Thread: Texas Inspectors - Tails Insurance

Thought hard about it last year, but decided to retire this year. Getting too old to climb in hot attics...............

Please correct me if I am mistaken, but I believe my liability only applies to 2 years after the inspection date?

Contacted a couple of insurers to get estimates on tails insurance. Kind of surprised at the expense (as much as insurance when I am inspecting).

Any advice or leads to better insurance rates?

Learned a lot from folks on this list and will miss the enjoyment I get from doing the work. Hopefully it will give some younger guys more of a chance to start their businesses.

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Tail coverage can only be bought from your current insurance company.

Tail coverage extends the time period in which you can report a claim. Your limits will be exactly the same as your current policy as will your coverages. On average, a tail policy costs any where from 100%-150% of your expiring premium. I believe FREA's tail policy may only cost 75% of your expiring premium. Again, the problem is that you can only buy tail coverage from your current provider.

Some insurance companies will give you a discount if you purchase two years at once rather than one year at a time.

Just as an FYI - tail coverage is almost always fully earned. Meaning you have to pay for it in full. You cannot finance premium.

Hope that was helpful.

Niccole is correct. You have to purchase it from whoever is currently carrying your E&O insurance. Typically paid in full and there should be various options in terms of how many years of tail insurance you can buy.