HOME INSPECTORS

MISTAKES HAPPEN.

Professional liability claims against home inspectors average $27,640.

Today’s home inspectors are more exposed than ever as people rely on their services when not only buying residential and commercial properties but often after severe weather events like floods and hurricanes. In addition to visually inspecting the structure and components of a property, inspectors increasingly perform a diverse array of specialty services including testing and inspections for radon, indoor air quality, toxic mold, septic and water systems, energy efficiency, and swimming pools and spas. New technologies such as thermal imaging and the use of drones add increasing complexities as well.

Many claims against home inspectors are preventable, but human beings make mistakes—and even lawsuits that have no merit must be defended. Inspectors, who often feel safe from lawsuits with a clause in their contract limiting damages to the fee paid, can be caught off guard when courts rule otherwise awarding substantial damages to the property owner.

For more than a decade, Business Risk Partners has been a leading provider of professional liability insurance (also called E&O or Errors and Omissions insurance) combined, optionally, with CGL (Commercial General Liability) insurance for home inspectors. Our combo policy not only provides protection against lawsuits for professional negligence but also claims against the home inspector for property damage and bodily injury. Better yet, our comprehensive coverage is backed by the financial strength and stability at Lloyd’s of London, an international leader in the insurance industry. Along with BRP’s excellent customer service, we also offer special discounts for members of the industry’s various trade associations, including The American Society of Home Inspectors (ASHI).

our product

BRP’s Home Inspectors E&O facility provides extensive protection for home inspectors nationwide on a non-admitted basis for all size firms.  Policy limit capacity of up to $3 million per claim and $3 million in the aggregate is available with deductibles starting at $2500. For convenience, under our Property Inspection Insurance (PII) Program, we offer 2-tier quoting options, PRO and PRO PLUS. Details on both options along with policy highlights are as follows:

PII PRO:

  • Commercial Inspections – Up to 50,000 square feet
  • Air Quality – Not Included
  • EIFS/Stucco – Not Included
  • Commercial General Liability – Not Included

PII PRO PLUS:

  • Commercial Inspections – Up to 150,000 square feet
  • Air Quality – Included
  • EIFS/Stucco – Included
  • Commercial General Liability – Included

Professional Liability Highlights

  • Coverage extensions include lead paint, termite, and radon inspections
  • 50% deductible credit for mediated claims
  • Personal injury coverage protects against libel/slander
  • Spousal coverage extension
  • Administrative proceeding cover to provide legal protection to licensing boards or governmental bodies
  • Optional inspection riders for mold indemnity, pool/spa, and septic
  • Minimum retention starting at $2,500
  • Policy limit options from $100K to $2MM
  • No minimum earned premium requirement in the event of cancellation
  • Toll Free Risk Management Hotline where the Insured receives two free hours of risk management advice! We’ll even review contracts!
  • Up to 10% discount for members of The American Society of Home Inspectors (ASHI). Special discounts also available for members of other trade associations.

Commercial General Liability (CGL) Highlights

  • Cover costs to respond to a claim that the home inspector caused property damage or bodily injury
  • Stand alone or shared limit option
  • Deductible is the same as the Professional Liability deductible
  • Premiums starting at $320

PLEASE NOTE: This list is solely intended to be a summary of policy coverage. Please reference the actual policy for specific terms and conditions. The policy supersedes all representations made above.

Our appetite

We welcome submissions for home inspectors from large firms employing multiple inspectors to sole proprietors. There’s no minimum revenue threshold.
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COMPLEMENTARY COVERAGES:

CLAIMS SCENARIO:

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$103,000 mistakes happen.
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