When Good Inspections Go Bad: Protecting Your Business from the Unexpected

As an ASHI home inspector, you help homebuyers make informed purchases. But even the best inspectors and the most thorough inspections can lead to claims.

From missed defects to stolen equipment, one bad claim could end your business. Understanding your insurance options and arming yourself with essential protection gives you the safety net every inspector needs.

Which kinds of insurance do home inspectors need?

There are three types of insurance that every home inspector needs: errors and omissions, general liability, and inland marine.

Errors and omissions insurance (E&O), also known as professional liability insurance, protects you when clients allege you missed defects during an inspection. For example, if a client claims you failed to identify foundation cracks that required $15,000 in repairs, E&O insurance would cover your legal defense costs and any settlement or judgment.

General liability insurance covers bodily injury and property damage claims that result from your inspections. Imagine you accidentally knock over an expensive vase during your inspection, or a client trips over the radon monitor you left overnight and breaks their arm. General liability insurance would cover these incidents.

Inland marine insurance, or equipment coverage, safeguards your tools and equipment, whether they're in your vehicle, at an inspection, or in storage. As an inspector, you rely on specialized equipment like moisture meters, thermal imaging cameras, electrical testers, and ladders. If someone breaks into your vehicle and steals $8,000 worth of equipment, or if your drone crashes and breaks during an inspection, inland marine coverage would reimburse you for repair or replacement costs.

How can I save money on home inspector insurance?

ASHI members have exclusive access to exceptional insurance benefits through their partnership with InspectorPro, the leading provider in specialized home inspector coverage. It’s called InspectorPro with the ASHI Advantage. Here are some of the key features:

• New inspectors receive a $250 discount on their first year of coverage, helping you launch your business with professional protection at an affordable price.
• All ASHI members qualify for a 10% premium credit on their annual policy, delivering ongoing savings throughout your career.
• When you purchase $10,000 in inland marine coverage, you'll receive $20,000 worth of protection, doubling your equipment coverage at no additional cost.
• Additionally, members receive five years of free tail coverage, which protects you from claims filed after you stop practicing or switch carriers. Through tail coverage, ASHI members also receive 10 years of accidental death coverage, offering additional security for you and your family.

With the ASHI Advantage, you also get all of the great benefits of being an InspectorPro insured, including:

• State-specific pre-inspection agreements, crafted by over 15 years of claims handling to give you the best claims prevention and defense.
• Pre-claims assistance to resolve client complaints before they turn into claims.
• Risk management discounts to your deductible for doing your best to prevent claims.
• Unmatched customer service from a team that’s dedicated to the inspection industry.

Learn More at Our Upcoming Webinar

Ready to discover how the ASHI Advantage can protect your business? Join us on the ASHI Edge for an informative webinar on February 24 at 5 PM CT. We'll dive deeper into coverage options, answer your questions, and show you how to access your exclusive member benefits.

Don't miss this opportunity to safeguard your inspection business with affordable coverage designed for ASHI professionals. Click here to register.