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Thread: E and O

  1. #1
    mathew stouffer's Avatar
    mathew stouffer Guest

    Default E and O

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

    NHIE Practice Exam

  2. #2
    Join Date
    Sep 2008
    Location
    so so, California
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    1,769

    Default Re: E and O

    The kind you never have to use..

    The MAZZA INSPECTION GROUP
    www.mazzainspections.com
    Level III Thermo-picture-taker-er...er

  3. #3

    Default Re: E and O

    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.


  4. #4
    Join Date
    Sep 2008
    Location
    so so, California
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    1,769

    Default Re: E and O

    Hey Matt, you talking about companies or coverage?

    The MAZZA INSPECTION GROUP
    www.mazzainspections.com
    Level III Thermo-picture-taker-er...er

  5. #5
    Join Date
    Feb 2009
    Location
    Southern Vancouver Island
    Posts
    4,549

    Default Re: E and O

    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.

    John Kogel, RHI, BC HI Lic #47455
    www.allsafehome.ca

  6. #6
    mathew stouffer's Avatar
    mathew stouffer Guest

    Default Re: E and O

    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


  7. #7
    Join Date
    Mar 2007
    Location
    Spring Hill (Nashville), TN
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    5,847

    Default Re: E and O

    Quote Originally Posted by mathew stouffer View Post
    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.

    Scott Patterson, ACI
    Spring Hill, TN
    www.traceinspections.com

  8. #8
    Join Date
    Mar 2007
    Location
    Mesa AZ
    Posts
    1,181

    Default Re: E and O

    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.

    Phoenix AZ Resale Home, Mobile Home, New Home Warranty Inspections. ASHI Certified Inspector #206929 Arizona Certified Inspector # 38440
    www.inspectaz.com

  9. #9
    Join Date
    May 2010
    Location
    Durant, OK
    Posts
    117

    Default Re: E and O

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

    An ounce of prevention is worth a pound of cure
    Jubilee Home Inspections

  10. #10
    Daniel Mosier's Avatar
    Daniel Mosier Guest

    Smile Re: E and O

    Quote Originally Posted by mathew stouffer View Post
    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.


  11. #11
    Join Date
    Mar 2007
    Location
    Spring Hill (Nashville), TN
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    Default Re: E and O

    Quote Originally Posted by Dub Smith View Post
    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.

    Scott Patterson, ACI
    Spring Hill, TN
    www.traceinspections.com

  12. #12
    Emily Wiggins's Avatar
    Emily Wiggins Guest

    Default Re: E and O

    InsuranceBee are good, can get quotes online as well - Professional Liability | Errors and Omissions Insurance from InsuranceBee


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