The Importance of Home Inspector Insurance

There are many qualifications to look for when selecting a professional home inspector. One important factor to consider is whether your home inspector carries home inspection insurance. A home is a large investment, so it is important that a home buyer take any and all safety measures to ensure a sound investment, including making sure that they and their home inspector are covered.

Such insurance can be difficult to obtain for home inspectors that are new to the industry, have no formal training or have a spotty track record for accurate reporting. Home inspector insurance, also known as professional liability insurance, protects the inspector and the consumer in the event that the inspector misses a significant element that was visible at the time of the inspection and could have been reported.

Smaller, unaffiliated home inspectors often feel that home inspector insurance is too expensive or not worth the time and cost to obtain. While proper training, access to on-going, experienced technical support, and annual testing are critical elements to providing competent home inspections, insurance is also important. Home inspector insurance is not unlike mal-practice insurance. Even the most experienced home inspector can make a mistake, and as such should protect themselves and ultimately their client by carrying home inspector insurance. Some home inspection licensing requirements do mandate home inspectors carry insurance, but consumers should verify that the inspector they hire is covered.

When it comes time to choosing your home inspector, ask your real estate professional who they used the last time they purchased a home. It is quite likely that your agent chose an inspector that carries home inspection insurance as they know that only responsible companies require such insurance.