Illinois Association of Home Inspectors (www.iahi.pro)
Part of the Home Inspector License Act and Administrative Rule is the insurance requirements below.
Sec. 5-50. Insurance.
A. All applicants for a home inspector license and all licensees shall maintain general liability
insurance in an amount of not less than $100,000.
B. Failure of an applicant or a licensee to carry and maintain the insurance required by this
Section, to timely submit proof of coverage upon the Department’s request, or to timely
report any claims made against such policies of insurance shall be grounds for the denial of
an application to renew a license, or the suspension or revocation of the license.
C. The policies of insurance submitted by an applicant for a new license or an applicant for
renewal of a license must include the name of the applicant as it appears or will appear on
the license.
D. A home inspector shall maintain the insurance required by this Section for at least one year
after the latest home inspection report the home inspector delivered.
E. The Department may adopt rules to implement this Section.
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What type of Programs we help with
General liability insurance (GLI) is sometimes called business liability insurance or commercial general liability insurance. This type of liability insurance coverage helps protect your business from claims that it caused bodily injuries or property damage to others. Without general liability coverage, you’d have to pay for these claims out of pocket.
Liability insurance coverage helps protect you from costly general liability claims that can happen during normal business situations, such as:
You or your employees representing a client
Meeting with clients face to face
Working on or with another person’s property
Using third-party locations for business activities
Advertising your business
You may also need this coverage if your clients request it. Many clients want to confirm you have general liability coverage before they sign a contract with your business. You can prove you have general liability insurance with a certificate of liability insurance. Get increased protection for your business with commercial auto insurance to cover you, your employees and the vehicles you operate, lease, rent or own.
Is General Liability Business Insurance Required by Law?
State laws don’t usually require business owners to carry general liability insurance. But it’s still a good idea to have this liability insurance coverage. If a customer sues your business and you don’t have coverage, it can put your business’ finances and your personal assets at risk.
It’s important to understand your state’s insurance laws. Work with a local insurance agency or our dedicated small business insurance team to help you choose the right business liability insurance.
Professional liability insurance helps cover you and your company if you make a mistake in the professional services given to a customer or client. This coverage is also known as errors and omissions insurance (E&O). Even if you’re an expert in your business, mistakes happen. And if your client or customer thinks a mistake in your professional services caused a financial loss, they can sue you.
What Does Professional Liability Insurance Cover?
Professional liability insurance for small businesses helps cover claims of:
Negligence
Misrepresentation
Inaccurate advice
Personal injury, like libel or slander
Even if you didn’t do anything wrong, your client can still sue your business if they believe you’ve made a mistake. Without coverage, you’ll have to pay expensive legal defense costs out of pocket.
How Professional Liability Insurance Works
What Is Workers’ Compensation Insurance Coverage?
- Cover medical care and medical treatment
- Replace most of their lost wages if they take time off from work to recover
- Provide disability benefits
- Give death benefits, like helping pay for a funeral if they lose their life in a work accident or from a job-related illness
How Does Workers’ Compensation Work?
- Trip while walking up the stairs in your office
- Develop carpal tunnel syndrome from poor typing habits
- Get hurt in a car accident on their way to visit a client