- Liability insurance usually relates to property
preservation ... few exceptions such as mattress
inspections
- E&O insurance usually relates to inspections ...
few exceptions
- Large majority of inspections require NO insurance.
- Low fee ($2, $3, $4, $5) MORTGAGE inspections
almost always require E&O insurance. More risk ...
more insurance claims. This is the segment to avoid.
- Higher fee insurance and commercial inspections
usually require NO insurance.
- If a firm asks if you have insurance, it does not always mean that you need insurance.
- If a firm requires insurance ... ask for a WAIVER of the requirement.
- About 95% of national and regional field service firms do NOT require any insurance for
inspections.
- Talk to an experienced insurance agent that understands the field services industry.
- Shop around for insurance ... compare prices and coverage.
- Insurance offers protection ... evaluate the pros and cons ... talk to an agent.
- Incorporation ... LLC ... offers some protections ... talk to an attorney
- Call Richard Law at 352-449-1041 (east coast) if you have questions. We are not insurance
agents, so we may not be able to answer all of your insurance questions. Always talk to an
insurance professional. Always shop around and compare coverage and prices.
The BOTTOM LINE is that about 95% of national and regional field service firms do NOT require any insurance for inspections.
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