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Request for E&O Insurance Information

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Texas has passed a law which requires liability and E&O insurance for home inspectors before they can receive their license or renew a license.

I would like for someone to give me some referrals to insurance companies which provide this type of insurance and with a fair market price. The legislature also requires 100,000 dollars for each incident.

Your assistance will be appreciated.

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There are two of this site's sponsors, OREP and BRP and then there's FREA. If you meet certain requirements, you may qualify for some initial discounts. I don't think there's any such thing as a fair market price when it comes to insurance. You can be sure that, whatever policy you get, the premiums will consistently go up once they've got their hooks into you. I started out at $1500 a year, within two years it had gone up to over $2000 and by the 5th year I was paying nearly $4000 a year.

OT - OF!!!



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If you get E&O, you want more than $100,000

I use BRP. I shopped around and they just gave me more bang for my buck. My policy has Corporate coverage, Radon coverage, a GL policy just for the house being inspected and I pay around $2,700 a year. Their rates are not a blanket price, they depend on your state and past history.

E&O rates have gone down over the past couple of years. I had FREIA and they kept raising their rates to the point that I was paying around $3,400 for less coverage than what I get now.

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You can also check with State Farm. They do write coverage in Texas.

And as noted above $100K is not what you should consider as most companies don't write that coverage ... save for many offering "now" in Texas for the TREC HIs ... they have devised a special $100K plan. By the time you pay the premium for that you are only a little ways away from pay for $1M coverage.

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