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Home Inspector E&O and General Liability Insurance – whats the difference

Published under News on 08/18/2011

Have you every wondered what the difference is between E&O and general liability for home inspector insurance? We created a short video that explains the difference.

You can find it here: Home Inspector Insurance E&O and General Liability Insurance – whats the difference Just scroll down the page

Or you can always call the team at 801.610.2700

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Home Inspector Insurance – Retroactive Coverage

Published under News on 07/29/2011

No doubt when you think about home inspector insurance you are concerned about retroactive coverage. Well lets break this down to a few important points….

1. What is retroactive coverage and why is it important to home inspector insurance
2. Claims Made vs. Occurrence home inspector insurance coverage
3. How do you know your home inspector insurance policy has retroactive coverage

Starting at the top, What is Retroactive Coverage and why is it important to home inspector insurance

Retroactive coverage is an insurance policy that will cover or “pick up” your past years of work and provide insurance coverage for them. In the case of home inspector insurance, retroactive coverage would pick up inspections you have performed prior to the year you are purchasing the insurance for. So, as an example, if you have been performing inspections for 4 years the retroactive coverage part of your home inspector insurance policy would cover the previous 4 years in addition to the upcoming year you are buying the insurance for.

However there is one major caveat……. You must have had insurance coverage for each of those previous 4 years and had no lapse or break in coverage. So when you ask the insurance provider for retroactive coverage they are going to ask you to prove you had coverage for each of the years previous you are asking for.

The above scenario applies only to the Claims Made coverage. There is a major difference between claims made and occurrence which is outside the scope of this post, but will be addressed in a subsequent post shortly.

How do you know if your home inspector insurance policy has retroactive coverage? Great question. You need to make sure you ask your home inspector insurance provider about retroactive coverage. The InspectorPRO Insurance policy for home and building inspectors offers full retroactive coverage. Just make sure you ask for it and provide the necessary documentation to obtain it.

If you have more questions about home inspector insurance retroactive coverage please call one of us at 801.610.2700

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Home Inspector Insurance – Wind Mitigation Inspection Coverage

Published under News on 07/28/2011

What is home inspector insurance for wind mitigation inspections? Home inspector e&o insurance and home inspector general liability insurance are mainly for home or building inspections. However some inspections involve inspecting the property for proper windstorm damage protection measures.

A windstorm inspection, also referred to as a “windstorm mitigation inspection”, windstorm insurance inspection or “Wind Mitigation Inspection”, is a kind of home inspection common in the coastal areas of the Southeastern United States. The purpose of a windstorm inspection is to determine the appropriateness of a given structure’s construction in the event of strong winds, such as those present in a hurricane.

Windstorm inspections look for construction features that have been shown to reduce losses in hurricanes, such as a hip roof, concrete block construction, the presence of gable end bracing, shutters and opening protections, the presence of roof to wall attachments such as toe nails, clips or hurricane straps, and the presence of a secondary water resistance barrier.

Many inspectors performing windstorm mitigation inspections carry home inspector insurance with wind mitigation inspection coverage. Our program offers home inspector e&o insurance with additional wind mitigation inspection coverage. The additional wind mitigation inspection coverage is added through an endorsement to the policy.

If you have questions about home inspector e&o insurance, home inspector general liability insurance, or the wind mitigation paint inspection endorsement please call one of our team at 801.610.2700.

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Home Inspector Insurance – Lead Paint Inspection Coverage

Published under News on 07/21/2011

What is home inspector insurance for lead paint inspections? Home inspector e&o insurance and home inspector general liability insurance are mainly for home or building inspections. However some inspections involve inspecting the property for lead paint.

Lead-based paint (LBP) is a concern in most homes built before 1978. The growing awareness of lead poisoning resulted in the eventual ban of lead-based paint in 1978 when the U.S. Consumer Product Safety Commission (CPSC) banned the sale and distribution of residential paint containing lead. Before the decline in use and eventual ban of lead-based paint, it was considered a high quality and durable paint. It is estimated that over 80% of the homes built before 1978 contain some lead-based paint.

Testing for lead based paint involves taking a sample from the wall, baseboard, chair rail, or other items that may be painted with lead based paint. Once the sample(s) is taken it is sent to a lab for further analysis. The resulting lab analysis is given to the party requesting the lead paint inspection.

Many inspectors performing lead paint inspections carry home inspector insurance with lead paint inspection coverage. Our program offers home inspector e&o insurance with additional lead paint inspection coverage. The additional lead paint inspection coverage is added through an endorsement to the policy.

If you have questions about home inspector e&o insurance, home inspector general liability insurance, or the additional lead paint inspection endorsement please call one of our team at 801.610.2700.

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Home Inspector Insurance – Septic Inspection

Published under News on 07/21/2011

What is home inspector insurance for septic inspections? Home inspector e&o insurance and home inspector general liability insurance are mainly for home or building inspections. However some inspections involve inspecting the septic system.

There are many different variations of a septic inspection some inspections may include; dye testing, pumping the septic tank and inspecting for cracks and breaks, measuring the sludge layer, inspecting the baffles (both incoming and outgoing), leech field or absorption field inspection and review, etc.

Some states require licensing for septic inspectors and for many of those states there is typically a requirement to carry home inspector insurance with septic coverage. Our program offers home inspector e&o insurance with additional septic inspection coverage. The additional septic inspection coverage is added through an endorsement to the policy.

If you have questions about home inspector e&o insurance, home inspector general liability insurance, or the additional septic endorsement please call one of our team at 801.610.2700.

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Home Inspector Insurance – Pool & Spa Inspection Coverage

Published under News on 07/21/2011

What is home inspector insurance for pool & spa inspections? Home inspector e&o insurance and home inspector general liability insurance are mainly for home or building inspections. However some inspections involve inspecting the pool & spa.

The intent of a pool & spa inspection is to analyze the current condition of all accessible pool components and the inspection typically consists of four phases:

1. Pool & spa placement and protection. Including fencing, gates, screen enclosure, proximity to electrical wires, location of electrical outlets and placement in relation to the home.

2. Pool & spa deck and container. This includes the pool and deck surface condition (cracks, discoloration, and pitting) and the coping surrounding the pool (open joints, cracking). Drains are inspected for the presence of anti-vortex covers because of safety.

3. Pool & spa equipment. This includes inspection of pool/spa lights, the presence of GFCI devices, junction box condition and location, pumps, filters, piping, timers, disconnects, heaters, controls, accessories, skimmers, and the appropriate electrical bonding is in place.

4. Pool & spa equipment operation. This includes operation of the pump, inspection for leakage, proper skimming and filtration, heater activation, filter pressure and the operation of the spa blower.

The report that is generated and delivered to the party requesting the inspection. It will typically summarize the general areas that need attention.

Our program offers home inspector e&o insurance with additional pool & spa inspection coverage. The additional pool & spa coverage is added through an endorsement to the policy.

If you have questions about home inspector e&o insurance, home inspector general liability insurance, or the additional pool & spa endorsement please call one of our team at 801.610.2700.

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Home Inspector Insurance – Radon Coverage

Published under News on 07/19/2011

What is home inspector insurance for radon inspections? Home inspector e&o insurance and home inspector general liability insurance are mainly for home or building inspections. However some inspections involve inspecting for radon.

A radon inspection involves either collecting a sample of the air in the structure in a canister or using a computer to take a real-time reading of the air/gas content in the home. If the sampling has been taken int he canister method the canister is packaged and sent to a lab for analysis. If the radon test was conducted with a computer system the system performs the analysis. In either case the resulting analysis is delivered to the party who requested the radopn inspection.

There are a few states that require licensing for a radon inspector. Our program offers home inspector e&o insurance with additional radon inspection coverage. The additional radon coverage is added through an endorsement to the policy.

If you have questions about home inspector e&o insurance, home inspector general liability insurance, or the additional radon endorsement please call one of our team at 801.610.2700.

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Home Inspector Insurance – Mold Coverage

Published under News on 07/18/2011

What is home inspector insurance for mold inspections? Home inspector e&o insurance and home inspector general liability insurance are mainly for home or building inspections. However some inspections involve inspecting for mold or the presence of mold.

Most often a mold inspection involves the inspector sending a sample of potential mold to a lab for further analysis. The resulting lab analysis is then sent as report to the home inspector and subsequently the person who requested the mold inspection.

Many states require licensing for the mold inspector and for many of those states there is typically a requirement to carry home inspector insurance with mold coverage. Our program offers home inspector e&o insurance with additional mold coverage. The additional mold coverage is added through an endorsement to the policy. If you have questions about home inspector e&o insurance, home inspector general liability insurance, or the additional mold endorsement please call one of our team at 801.610.2700.

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What is Home Inspector General Liability Insurance

Published under News on 07/15/2011

General Liability insurance or GL insurance is designed to provide insurance against risks that may include bodily injury or property damage caused by direct or indirect actions of the insured.

A few examples of when you might need home inspector general liability insurance would be in the event the inspector punched a hole in the drywall with their ladder, or if the inspector left their ladder leaning against the roof during the inspection and someone tripped over the ladder and was injured. Both of these scenarios would be covered by home inspector general liability insurance.

The difference between home inspector general liability and home inspector e&o insurance is that home inspector e&o insurance would cover the inspector in the event you neglected to mention in your report that the bricks on the chimney are pulling away from the house, or if you failed to notice and report the deck was not secured to proper footing. Both of these scenarios would be covered by home inspector e&o insurance.

If you want to learn more about home inspector general liability insurance please call one or our agents direct at 801-610-2700

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What is Home Inspector E&O Insurance

Published under News on 07/15/2011

Professional liability insurance is often referred to as Errors and Omissions Insurance or E&O Insurance. Home Inspector E&O Insurance focuses on alleged failure to inspect or discover a defect of a home or commercial building you have inspected. Home Inspector E&O Insurance sometimes also provides for the defense costs if there is a suit filed against the inspector. Home Inspector E&O insurance is required by law in some states for home inspectors and home inspector e&o insurance may also be required under contract by other businesses that refer business to you for your home inspection service.

A few examples of when you might need home inspector e&o insurance would be in the event you neglected to mention in your report that the bricks on the chimney are pulling away from the house, or if you failed to notice and report the deck was not secured to proper footing.

The difference between home inspector e&o insurance and home inspector general liability is that home inspector general liability insurance would cover the inspector in the event the inspector punched a hole in the drywall with their ladder, or if the inspector left their ladder leaning against the roof during the inspection and someone tripped over the ladder and was injured. Both of these scenarios would be covered by home inspector general liability insurance.

If you want to learn more about home inspector e&o insurance please call one or our agents direct at 801-610-2700

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