TOPIC: E & O Insurance

Does anyone have any idea how many guys operate without E & O ?

I know of one for sure, me

Not too many. You can now get a half million dollar policy for $1200 from companies like Allen Insurance and OREP. To not get it is just silly!

Dom,  You are probably right, it may be silly not to have E&O. But,,,having been a (and still) a General Contractor for over 22years I have never had or could even buy E&O insurance, The liabilty insurance we are requiered to carry is only in place to cover accidents that may happen on the job relating to the stupid hunman tricks that one of my employees or myself might inflict on a non working person on the job. It is a little nore complicated than that, but the reality is it is Not E&O. My biggest year(06) we did over 3.5 mil in gross reciepts, that is a lot of exposer, so I guess I am used to a little risk.

By the way, how do you spell check here?

Also, I want to say that you guys at HIP totaly rock. I wish you had a construction estimating program also.Thanks ;D

Thanks, we work hard at rocking!

Spellcheck is built into most browser now so it's not loaded into the site itself. Try out Chrome.Google.com . It's a faster browser and built in.

Unfortunately home inspections can be quite a litigious job. In some state like California you're responsible for your report for 4 years, to anyone that moves into a property you inspected, even if they weren't the project. It's ridiculous but true. I've heard many stories over the years. It seems like the average inspector will be sued about 1 in 1000 inspections. Usually for something stupid and not their fault. So for $100/month (or even pay per inspection with Allen Insurance) it makes sense to cover your butt.

I had some for a bit but then cancelled.  I was paying about $1800/yr.  I asked an attorney why I needed E&O insurance if my company is incorporated.  He said as long as they can not "pierce the corporate vial" as is well. He said having E&O is a little like having suspenders when you already have a belt.  So I got tired of paying $1800 for my suspenders.