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Aug 24, 2011

Release Me!! – Home Inspector Insurance thoughts…..

No inspector is perfect. If we all sat in a room and I asked you how many of you has missed something when inspecting a home the answer would be everyone. That old saying, “it’s not if, but when” is true. At some point in your inspection career you’ll have to deal with the results of a mistake.

There are many thoughts and opinions about how to respond and while this post won’t address all the potential responses; I do want to talk about the Claim Release Statement.

After your conversation back and forth with the claimant you may eventually settle on a dollar figure they will accept to drop the claim and allow both parties to move on. It’s your choice to pay the settlement and walk away.

HOWEVER, you must get a signed release from the claimant. Having an gentleman’s agreement will not stand up in the future. Putting a statement on the back of the check that says something to effect of “by signing this check I release ABC Inspections from any and all future claims” also will not typically hold water in the event of future claims. You’ve got to have a release that finalizes the transaction for the current claim and anything that may arise in the future.releaseimage1 Release Me!!   Home Inspector Insurance thoughts.....

Each year in the home inspector insurance industry we see situations where claims are settled. When a claim is settled the insurance company always gets a release letter signed by the claimant for this and all future claims. As an inspector, if you are going to negotiate your own settlements for incidents you should follow the same practice.

Yes mistakes happen, and yes sometimes you can settle them and walk away. Obtaining a release is a smart home inspector business practice.

Disclaimer….I am not an attorney and this post is in no way an attempt to convey or give legal advice. You should consult with your attorney to draft the release you use.

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