TN Home Inspector’s Professional Liability Insurance Requirements
As we understand, the Tennessee Department of Commerce and Insurance (www.tn.gov) requires home inspectors to provide proof of general liability and professional liability/errors and omissions (E&O) insurance in order to maintain their license. The general liability insurance must have a minimum limit of $500,000. The professional liability/errors and omissions insurance does not have a specified minimum limit requirement.
Professional liability insurance is the proper insurance to protect a home inspector for claims arising from performing professional services in a negligent manner or failing to exercise ordinary care under the circumstances or failing to act as an ordinarily prudent person would have acted.
General liability insurance also offers important protection for your operati
ons not involving professional services. Within this type of coverage, there is protection for bodily injury or property damage caused to a third party, while in the course of operating your business.
For more information, you can visit the Tennessee Department of Commerce and Insurance page advising of the rules pertaining to Home Inspectors. Also, feel free to contact us with any questions.
For more information regarding professional liability and general liability for home inspectors, please click here.
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