Home Inspector E&O Insurance

EliteMGA’s Errors and Omissions Insurance for Home Inspectors

EliteMGA, powered by its own insurance carrier, EliteRE, has specially crafted its insurance product, using its years of experience insuring inspectors (and experiencing claims with its insureds) to protect the professional Home Inspector.

Starts with a foundation of Errors and Omissions

Our E&O insurance for home inspectors policy will provide your company, your employees, and you with protection against lawsuits or claims that are based on omissions or mistakes made in your inspection which resulted in financial damages for the client. The policy can even be prepared to provide protection from fees charged by attorneys or a settlement amount if you are determined to be guilty of an error or omission.

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Home Inspector Comprehensive Insurance Coverages Provided

Termite/WDI – Damage to a home caused by insects or termites that are discovered after the report is completed, this coverage can be added to extend to these services for properly trained inspectors

Commercial – Inspect a commercial building rather than a home, limitations may apply where

Radon – Testing for radon gases, whether it’s due to your device malfunctioning or some other margin of error

Lead Paint – An older home still contains lead paint in some capacity and you miss it during your inspection

Pool/Spa – A home you are inspecting has a pool or spa, and your inspection fails to uncover issues in the pool’s decks, steps, interior finish, cleaning system, diving boards, or other features

EIFS/Stucco – You inspect a home built with exterior materials that are prone to moisture, like EIFS or Stucco, and there are errors in your testing

Green Building Inspections – Inspecting for energy efficiency

Indoor Air Quality Testing – Air samples are taken in the property and sent to a lab

Infrared Thermography – Infrared technology can help you immensely with your home inspections, and these services can be added to extend to these services for properly trained inspectors

Rodent Inspections – If there is rodent damage in a home, or signs of an infestation occur after an inspection, coverage can be added to extend to these services for properly trained inspectors

Mold – Air samples are taken in the property and sent to an approved lab to determine if mold is located, coverage can be added to extend to these services for properly trained inspectors

Septic/Water Testing – Water and septic systems vary in complexity, and specific coverage can be added to extend to these services for the properly trained inspector

Discounts Given For:

Accredited Association Memberships

Education Participation

Holding Additional Licenses (electrical, contracting, plumbing, HVAC, industry-relevant)

Software Use

Technology/Equipment Use (Cameras, etc)

Group Discounts:

You have multiple inspectors? We rate 2 inspector groups for the price of 1! Your business is growing and needs cash flow? We can add all inspectors mid-term for no additional cost until renewal. Do you have a large group of inspectors? Our group rates are SENSATIONAL!

How Much Will an E&O Insurance Package by EliteMGA Cost You?

Prices for home inspector E&O insurance will vary based on specific factors.
The policy can be tailored to your specific businesses needs and services offered, including:

A variety of deductibles options from $1,500 to $10,000

The total dollar amount that will be paid for each liability type, from $100,000 to exceed $1,000,000

Selection of specific services offered by your company

Number of Inspectors

Claims History

Retroactive date of your prior insurance (if you have been in business)

state by state insurance requirements

What is Errors and Omissions Insurance? Understanding Your E&O Policy

Errors and omissions insurance for home inspectors will provide your company, your employees, and you with protection against lawsuits or claims that are based on omissions or mistakes made in your inspection which resulted in financial damages for the client. E&O insurance for home inspectors can even be prepared to provide protection from fees charged by attorneys or a settlement amount if you are determined to be guilty of an error or omission. Generally speaking, E&O insurance will cover you for a third party’s financial loss. You can, however, have a claim arise as a result of your “Professional Services” that could cause bodily injury, or property damage (BI/PD claim). This is why it is important to also have a “contingent” BI/PD component of your home inspector errors and omissions insurance policy. This type of “contingent” coverage should not be confused with a Bodily Injury/Property Damage claim that would fall into a General Liability claim. Read about General Liability insurance to understand why you should couple your home inspector errors and omissions insurance with general liability Insurance.

Complex areas that home inspectors routinely examine during the course of a home inspection and need to make professional assessment of:

Heating systems
Air conditioning systems
Interior plumbing
Electrical systems

Attics
Basements
Insulation
Ceilings

Floors
Walls
Windows

These systems are highly complex and a well-trained inspector will be asked to do a tedious assessment of each one and more! Our Home Inspectors are rigorously trained, however, even the best trained and experienced Inspector can make a mistake – THIS IS WHY YOU NEED E&O INSURANCE FOR HOME INSPECTORS!

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Why Home Inspection E&O Insurance is Important?

Home inspection E&O insurance is important because claims against home inspectors can and do happen. The cost of covering a claim in which the inspector is found negligent can be devastating and expensive. While the cost of the average home inspector errors and omissions insurance policy pales in comparison to the cost of a claim, thus evoking the “Penny-wise, Pound Foolish” adage. Even if the inspector did absolutely everything correct, he will still have an expense to defend himself against a weak or frivolous claim. The expense to hire an attorney to clear you from any implied wrong-doing can be extremely costly and detrimental to your business. Claims and legal expenses that arise from legitimate and frivolous claims can range from $500 to hundreds of thousands of dollars.

Why You should have General Liability Along with E&O if you are a Home Inspector

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Testimonials

Ive been in the home inspection business since 1998, EliteMGA is by far the best E&O / GL carrier I’ve ever dealt with. If you’re wise, you’re going to sign with EliteMGA.

John Weaver

As a home inspector EliteMGA was recommended to me by many of my peers. Everything has been great thus far and customer service is always prompt, friendly and knowledgeable. Luckily for me I have not had any claims filed but feel good knowing they are there for me.

Brandon Hedgecock

This company makes Home Inspector’s insurance affordable. When starting a business it’s costly enough. They are very professional and friendly as are their representatives. Would highly recommend them!

Dabby Doodle

I use EliteMGA for my new home inspection business and they have been great. The rates are competitive and the service is outstanding. Anytime I have a question, or need assistance Niccole from EliteMGA is there to help….

Mike Kuehnl

Best coverage for Home Inspectors. Great service and cost!

LDG Home Inspection, LLC

When you have a question or a problem Eiipro either knows the answer or gets you the RIGHT answer. Any error and omission insurance company is only as good as the person you deal with, that is why I deal with Eiipro and have done so for years.

Michael DelGreco

Ben and Dave are great to work with. They have always been a call away and went to bat for me when we had a claim. They are also my agents for our home, auto and other lines of insurance.

Renegizzo21

Contact EliteMGA for Home Inspector E&O Insurance

To learn more about our errors and omissions insurance coverage for home inspectors, please contact our Home Inspection Insurance Team at inspection@eiipro.com, or call 800-355-1185.