Errors and Omissions Coverage - HIABC Professional Insurance Plan (PIP)

Errors and omissions coverage is only a part of what the HIABC Insurance Plan offers its members.

HIABC Professional Insurance Plan (PIP) – Errors & Omissions Coverage

HIABC Professional Insurance Plan (PIP) since 2004

Developed by Home Inspectors for Home Inspectors

The Home Inspectors Association owns and manages the Professional Insurance Plan to meet BC home inspector license requirements for Errors & Omissions coverage and to assist members with complaints and possible claims.

Errors & Omissions coverage is only a part of what the Plan offers its members. Full-time service is provided to members by a full-time Plan Administrator and committee of seasoned inspectors to reduce the cost of coverage and to provide support with complaints and potential claims. Other services complimentary to the Plan include:

  • Legally drafted Standard Client Contracts
  • Reduced member rate for Comprehensive General Insurance (CGL)
  • Dedicated Plan Administrator to contact for Complaint and Potential Claim Handling and Support – contact: [email protected]
  • The Plan Administrator will work with both the inspector and their client to resolve an issue if at all possible
  • Competitive Rates
  • Member Deductible  * The member deductible applies to settlement costs only, not legal fees.

The HIABC Professional Insurance Plan is an exclusive benefit for HIABC member inspectors. Its purpose is to protect members while providing a fair process to help consumers resolve complaints and determine responsibility when issues arise.

MEMBER INSURANCE PLAN QUESTIONS & ANSWERS

The Plan is not your typical E&O coverage. It is a self-funded, non-profit Errors and Omissions Plan formed by home inspectors for home inspectors.

The Plan Mission Statement is:

To promote the home inspection profession; to support and defend Plan members who are the subject of legal action; and to pay the costs of such legal action within the limits of the Plan.

Any home inspector in good standing with the Home Inspectors Association BC and approved by the Plan.

Yes, both you and your company are covered.

Yes, we can provide coverage for prior acts (retroactive coverage). We will need proof that there has been continuous E&O coverage prior to your application for coverage.

Premiums are never increased as a result of a claim. All members pay the same premium. However, if a member demonstrates a pattern of complaints or claims and is not meeting the required standards or taking steps to improve their report writing and inspection practices, they may receive notice that their coverage will not be renewed. This notice is typically provided two months prior to renewal.

Yes, you may choose to pay the premium in full, semi-annually or monthly.  Monthly payments are a member benefit and two returned NSF payments will affect the members ability to remain on the monthly payment schedule and the member will be invoiced for the full balance owing for the year.

Simply contact the HIABC Professional Insurance Plan (PIP) Administrator, who will provide you with all the information you need to get started.

Plan member portion is $2500. This sum is payable towards settlement costs only.

The HIABC Professional Insurance Plan is based on a ‘home inspector’s perspective’. Our legal counsel and staff understand the key elements of the inspection process and its limitations. Remember, the Plan was developed by home inspectors for home inspectors only. Plan Members are all home inspectors.

Support begins the moment you need it. If you receive a complaint or become aware of a potential claim, simply contact HIABC’s Professional Insurance Plan (PIP) Administrator, Monica Bodger. She will work with you and your client to help resolve the issue before it escalates whenever possible. There is no cost for this assistance.

No, there is no limit to the number of inspections you perform.

At no additional cost, the HIABC Plan covers Commercial and WETT inspections, Mould and Water sampling for 3rd party testing, and Thermography for qualified home inspectors, with current certification on file.

Two coverage options are available. Please contact the HIABC office [email protected] for current rates and coverage details.

Once we receive your completed and signed application and payment, we’ll confirm your coverage.

Contact the Home Inspectors Association BC office today – [email protected]   250.491.3979