E and O

mathew stouffer · 10-12-2011, 06:17 AM

What is the preferred E and O insurance? I have mixed results with several.

**Marc M** · 10-12-2011, 07:32 AM

The kind you never have to use..

**Ben Garrison** · 10-12-2011, 01:23 PM

Depends on what is important to you... You can find it for pretty cheap, just don't expect it to stay cheap for years to come or provide you with a lot of coverage.

**Marc M** · 10-12-2011, 01:24 PM

Hey Matt, you talking about companies or coverage?

**John Kogel** · 10-12-2011, 04:01 PM

While you're waiting for some names of reputable insurance providers

, let me tell you'all about the plan I use. I'm not selling, it is only available to members of CAHPI.
Here in BC, the give or take 240 association members of CAHPI(BC) can sign up for our association's own Legal Benefits Plan, which covers us for $1M/year E&O for a cost of about $3G/year/member. Since 2004, the cost has gone down and will continue to go down. We are banking the money and not paying it out, just like the insurance companies do. We have a lawyer on a retainer who has been with the plan since day one. Because he works for us to protect our investments, there are no frivolous payouts. Nil. There will be no penalty if you ever need to settle a claim. The LBP is available to CAHPI members outside of BC as well.
I believe it is the best E&O plan on the planet.

mathew stouffer · 10-13-2011, 02:24 PM

Providers. That is what I am looking for. I let mine expire but now I have a guy working for me so I need to get him on a plan

**Scott Patterson** · 10-13-2011, 05:44 PM

Originally Posted by mathew stouffer

What is the preferred E and O insurance? I have mixed results with several.

I use a broker who shopped around for the best coverage to meet my specific needs. Most of the common E&O coverage that we see is pretty much a one size fits all, even though you might need a larger size to be comfortable.

Give Capitol Risk Specialist a call and see what Niccole can do for you, you might be surprised with what she can find for you. I think she can shop around 4-5 insurers.

**Dan Harris** · 10-13-2011, 06:35 PM

Ditto with what Scott said.
I've been with them for 3 years now Nicole will work to get the best policy for you, and explaind the different companies/options.

**Dub Smith** · 10-14-2011, 12:45 PM

What is the contact information for Nicole @ Capitol Risk Specialists? Email and phone if you have it handy.

Daniel Mosier · 10-14-2011, 11:29 PM

Originally Posted by mathew stouffer

What is the preferred E and O insurance? I have mixed results with several.

When I first started it was VERY hard to get insurance because most of the insurance agencies I contacted will not insure someone who is a new inspector. I went with First Indemnity.
The agent was very knowledgeable about the home inspection business because he only insures home inspectors. He gave me several ideas I incorporated into my inspections immediately. I received coverage of $500,000 general and $500,000 professional (E & O) for $2300 per year.
Tennesse requires $500,000 for general. Professional is also required but no minimum is stated. The recommended minimum is $100,000. Buying $500,000 general and $100,000 from separate companies would have cost $2100 per year. I figured an extra $400,000 in coverage for just $200 per year more was worth the difference.
I know my response is a little off the topic but I just wanted to share my experience.

**Scott Patterson** · 10-15-2011, 08:36 AM

Originally Posted by Dub Smith

What is the contact information for Nicole @ Capitol Risk Specialists? Email and phone if you have it handy.

Contact information is on their site, go to the Home Inspector section.
CSRisks, Capitol Special Risks, Professional Liability Insurance
They also offer a discount if you have passed the NHIE.