Do you carry E&O insurance coverage?

[Michael Brown]

Do you carry E&O insurance coverage?

[Phillip]

Another question that could be on there is: Would you have E & O if the state did not require you to carry it?

[Jack Ahern]

IF I had a choice---NO a thousand times NO. Comm. of Mass. requires coverage as a requirement for license.[:-banghea

[Steven Hockstein]

NJ Home Inspectors are required to carry insurance.

[Tom Raymond]

When the Feds decide to file charges against the racketeers who run insurance companies I'll think about it. Until then I only buy coverage that is required, a little more if it is a bargain. My GL policy is a good example, for $16 more a year I more than quadrupled my coverage.

Tom

If only I could convince my wife that health insurance isn't manditory[:-banghea

[Northwoodschuck]

I don't have it and will only buy it if I'm forced to do so![:-monkeyd

[ghentjr]

Do you carry E&O insurance coverage?

Yes.

[Chad Fabry]

nope

[randynavarro]

Yes, but I waffle every year on whether to re-up.

[Richard Moore]

Honestly, I really don't feel I need it but, at this point in an old fart's life, I just don't want to risk my savings, equity, etc. And it keeps the wife from worrying (very important). On the bright side it is a business expense and therefore tax deductable so, for me, the true cost is 30+% less than the actual amount.

[John Dirks Jr]

No. Now, how do I vote in the poll? I can't find the buttons.

[hausdok]

That means that you've already voted.

OT - OF!!!

M.

[John Dirks Jr]

That means that you've already voted.

OT - OF!!!

M.

I must have forgot that I did. I should have replied that time too. Thanks.

[RickSab]

I do not. I don't own anything. The tools and computer are the only thing the company owns so they would get them but nothing else. I had everything put into a trust that can not be touched. Al least that is what the lawyer says, and thats my daughter so nothing will be left if she is wrong.

[Jim Katen]

I do not. I don't own anything. The tools and computer are the only thing the company owns so they would get them but nothing else. I had everything put into a trust that can not be touched. Al least that is what the lawyer says, and thats my daughter so nothing will be left if she is wrong.

What happens if you receive a large judgement against you? Can they not go after your future earnings?

- Jim Katen, Oregon

[Brandon Whitmore]

What happens if you receive a large judgement against you? Can they not go after your future earnings?

Could that be why businesses go under, and then start up under a different name?

[Jim Katen]

What happens if you receive a large judgement against you? Can they not go after your future earnings?

Could that be why businesses go under, and then start up under a different name?

Probably. But I'm not sure that it would work very well for a home inspector. If it's a high-stakes suit, the plaintiff is going to go after the business as well as the inspector personally.

- Jim in Oregon

[Tom Raymond]

I know we live in a litigous society but, if someone has the proclivity to to seek a legal remedy, wouldn't that someone be more likely to hire service providers that have assets worth seizing? Personaly, I think the big franchise, or the guy who advertises " Fully Insured" is a much better target than the little independent guy. Hopefully I'll never have to find out if I'm wrong.

Tom

[Smartazz]

Wish I didn't have to.... Scum sucking vultures aren't worth a %$&^. If I miss something more than my $2500 deductable I deserve to lose.

[ejager]

Yup, association requirement, but have seen very few members who advertise it.

[hausdok]

Yup, association requirement, but have seen very few members who advertise it.

I'd never advertise it; it's an open invitation that says, "Hey, wanna sue somebody? Try me, there's a jillion moles that I might miss on an inspection that you can make a mountain out of and my carrier will settle-out-court just to get rid of you after I pay them my outrageous deductible."

ONE TEAM - ONE FIGHT!!!

Mike