<ul><li>The Nation’s “Premier” Property Inspection Company </li></ul><ul><li><phone> </li></ul><ul><li>Inspectit1st.com </...
<ul><li>Offering peace of mind backed with 16 years of experience. </li></ul><ul><li>Respected national brand. </li></ul><...
Insurance… <ul><li>3 Types…General Liability, for  Property damage and personal injury </li></ul><ul><li>Professional Liab...
Insurance… <ul><li>3 rd  Party indemnity (referral).  Protects the Broker, Realtor, title company, attorneys, lending inst...
Insurance… <ul><li>Realtors and Clients  assume  they’re protected when if fact they are not </li></ul><ul><li>Protection ...
OSHA Compliance… <ul><li>Managing risk begins with training </li></ul><ul><li>30-hour OSHA outreach program for constructi...
Claims History by System <ul><li>32%-Structure </li></ul><ul><li>18%-Roof </li></ul><ul><li>12%-Water Penetration </li></u...
Claims Interval <ul><li>60%-within 12 months </li></ul><ul><li>80%-within 18 months </li></ul><ul><li>90%-within 24 months...
Inspect-O-House of Florida (fictitious name, real info) Number of inspections and years of experience?  Over 36,000 combin...
Member Requirements Requirements to Become a Certified Under-insured building inspector:  In order to ensure the highest q...
Risk Management…what are our options? <ul><li>Realtors can reduce their liability by referring the right inspector and bei...
The Inspect-It 1 st  Difference <ul><li>Your clients expect and deserve the best property </li></ul><ul><li>inspection mon...
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Insurance Presentation

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Insurance Presentation

  1. 1. <ul><li>The Nation’s “Premier” Property Inspection Company </li></ul><ul><li><phone> </li></ul><ul><li>Inspectit1st.com </li></ul><ul><li><website>.com </li></ul>
  2. 2. <ul><li>Offering peace of mind backed with 16 years of experience. </li></ul><ul><li>Respected national brand. </li></ul><ul><li>Unrivaled customer service and support. </li></ul><ul><li>Over 15 billion $$ worth of property inspected. </li></ul><ul><li>Our goal is simple…to provide the right balance of technical detail and business sensitivity, to the art and science of property inspection </li></ul><ul><li>We carry errors and omissions, general liability, and NARREP sponsored 3 rd party indemnity to protect our valuable referral sources. </li></ul><ul><li>FREE 90-day buyers/120-day sellers warranty </li></ul>The Inspect-It 1 st Difference
  3. 3. Insurance… <ul><li>3 Types…General Liability, for Property damage and personal injury </li></ul><ul><li>Professional Liability (E&O), for errors/omission in your report that lead to property damage/injury or loss </li></ul><ul><li>Many inspectors don’t carry E&O, some estimates as high as 90% </li></ul><ul><li>WHY? Inspection agreement language…liability limited to the cost of the inspection, and money back guarantees. Inspection agreements are NOT bulletproof! </li></ul>
  4. 4. Insurance… <ul><li>3 rd Party indemnity (referral). Protects the Broker, Realtor, title company, attorneys, lending institutions, relocation companies, etc. from wrongful referral. </li></ul><ul><li>2 Types of policies…Claims made…cheaper alternative. Coverage provided for claims made during policy period only. Must keep current or all is lost. Must purchase prior acts coverage if switching carriers. </li></ul><ul><li>Occurrence…provides coverage for a covered act which takes place during the policy period and for 4 years thereafter. More expensive initially, vastly superior, long-term protection. </li></ul>
  5. 5. Insurance… <ul><li>Realtors and Clients assume they’re protected when if fact they are not </li></ul><ul><li>Protection and peace of mind should never be an empty promise. Why? What do we sell? </li></ul><ul><li>The American Dream </li></ul><ul><li>It’s our obligation and commitment as real estate professionals to do everything in our power to keep that dream from becoming a nightmare. </li></ul>
  6. 6. OSHA Compliance… <ul><li>Managing risk begins with training </li></ul><ul><li>30-hour OSHA outreach program for construction </li></ul><ul><li>Respiratory protection </li></ul><ul><li>Confined space training </li></ul><ul><li>Safety equipment </li></ul>
  7. 7. Claims History by System <ul><li>32%-Structure </li></ul><ul><li>18%-Roof </li></ul><ul><li>12%-Water Penetration </li></ul><ul><li>8%-Termite </li></ul><ul><li>6%-HVAC </li></ul><ul><li>5%-Plumbing </li></ul><ul><li>5%-Interiors </li></ul><ul><li>5%-Other </li></ul><ul><li>4%-Pool </li></ul><ul><li>2%-Exterior </li></ul><ul><li>2%-Electrical </li></ul><ul><li>1%-Appliances </li></ul><ul><li>Source: Allen Insurance Group </li></ul>
  8. 8. Claims Interval <ul><li>60%-within 12 months </li></ul><ul><li>80%-within 18 months </li></ul><ul><li>90%-within 24 months </li></ul><ul><li>99%-within 36 months </li></ul><ul><li>Source: Allen Insurance Group </li></ul>
  9. 9. Inspect-O-House of Florida (fictitious name, real info) Number of inspections and years of experience? Over 36,000 combined inspections representing more than 40 years of combined inspection experience.   Qualifications & certifications? Certified ASHI inspectors (American Society of Home Inspectors) Certified FABI inspectors (Florida Association of Building Inspectors) Professional engineers Certified general contractors (CGC #??????) Members of the SBCCI (Southern Building Code Congress) Certified 203K consultants (HUD)   Inspection scheduling? Flexible scheduling 7 days a week Administrative back up? Full service office 8:30 - 5:30 Monday through Friday 24 hour answering service back up Use web site to request an inspection or ask questions Insurance carried? General Liability Insurance
  10. 10. Member Requirements Requirements to Become a Certified Under-insured building inspector: In order to ensure the highest quality inspectors for all CUBI users, CUBI is committed to supporting all organizations dedicated to the home inspection profession. To be a CUBI-approved inspector, inspectors must have at least the following: 1. 250 full fee-paid inspections 2. General Liability Insurance (min. $300,000) 3. Have been in business at least 2 years 4. Have passed the National Home Inspectors Examination or Equivalent 5. Have maintained at least 12 hours minimum continuing education hours annually 6. Inspectors must also sign and notarize a Criminal History Affidavit and fax to 888.331.0716. Master Building Inspector, ASHI and NAHI members meet the requirements of CUBI. Once you have registered, the Criminal History Affidavit will be emailed to you. Click Here to register today. If you have any questions please Click Here
  11. 11. Risk Management…what are our options? <ul><li>Realtors can reduce their liability by referring the right inspector and being named as an additional insured. </li></ul><ul><li>Inspectors mitigate their liability risk by following state or trade association requirements, having the right insurance, and obtaining the right training </li></ul><ul><li>Proactively reducing your liability is better than trying to limit or shield liability contractually (although a good contract and good insurance are very important) </li></ul><ul><li>While past performance is not a guarantee for the future, it’s a powerful indicator. Inspect-It 1 st has performed over 150,000 inspections without a lawsuit </li></ul>
  12. 12. The Inspect-It 1 st Difference <ul><li>Your clients expect and deserve the best property </li></ul><ul><li>inspection money can buy. Please remind </li></ul><ul><li>them... </li></ul><ul><li>Before they buy or sell... </li></ul><ul><li>Inspect-It 1 st </li></ul><ul><li>Our Warmest Thanks! </li></ul>
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