Home Inspector Insurance

OREP – Organization of Real Estate Professionals, specializes in Errors and Omissions and General Liability Insurance for home inspectors nationwide.  The E&O and General Liability insurance provided by OREP for home inspectors is Admitted (no surplus lines taxes). Most home inspectors qualify for OREP’s E&O insurance program, which inspectors can use to select their coverage and submit their application for quoting in less than 5 minutes. OREP’s E&O insurance application allows you to get back to work in minutes!  Home inspectors no longer have to go without coverage or pay extra for full coverage. OREP offers broad coverage at low minimum premiums that include Errors and Omissions Insurance and General Liability. Coverages available include radon, pest, commercial, FHA, HUD and VA Inspections (Including 203K), prior acts (for qualified applicants), agent referral, additional insured (franchises), pool and spa, mortgage field, energy rating and many other services.  Premiums start between $1,000 to $1,250 for OREP’s base policy.  OREP is committed to providing quality home inspector errors and omissions insurance policies that protect you and your business!

OREP also provides approved low-cost continuing education for home inspectors, corporate pricing on goods and services (save a bundle) and award-winning Working RE Magazine as part of its benefits package. Working RE for home inspectors is a publication that provides content aimed at keeping home inspectors informed about the latest news in their industry. Read below for Working RE stories for home inspectors and home inspector insurance topics. These articles are filled with advice and tips on how home inspectors can limit their liability and protect themselves and their home inspection business.

OREP offers great service, low rates on errors and omissions insurance and same-day coverage/confirmation for home inspectors (most cases). We answer the phone! Call OREP for an alternate program in these states (888-347-5273).

Home Inspector E&O and GL Insurance

Minimum Premiums start between $1,000 and $1,250*

Visit OREP to learn more about home inspector insurance today!

*Final premium cost varies by state, experience, claims history and
services selected. Ask your OREP agent for details.

Inspectors E&O Insurance
Prices Drop, Time to Learn How to Shop
By now you have probably seen firsthand that prices for most home inspector errors and omissions insurance (E&O) programs are lower than they have been in many years due to the “softening” insurance market. With prices for fuel, food and practically everything else rising almost daily, it’s a much needed break- some inspectors are saving $1,000 or more on their annual policy. Minimum premiums for the lowest limit levels ($100,000) are around $1,250 but as most of us understand, price is not the only factor to consider when shopping insurance. Price, coverage and service all matter. Yes, prices have dropped- now it’s time to learn how to shop… Read more from this Home Inspector Insurance story

Home Inspectors: Inspecting Your E&O Insurance
Here’s a riddle that more and more inspectors are solving easily: how do you obtain errors and omissions insurance (E&O) and General Liability Insurance from an “A” Rated, Admitted carrier including an Additional Insured Endorsement for Agents and other Referring Parties, Termite and Radon coverage, coverage for commercial inspections and pool- for $1,250? The answer is you call or visit OREP. OREP is the E&O provider of choice for more and more inspectors nationwide… Read more from this Home Inspector Insurance story

Inspectors Errors and Omissions Insurance Q&A
I’ve observed that E&O premiums rise and fall for two reasons- insurance market conditions and loss history (claims). In “hard” markets, like following 9/11, fewer carriers are willing to write professional liability insurance (E&O) and fewer still will write “high-risk” professions, such as home inspection. You might remember you had far fewer choices back then and you paid much more for your E&O. What else has gone down in price in the last 12 years? In today’s soft market, there are more carriers willing to write inspectors, so prices are more competitive. This is good for you. The second reason why a program’s premiums rise is loss history and/or the total expense of handling claims. If the claims ratio (expenses vs. premium sold) exceeds a carrier’s benchmark, they typically do one of two things: they either raise premiums or stop writing the business. So in short, a higher premium is not necessarily an indicator of broader coverage: with insurance, big premiums do not necessarily mean big coverage. And the opposite is true also: low premiums are not necessarily an indication of narrow coverage. Again, these days it’s not hard to compare coverage and price for yourself with a few clicks… Read more from this Home Inspector Insurance story

Inspector’s E&O Insurance: Market Softens – Prices Drop
Instead of the now familiar direction to “shop ‘till you drop,” new insurance conditions suggest instead that inspectors should shop because they’ve dropped. We’re talking about rates for errors and omissions insurance of course. The market is finally softening back to where it was before 911 and the good news is that you have more choices than ever– broader coverages and lower rates. There is peace of mind in knowing you’ve done the numbers, understand the issues and are making an informed decision. Due to changes in the insurance market, if you haven’t done the numbers lately, you owe it to yourself and your business to compare coverages and prices. This is especially true if you pay “per inspector” for your multiple inspector firm or if you pay extra for “corporate coverage,” pest, radon or commercial inspections. You have more insurance choices, make your decision an informed one… Read more from this Home Inspector Insurance story

OREP Announces New Home Inspector Insurance Program
OREP (Organization of Real Estate Professionals) is proud to announce a new insurance program that allows inspectors to have complete coverage and save money! David Brauner Insurance Services/OREP has been servicing the insurance needs of home inspectors for 12 years. “Home inspectors who are paying extra for ‘add on’ coverages, or worse, going without the full coverage they need to save money, don’t need to any longer. Broad coverage is included in the minimum premium, including E&O and premises coverage,” said David Brauner, Senior Broker at OREP… Read more from this Home Inspector Insurance story

E&O Insurance: Prices Drop Time to Shop
If you are a single inspector and haven’t shopped insurance for awhile you will be surprised at the lower premiums now available. Minimum premiums for insurance policies with very broad coverage including general liability, prior acts, coverage for referring parties, radon, pest, commercial and more, are back down to the $1,250 range! Multiple-inspector firms also are benefiting from the new market-especially with programs that don’t charge or charge minimally for additional inspectors and independent contractors. Years ago it was hard for home inspectors to find inexpensive insurance- the choices were few. Today, the tables are turned. Here are a few tips to help you make an informed decision about these and other issues, such as Occurrence versus Claims Made, preserving prior acts and more… Read more from this Home Inspector Insurance story

Cutting Expenses as Business Slows: Why Canceling Your E&O Can Really Cost You!
As business slows, some of you are thinking about cutting expenses by either letting your E&O insurance policy lapse (not renewing) or by canceling mid-term. This is what you ought to consider before cancelling or non-renewing your E&O insurance for any reason. Home inspectors don’t need to be coached about the wisdom of carrying E&O insurance. Claims for inspectors typically happen soon after the date of the inspection. If your business is slowing, think twice about canceling your insurance to cut expenses. It may be a penny wise and a pound foolish should you face a claim and have to bear the burden of your own defense costs. If you don’t have insurance, the current climate makes it worth considering… Read more from this Home Inspector Insurance story

How to Successfully Refute a Complaint
First, contact your insurance agent right away. Why not get the help of the insurance company pros when responding to a complaint? Get the experts on your side. Not only is it smart but it is typically required: most home inspector insurance policies obligate you to notify the insurance company immediately and prior to responding to the complaint directly, as a condition of coverage. Having said that, if you are going to respond with your side of the story, to either a disgruntled client or to your insurance company, there are commonsense basics to keep in mind… Read more from this Home Inspector Insurance story

Inspectors: What to do with Claims
There are good reasons for reporting claims and incidents to your insurance provider when they happen. Here is vital information, that even seasoned home inspectors may not know, that can save you anxiety, money and maybe even your business. The return address on the envelope is from a local attorney and as you open the letter your stomach begins to tighten. Unfortunately, your instincts are right: you’re being sued. It’s an inspection you did 14 months ago. Whew! You had errors and omissions insurance coverage at the time, so no problem, right? Not necessarily… Read more from this Home Inspector Insurance story

Low E&O Rates & Great Service
Our mission at OREP is to be the best insurance resource for home inspectors and real estate professionals; to follow the Golden Rule by treating all who contact us for help as we would expect to be treated: with honesty, courtesy and efficiency. Inspectors E&O Insurance Min. Prem. $1,250 (covers all inspectors)… Read more from this Home Inspector Insurance story

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Visit OREP to learn more about home inspector insurance today!