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Home inspector insurance is necessary for any home inspector. Even if your inspector does not make major mistakes, a professional inspector's word is still worth something. Inaccuracies or errors may arise in any part of the inspection process, from finding defects or other problems to arranging for repairs. Insurance helps cover the cost of these mistakes or omissions and protects the inspector against being financially devastated because of these mistakes. Your warranty will cover the mistakes or omissions of the previous owner(s) as well as the contractor you hired to complete the job.Home inspectors are often considered part-time contractors. In fact, many homeowners mistakenly think that their "inspector" is actually a contractor. This can be a very misleading thought process. Inspectors should never be confused with contractors, who will always have a formal business relationship with the homeowner. Most states have rules governing home inspector qualifications and it is important that homeowners check and make sure that their inspectors meet those qualifications.One mistake that most home inspectors make is not covering all the steps in the process. A qualified inspector should note on their report the number of required visits to each site listed. They should also note the type of materials used, the condition of the foundation and other critical defects. Often, these defects are covered only when damages exceed a certain amount. For example, some inspections consider an interior leak as a minor defect if the exterior is otherwise in great shape. Insurers will not accept coverage for such an error, so home inspectors should keep that in mind.Another common error is selecting too many standard features to include in a review. Many states require that home inspectors include a basic review of the structure and foundation and a final inspection of electrical, plumbing, and mechanical systems. However, home inspectors often include non-standard features such as basement molding or tile removal. These are not considered necessary parts of the process and often result in the same errors being reported. Thus, it's best to stick to one general scope, which generally includes all significant defects or problems, not just the more commonplace ones.Sometimes, home inspectors need and gl insurance for legal fees. Some instances, such as defective products or miscalculations, require expert testimony as to the cause and nature of the problem. In those cases, homeowners may try to defend against their errors in order to protect their business interests. If a business has a contract with the state that requires it to defend against legal fees, it's likely that insurance is necessary. In addition, homeowners can often save money by choosing to use only those vendors that participate in the state's marketing program.One mistake that frequently makes it into a home inspector insurance cost article is a failure to mention bodily injury or property damage coverage. If there is a building or contents damage, it's important to note this coverage explicitly in the policy. Otherwise, some inspectors will skip this important coverage altogether, leaving their clients to absorb the costs themselves when it's too late.Another mistake is to ask questions without having all the facts. Asking questions that are related to your particular business needs can help ensure you get the coverage you need. For example, some companies require home inspectors to go through an in-depth training program before they can work on homes. When asking questions pertaining to this requirement, ask to see a copy of this training. It may also be prudent to ask to speak with a company representative to find out what the specifics are for this requirement.Home inspectors play a vital role in our country. However, making sure Insureinfoq reflects the type of work you do can go a long way toward protecting yourself and your clients. Avoiding these common mistakes will insure you enjoy complete protection. For more information, contact a local home inspector insurance policy provider today. They will offer you professional consultation and assistance in crafting a policy that fits your needs.