hausdok Posted August 27, 2007 Report Share Posted August 27, 2007 Hi Everyone, This morning I want to introduce to you Gill Stuart's new Insurance Q & A column. Gill is with the Pickett Insurance Agency in Vancouver, WA and is fairly well known by home inspectors all over the state of Washington. Although his firm deals primarily with customers in Washington and Oregon, Gil's knowledge of the insurance industry can be applied most anywhere in the country. Best of all, he really knows about this business and he's the only insurance guy that I know of who cares enough about the profession to have shown up at hearings pertaining to home inspection licensing here. There are a lot of inspectors in the state who will credit his advice with saving them from financial ruin. When you've got questions about insurance post them here. Gil will automatically be notified via e-mail that a question has been posted here, and then he'll respond as soon as he's able. I think that Gil and TIJ are going to be a good fit, so please give him a hearty welcome and let's kick some questions his way. ONE TEAM - ONE FIGHT!!! Mike Quote Link to comment Share on other sites More sharing options...
TopSarge Posted August 30, 2007 Report Share Posted August 30, 2007 Hey, This is just what I need. Welcome, Mr. Stuart. Here is my question: Does staying with the same insurance company lower my rates after the 1st year of two? Thanks for caring. Chris (Top) Sergeant Quote Link to comment Share on other sites More sharing options...
jferry Posted September 7, 2007 Report Share Posted September 7, 2007 Many factors influence insurance rates. Customer loyalty is not one of them. Quote Link to comment Share on other sites More sharing options...
SonOfSwamp Posted September 7, 2007 Report Share Posted September 7, 2007 Hello Gil, There are folks in the home inspection business, and apparently at least one insurance man, who swear up and down that home inspectors increase their liability exposure when they cite reputable sources in their reports. I've long held the position that citing high-quality references -- such as building codes, manufacturer's specifications, trade association guidelines, etc. -- increases the inspector's credibility and helps his customers win arguments with recalcitrant builders, sellers and RE agents. I've also long held the belief that citing sources correctly is highly unlikely to get a home inspector in trouble. Citing sources incorrectly, I think, could be a real problem. What say you? Thanks, Walter Jowers Quote Link to comment Share on other sites More sharing options...
Gil Stuart Posted September 7, 2007 Report Share Posted September 7, 2007 Top Sarge - Staying with the same company for many years really counts as no credit for reduced premium at the end of each policy year. Matter of fact in Most Professional Liability the rates can increase over the 1st 5 years due to the policy reaching "maturity" this hold most true to Claims Made type insurance forms. If you carry an Occurrence Form the cost will vary based purely upon what your bottom line is coming up to... Loyalty to one company may not save you money - I agree with that but having a solid long standing relationship at least gets you some understanding when the chips start flying in a claim or a possible problem... There are indeed many factors that affect the bottom line which I can tell will get discussed in our running discussions. How you the inspector manages the factors is the key. Regarding the point of "to cite or not to cite" my reply is measure and confirm a thousand times before you open your mouth...it was once said that even a fool if he keeps his mouth shut is considered wise... Not implying anyone is foolish just to be silent when you don't know the facts...if you do know the fact are true then you have license to talk all day...Respectfully of course! Respects, Gil Quote Link to comment Share on other sites More sharing options...
Les Posted September 7, 2007 Report Share Posted September 7, 2007 Gil, Do you have any words of wisdom about the breakdown of claims? Is there any difference in premium between regulated states and non-regulated? Nearly forgot - Hello Gil! Quote Link to comment Share on other sites More sharing options...
jferry Posted September 9, 2007 Report Share Posted September 9, 2007 The only way to increase your liability exposure is to conduct a negligent inspection. If you manage your client's expectations, armor-plate your PIA, follow your SOP, load your report with disclaimers and do a professional job, you will virtually eliminate your liability exposure. You won't be able to prevent a determined claimant from filing a claim but you will be well-positioned to defend it. Quote Link to comment Share on other sites More sharing options...
MMustola Posted September 10, 2007 Report Share Posted September 10, 2007 Gil, If possible, I would really like to hear stories or examples of how inspectors have gotten themselves into trouble. We could learn a lot about what not to do. Quote Link to comment Share on other sites More sharing options...
sqwmama Posted April 27, 2008 Report Share Posted April 27, 2008 Hi Gil New inspector from Missouri. Need all the help I can get regarding E & O insurance. I want to do this and do it right. Thanks for your help. Quote Link to comment Share on other sites More sharing options...
Mark P Posted April 27, 2008 Report Share Posted April 27, 2008 Originally posted by MMustola Gil, If possible, I would really like to hear stories or examples of how inspectors have gotten themselves into trouble. We could learn a lot about what not to do. Yes, I agree that would be interesting. Quote Link to comment Share on other sites More sharing options...
hausdok Posted April 28, 2008 Author Report Share Posted April 28, 2008 Hi, It looks like GIL hasn't set up his subscriptions correctly and he's probably not getting those queries. I shot him an email asking him to check in. OT - OF!!! M. Quote Link to comment Share on other sites More sharing options...
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