Hi InspectionNews Members!

Stephanie here with InspectorPro Insurance. We've been putting out a bunch of educational material for home inspectors, and we'd love to share it with you. You don't have to be insured with us (or insured at all) to benefit from most of the articles, which focus on risk management and business growth. Find an excerpt from our most recent article below. I'll make a point to post excerpts and links to the articles more in the future.

Enjoy!


How to protect your business when you refer clients to outside inspectors or contractors


Try as you may, you can’t always be a one-stop shop. Maybe your inspection business is still small, so you don’t offer many additional services beyond the basic inspection. Or maybe your client needs something that goes beyond the Standard of Practice (SOP). Regardless, if you’re unable to meet a client’s needs in-house, you’re likely to refer them to someone else.

But did you know that referring clients to other businesses incorrectly could put you at unnecessary risk?


Learn how additional insured endorsements can protect your inspection business from claims against the companies to whom you’re referring business.


What’s an additional insured endorsement?

When you refer business to another company, you expect them to perform quality services for your clients. But what if the business who received your referral made a mistake or performed poorly? If the client went so far as to file a claim against them, what’s stopping them from blaming you, too, for making a bad recommendation?

That’s where an additional insured endorsement comes in.

Whenever there’s an additional insured endorsement, there are two parties at play: the additional insured and the named insured.

READ MORE

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