Only 1% of All Home Inspection Claims Have Merit
A home inspector who serves on his state’s licensing board told me that 6% of the licensed inspectors in that state had claims brought against them and that 90% (yes, 90%) of those claims had merit.
Those numbers were completely at odds with my experience where less than 1% of home inspection claims have merit, so it made me wonder if the insurers on those claims were doing any investigation whatsoever or perhaps they just don’t know what constitutes a meritorious claim.
Let me tell them (and you) in this week’s ClaimsAcademy video blog. This is a valuable piece of home inspector training.
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Home inspectors are EASY targets. It’s a sad fact that many home inspectors are victims of meritless claims while receiving little assistance of those they thought could be counted on: their insurance company.
Can anyone alter a contract even if they aren’t the company that drew it up? Absolutely.
As a professional home inspector who cares about your craft, the anxiety center in your brain likely never turns off. It causes you to sit up or pace the halls at 2 a.m. unable to sleep and left wondering if you missed a leaky pipe or something else critical during a home inspection the preceding day.
Home inspectors often ask me, “Should I have professional liability insurance?”
A home inspector’s friend was recently buying a home and had a home inspection completed. However, he never read the inspection report!
What home inspection report methodology works best – narratives or checklists? Many home inspectors have varying views on this issue, but I provide a logical assessment in support of one of these methods from a legal perspective.
Should you allow a prospect’s attorney to line out the requirement in your inspection agreement about binding arbitration or the one that claims must be filed within one year of the home inspection?
Insurance companies will sometimes pay a claim to a homeowner and THEN try to recover the financial losses from the home inspector through a process called subrogation.
There is a current television show whose host maligns home inspectors for not discovering defects he was only able to discover through using a sledgehammer and other intrusive means.