What Protections Do Residential Home Inspector Insurance Policies Offer?
There are several different coverages that a residential home inspector insurance policy may provide and inspectors may want. A few common coverages include:
Some policies may offer other coverages as well. An insurance agent who specializes in this type of policy can help inspectors decide which coverages they want.
What Should Home Inspectors Look for in Errors and Omissions Coverage?
E&O coverage, as it’s often abbreviated, is widely used across professionals but often tailored to a particular profession. Thus, E&O coverage that’s suitable for another professional probably isn’t right for a home inspector. Inspectors should seek out coverage that’s adjusted to mitigate against the risks they face.
Specifically, home inspectors should make sure whatever E&O coverage they ultimately choose insures all the inspections they perform. Depending on what services an inspector offers, this coverage may need to include inspections for:
- General purposes
- Lead paint
- Septic and sewer systems
- Pools and spas
- Mold presence
- Water purification systems
- Termite damage
An agent can help inspectors check the E&O coverage of any policy they’re considering.
Should Home Inspectors Get Policies That Charge Per Inspection to Save Money?
While home inspector policies that charge by the inspection can seem like an affordable way to get started in the field, these policies don’t always provide all the same protections that standard home inspector policies do. Before getting one of these policies, inspectors should meet with an insurance agent to see whether the savings that a non-standard policy offers comes with significant sacrifices in coverage.
How Can Inspectors in Massachusetts Get Home Inspector Insurance?
For help finding home inspector insurance in Massachusetts, contact the experienced agents at The Feingold Companies. Our agents can request quotes from several insurers on your behalf and then, they’ll go through each of the options with you. With an agent’s help, you can be confident that you have all of the protections you need.
