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Even finished homes may pose a hazard to ones health and safety. It is also wise to be careful in an occupied home to prevent damaging the owners possessions. |
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Homes under construction may not be the safest place to visit. Extreme caution must be the rule when in an unfinished building. |
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· Are Inspectors Bonded and Insured? Inspectors are not required by law to be bonded and insured. The Texas Real Estate Commission has set up what is called a recovery fund to aid consumers in monetary claims against Inspectors. If an Inspector has a judgment placed against him by a court, and the Inspector cannot pay, the Real Estate Commission can issue limited funds to offset the judgment. See the Texas Real Estate Commission Website for detailed information. · Is it a good idea for your Inspector to be insured? The question of insurance is always answered by “ How much risk to you wish to assume?” Since the Inspector is acting on your behalf, you may find yourself liable for damages or injury that could occur during the inspection. You may wish to have the inspector carry their own insurance to cover such incidences. · How much Insurance is enough? The amount of insurance coverage is a function of premium cost for limit per occurrence and annual aggregate. Some inspectors may have no insurance, very little coverage such as $100,000, or up to $1,000,000 in coverage. · How many types of Insurance are there? Some inspection firms will carry a liability policy only, while others will add a professional liability policy (E and O). Ask the inspection company what coverage they carry.
For your protection Brookside Inspection Services has procured the following insurance coverage:
· Commercial General Liability Aggregate: $1,000,000
Occurrence: General $1,000,000 Personal/Advertising Injury $1,000,000 Medical Payments $1,000,000
· Professional Liability $1,000,000
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