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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.

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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.

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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:

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

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.

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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. 

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