Home Inspector Insurance in Vermont

WHAT IS IT? WHO NEEDS IT? COVERAGES OFFERED

Home inspector insurance is specialized commercial insurance for residential building inspectors.

Residential home inspector insurance tends to be the most appropriate policy type for residential building inspectors. Inspectors who check single-family, townhome, condominium and smaller multi-family buildings may want this insurance.

• Tools and Equipment Coverage
• Equipment Breakdown Coverage
• Business Income Coverage

What is Home Inspector Insurance?

Home inspectors are responsible for ensuring the integrity of clients’ homes, and a single mistake in this type of work can have costly consequences. Home inspector insurance may help inspectors in Vermont shield themselves from error-related and other risks.

Home inspector insurance is specialized commercial insurance for residential building inspectors. The insurance normally comes in the form of a package policy that combines coverages together, which allows the policy to protect against multiple risks.

What Vermont Professionals Should Carry Residential Home Inspector Insurance?

Vermont is one of the few states that doesn’t require home inspectors to carry insurance in most situations. Forgoing insurance generally isn’t advisable when inspecting buildings, however.

Among the various insurance options, residential home inspector insurance tends to be the most appropriate policy type for residential building inspectors. Inspectors who check single-family, townhome, condominium and smaller multi-family buildings may want this insurance. Inspectors who check commercial, industrial or other larger buildings often need a different type of policy.

What Coverages Are Available Through Residential Home Inspector Insurance?

Home inspectors may access a variety of coverages through residential home inspector insurance policies. Policies usually make coverages such as the following available:

General Liability Coverage, which might cover common accidents involving third parties and defamation lawsuits
Errors and Omissions (E&O) Coverage, which might cover mistakes that are made when inspecting buildings
Commercial Property Coverage, which might cover owned facilities and equipment when its kept at a facility
Tools and Equipment Coverage, which might cover specialized equipment when it's not at a facility
Equipment Breakdown Coverage, which might cover essential equipment in the event of an unexpected breakdown
Business Income Coverage, which might cover lost revenues that occur after a covered disaster

An insurance agent who specializes in residential home inspector insurance can help inspectors explore all of the coverages that a policy offers.

Mike Bancroft is simply an amazing agent. When my business got burglarized, I was so upset and didn't know what to do. I contacted Mike and he was very prompt in calling me back and he put my mind at ease. He made me feel so much better and handled all of the paperwork immediately. His customer service is top notch and I highly recommend him!

Becci Kepnes-Letourneau

Our business was with the same trusted agent for over 20 years. Mike Bancroft offered to evaluate our policies and see if he could save us some money on both Workmen's Comp and general liability. He did, and in the process even moved us to better coverage. Mike also offers a superb quality of service. Cannot recommend highly enough.

StoryWorkz Creative

Mike Bancroft has been great to work with. He has assisted with my Business Auto, Tool Coverage, Homeowners and all other types of insurance needs. I wouldn't be surprised if they change their name to Paige, Campbell & Bancroft soon!

Lance Garrett

Extremely prompt, personable, and professional service! Despite only needing a workers' comp policy for one employee, Paige & Campbell was very receptive and ensured to shop my policy around to ensure I received a great price that was almost half of what another broker quoted me.

Jennifer L.

What Features Should Inspectors Look for in E&O Coverage?

Errors and omissions coverage is commonly used across many professions, and the coverage is typically tailored for a particular profession. Inspectors should look for E&O coverage that includes all of the inspections that they do. For example, inspectors might need coverage that extends:

General purpose inspections
Septic, sewer or water purification system inspections
Termite or mold presence inspections
Lead paint inspections
Spa and pool inspections.

Inspectors can confirm that a policy covers all of their inspections by comparing the policy's protections with a knowledgeable agent.

Should Inspectors Pay Per Inspection for Insurance?

Some home inspector policies correlate their premiums with how many inspectors a policyholder does, charging a separate fee for each covered inspection. Other policies have a more traditional premium structure that assesses a flat rate for a specified period (e.g. 6 or 12 months).

Paying per inspection can seem like a cost-saving strategy, but it doesn’t take too many inspections before the per inspection premiums match or exceed the more traditional ones. Unless inspectors are just starting out and don’t yet have much work, a traditionally structured premium is often more financially advantageous.

Additionally, some per inspection policies have inferior coverages. Even if one of these policies makes financial sense, inspectors ought to have an experienced insurance agent make sure that the coverages a policy provides are sufficient.

How Can Vermont Inspectors Get Home Inspector Insurance?

For help finding a home inspector insurance policy that covers Vermont inspections, contact the independent insurance agents at Paige & Campbell Insurance. Our agents are familiar with the coverages that these policies offer, including E&O coverage, and we’ll make sure your chosen policy provides robust protection.