Originally Posted By: Jeffrey Fox This post was automatically imported from our archived forum.
Did the agent give you the 120 questions routine?? I had to have a copy of my membership, one of the contract i’m gonna use, one of the report i’m using, my letterhead and a written resume of my training and experience. I felt like i was on trial trying to get out of a murder.
Originally Posted By: mhenderson This post was automatically imported from our archived forum.
Jeff,
went thru all the 20 questions too,but heres the kicker,my insurance rates went up 350 dollars from last year with NO CLAIMS & they blamed it all on 911 & terrorist acts.I asked her in writing to please elaborate & justify why my rates went up & whats that got to do with me…that was in October…I still havent got a reply yet...just statements on the increase..what a racket huh?Im insured thru “Lloyd`s of London”.
Originally Posted By: mmazzitello This post was automatically imported from our archived forum.
Seemed pretty painless to me. I am dealing with a group called Diversified out of Waukesha Wisconsin.
They have a special program for new home inspectors where you get a $2-Mil E&O, 1-Mil liability with a $1000-ded for $2188/year or $172/mo.
No torture, no pain, just pay money.....and they like those have graduated from the Amer. Home Inspe Trng Institute and passed all the tests...NHIE, state exam and are licensed.
Originally Posted By: dbush This post was automatically imported from our archived forum.
Michael, you got me all excited - then I called them and they told me that although they are licensed to do business in Missouri, that program was not available here. Thanks for the possibility though.
Originally Posted By: sfrank This post was automatically imported from our archived forum.
Just wanted to let you all know, I checked out Diversified Insurance today and they are only licensed to write insurance in Wisconsin, Minnesota and Illinois.
I also am having trouble finding an insurance co. to write E & O ins. with higher limits like 1 million / 2 million vs the 100k / 500k required by PA. I just faxed an outfit in the Pittsburgh area and will let you know what I find out.
Until then if anybody has any suggestions on that matter please reply.
Originally Posted By: sfrank This post was automatically imported from our archived forum.
Thanks Joe, I did get a quote from Griffith. They will only write the minimum req’d. in PA. I personally don’t think that’s enough and if you want to get on Coldwell Bankers “Preferred List” you have to carry 1m.
Originally Posted By: jmyers This post was automatically imported from our archived forum.
Scott,
You may find that you are working at getting on that list for nothing. Most of the agents that I know don't use those preferred vendors they already have people they like to use. You could try direct marketing to the agents in those offices which I consider much cost effective than paying monies to be placed on those lists.
Originally Posted By: sfrank This post was automatically imported from our archived forum.
Thanks Joe and Joe, sounds like good advise. I’m more concerned with protecting my ASSets than getting on their list though. $100,000.00 isn’t much by todays standards and incorporating won’t protect you if they find you (the inspector) negligent, so the only alternative is to carry lots of insurance. I currently carry 1m / 2m in my contracting business which I feel is adequate, there must be a company out there that will write more than the minimum req’d. in PA I would think.
Originally Posted By: jmyers This post was automatically imported from our archived forum.
Scott,
If you have that much in assests in your name no amount of insurance is going to save them. You should go buy a few assest protection books and then contact a good attorney! Sometimes you just have to give it away in order to keep it.
Originally Posted By: sfrank This post was automatically imported from our archived forum.
Thanks again Joe. It’s not that I have a ton of assets, just that I’d like to keep what I have if you know what I mean. Listening to everybody talk about c.y.a. and seeing how all of the contracts and reports are written it sounds like getting sued in this business is a very real possibility. You seem to know what’s going on, is it a big problem for Inspectors?
FREA does offer more insurance coverage than Griffith, know anything about them?
Originally Posted By: jfarsetta This post was automatically imported from our archived forum.
FREA is a good outfit. They have a brief instructional program in risk assessment and avoiding getting sued kind of stuff for new inspectors. The insurance is a little pricey the first year, but drops in year 2.
