problem my friend!!


I have news for you my friend, people that were NOT born or raised in Toronto (usually) pronounce it Taraana!!!


That’s all well and good and I’m sure you could make great arguments, as can any of us. However, the reality is that the courts have no desire to ensure fairness or justice. They just want a resolution and don’t care which pocket the money comes from. I could certainly have stuck it out and fought harder, but even if I had won, I would still likely have to pay at least $ 20,000. in legal fees plus many days away from work. Courts around here are very reluctant to award fees to defendants of court cases.

As Roy said earlier, ‘You’ve got to know when to hold them and you’ve got to know when to fold them.’

It’s a sad reality that new inspectors must be aware of.

Bill Mullen

All very good points Bill. I guess my principles would have cost me huge!!