Insurance inspector insurance

Assessment. It’s your strong suit.

But what if someone gets hospitalized after tripping over your inspection equipment? Or you knock over a priceless sculpture when you’re doing a valuation?

It’s not difficult to assess the financial damage a claim could do.

You value your business, so make sure it’s protected. With general liability insurance.

• Why do insurance inspectors need general liability insurance?

  Because you can be sued, even if an accident wasn’t your fault. And lawsuits cost. A lot.

  If your case goes to court and gets drawn out, you’re looking at legal bills of 5, maybe even 6 figures. Without the right insurance, how will you cover that?

  Even if a claim is baseless, general liability insurance can pay medical bills, replacement costs and legal fees. It can pay for compensation, too, if it turns out you’re at fault.

  So, why do you need general liability insurance? It’s simple. Because you don’t have bottomless cash reserves and you value your business.

• What does general liability insurance for insurance inspectors cover?

  So long as the claim’s filed in the United States, its territories, or Canada, general liability insurance covers claims for:

  • Third party bodily injury – slips, trips, or falls can cost thousands in medical bills, even for injuries that seem minor. Your policy can cover medical costs if someone (that’s anyone other than you, or one of your employees) gets hurt while you’re working.
  • Third party property damage – repair or replacement costs can be huge. Your policy covers damage caused by you, and your full-time, or temporary, staff. It includes damage caused by fire to premises you rent, too.
  • Personal injury – Slander or libel claims can seriously damage your reputation. The defense costs can also seriously dent your bank balance.

  When a claim’s filed against your business, there are often hidden costs involved. Your general liability policy takes care of these, too. Including up to $250 a day for loss of earnings and interest on compensation awards.

  Claims take their toll. On your time, as well as your money. Having the right insurance means your firm’s finances are protected. So you can get on with running it.

  Here’s a full summary of what’s covered.

• How much does general liability insurance cost?

  Our general liability policies for insurance inspectors start from $270 annually. Or you can spread the cost and pay monthly. Whatever works for you.

  As for the amount of cover you need, it’s best to over-estimate. Think worst-case scenario. But just make sure you pick a figure you can realistically afford.

• What other policies do insurance inspectors need?

  • General liability insurance – General liability insurance doesn’t cover professional mistakes you make when you’re carrying out inspections. Even if a claim is groundless, professional liability insurance can pay your legal fees plus compensation, if you’re liable.
  • Cyber liability insurance – You’ll want cyber coverage if you use email, own a website, or store client data. It won’t stop an attack. But it can pay your recovery costs so your business survives one.
  • Business personal property insurance - from your furniture to your potted plants.
  • Workers’ compensation insurance – Even if you only have one employee most states require you to have workers’ comp insurance. But it’s a good policy to have anyway. It protects your business from the crippling cost of workplace illness and injury claims.
  • Business owner’s policy (BOP) – A bundle of the basic policies a business owner needs, a BOP includes general liability, property, business interruption and cyber insurance. Tailor it to your needs -- just add in what you want and take out what you don’t. It works out cheaper than buying the policies separately, too.

  But we can build an insurance package to suit your business. What’s more, it’ll only take a few minutes.