Termites are a worst-case-scenario situation for most homeowners. They can stay well hidden and are difficult to diagnose; by the time they are found, they can already have inflicted devastating damage on a home and its integrity, plus left the inspector with a lawsuit summons and an upset client.
Importance of Termite Damage Insurance Coverage For Inspectors
Termite insurance coverage helps protect inspection professionals when disputes arise over missed damage. This can happen even if it was not visible during the Inspection, such as behind walls or underneath the floors.
Without appropriate Home Inspector Liability Insurance, your business could be severely affected by the financial implications of a claim.
E&O Insurance Coverage for Termite Inspections
Our program offers a unique endorsement just for this termite inspection service. If your home inspection business offers termite, WDI inspections, you MUST have this endorsement on your policy to properly protect yourselves and your companies. Termite inspection insurance coverage is designed to respond to claims involving “Termite or other Wood Destroying Insect Inspection Services”. EliteMGA’s insurance for home inspectors includes $100,000 coverage for Termites. In addition to having E&O and General Liability for termite inspections, many states require a bond too. If you need a bond, please click here.
Understanding Home Inspection Insurance Cost
Home inspection insurance cost depends on:
- Business size.
- Claims history.
- Coverage limits.
- State requirements.
- Whether termite inspections are included in services.
Adding termite-related exposure may influence premiums, but the protection far outweighs the risk of operating uninsured.
Five Ways Home Inspectors Search for Termites
1. Check for winged ants
Termites are easily mistaken for winged ants because they’re similar in size. You can tell the difference because winged ants have bent antennae, whereas termites have straight ones.
2. Check for mud tunnels
This is the most common sign that a home might have termites. Check around the foundation of a home, in the attic, and near pipes for this warning sign.
3. Check for mud in joints
Termites like to seal small holes and gaps with mud, including those found around construction joints and screws.
4. Check for the presence of wood near the foundation
It may sound silly, but things like mulch, firewood, and wood fencing within several feet of the home’s foundation can be a great place for termites to hang out. It’s always a good idea to check these areas during an inspection if you suspect they might be an ideal place for termites to live.
5. Check for wood damage
You may not see surface damage on wood surfaces because termites like to destroy from the inside out. You can tell by the sound, though, if a panel of wood is hollow, which is a good indicator of termites. The wood also might show long, tunnel-like grooves.
Get Termite Insurance Coverage Today for Your Home Inspectors Business
By working with EliteMGA, you can ensure that you have proper coverage for the services you provide. Give us a call today to discuss adding this endorsement to your policy. Or if you don’t have coverage with EliteMGA yet, please apply here.
