Errors & omissions insurance is a critical protective measure that is vitally important for all parties to the real estate transaction. Unfortunately, not all home inspectors carry insurance. The Arizona Board of Technical Registration allows an Arizona home inspector to carry nothing more than a $25,000 bond in order to perform home inspections. The only way to collect on a bond, is for the claimant to prevail in a lawsuit and get a judgement before the bonding company will pay. As you likely know, it could cost that much in legal fees just to get the judgement. This can be a disaster for the buyers and for the real estate agents who are also usually a defendant.
Beyond errors & omissions insurance, a quality home inspection company will also carry general liability. General liability insurance covers things like damage to property or injury to occupants caused by the inspector.
“IF YOUR HOME INSPECTOR DOES NOT CARRY ERRORS & OMISSIONS AND GENERAL LIABILITY INSURANCE YOU ARE TAKING AN ENORMOUS RISK”
The bottom line is: check out your Arizona home inspector before hiring by asking insurance related questions, and check the AZ BTR to make sure your inspector AND their “firm” status is current.
Are you curious to learn more about home inspections? Dedicated to a high standard of customer care, Havasu Home Inspection Company a division of Havasu Pest Control is here to answer any questions you may have about their services—all provided by a licensed, registered, and insured specialist. They also offer free estimates to ensure you receive a fair and honest price. To get in touch with a staff member, call the Lake Havasu City, AZ, office today at (928) 855-1054. For more information about home inspections, pest, weed and termite control services, visit this trusted exterminator online.