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  1. #1

    Default Inspector Insurance

    Can anybody direct me to an insurance company that covers liability if I were to start a company? It would have to be substancial coverage for the industrial facility I am responsible for.

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    Inspection Referral

  2. #2
    Join Date
    Feb 2008
    Location
    Caledon, Ontario
    Posts
    5,005

    Default Re: Inspector Insurance

    Its customary to list your location.

    Are you in the USA, Canada, Hawaii, Alaska....?


  3. #3

    Default Re: Inspector Insurance

    Texas USA


  4. #4
    Join Date
    Mar 2007
    Location
    Plano, Texas
    Posts
    4,170

    Default Re: Inspector Insurance

    Virtually any insurance agency can handle that for you. The first thing is to narrow down what kind of insurance you want and what you do. Professional liability and general liability are two totally different animals with substantially different prices and purposes.
    General liability covers the clients property from damage caused by you.
    i.e. you blow up the building when lighting a pilot light, fall through the roof, etc.

    Professional covers the client from damage caused by your negligence in your reporting.
    i.e. you miss a rotted out beam and fail to report on it when your client is purchasing the property.
    Also called errors and omissions insurance.

    Jim Luttrall
    www.MrInspector.net
    Plano, Texas

  5. #5

    Default Re: Inspector Insurance

    Quote Originally Posted by Jim Luttrall View Post
    Virtually any insurance agency can handle that for you. The first thing is to narrow down what kind of insurance you want and what you do. Professional liability and general liability are two totally different animals with substantially different prices and purposes.
    General liability covers the clients property from damage caused by you.
    i.e. you blow up the building when lighting a pilot light, fall through the roof, etc.

    Professional covers the client from damage caused by your negligence in your reporting.
    i.e. you miss a rotted out beam and fail to report on it when your client is purchasing the property.
    Also called errors and omissions insurance.
    So I miss something during an inspection of a project I am watching and sign off on it with my Master/ICC certification creditials. Somewhere down the road a malfunction occurs due to say the wrong lugs being used and a major shutdown occurs causing an evacuation and several millions in production loss. This would be Professional Liability coverage? Where do I sign?wr

    - - - Updated - - -

    Quote Originally Posted by Jim Luttrall View Post
    Virtually any insurance agency can handle that for you. The first thing is to narrow down what kind of insurance you want and what you do. Professional liability and general liability are two totally different animals with substantially different prices and purposes.
    General liability covers the clients property from damage caused by you.
    i.e. you blow up the building when lighting a pilot light, fall through the roof, etc.

    Professional covers the client from damage caused by your negligence in your reporting.
    i.e. you miss a rotted out beam and fail to report on it when your client is purchasing the property.
    Also called errors and omissions insurance.
    So I miss something during an inspection of a project I am watching and sign off on it with my Master/ICC certification creditials. Somewhere down the road a malfunction occurs due to say the wrong lugs being used and a major shutdown occurs causing an evacuation and several millions in production loss. This would be Professional Liability coverage? Where do I sign?rr


  6. #6
    Join Date
    Mar 2007
    Location
    Ormond Beach, Florida
    Posts
    26,248

    Default Re: Inspector Insurance

    Quote Originally Posted by Richard Robinson View Post
    So I miss something during an inspection of a project I am watching and sign off on it with my Master/ICC certification creditials. Somewhere down the road a malfunction occurs due to say the wrong lugs being used and a major shutdown occurs causing an evacuation and several millions in production loss. This would be Professional Liability coverage? Where do I sign?rr
    How much are you willing to pay for that coverage?

    The coverage is out there, but if you want to pay pennies then it will cover nickles ... if you want to cover big bucks like that the you will pay big bucks ... it is all within your choices as a business owner.

    I can get you a form right now if you want to pay millions of dollars in premiums for hundreds of dollars in coverage ... I'll create it on the computer and get the state to accept it ... after you make your first year's full premium payment.

    Jerry Peck, Construction / Litigation Consultant
    Construction Litigation Consultants, LLC ( www.ConstructionLitigationConsultants.com )
    www.AskCodeMan.com

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