How much does insurance cost for home inspectors?

Home inpectors pay an average of $82 per month, or $989 per year, for errors and omissions (E&O) insurance.

Errors and omissions insurance covers defense costs related to professional negligence, such as missing a water leak. It's sometimes called professional liability insurance.

This is the average coverage and pricing for home inspectors who buy an E&O policy from Insureon:

Premium: $82 per month
Policy limits: $1 million per occurrence; $1 million aggregate
Deductible: $1,000

The cost of errors and omissions insurance (or E&O) depends on factors such as the coverage limits you choose, the size of your business, and the home inspection services you offer. Find out how E&O insurance premiums are set and how to save money on your policy.

Home inspectors pay an average of $45 per month, or $545 per year, for general liability insurance, sometimes called public liability insurance. Some home inspection businesses need proof of insurance for this policy to sign a commercial lease or a client contract.

A general liability policy can pay for medical expenses from third-party injuries, such as a homeowner who trips on a ladder and breaks their leg. It also covers costs if someone sues your business over a bodily injury, property damage, copyright infringement, or advertising injury.

This is the average policy for home inspectors who buy from Insureon:

Premium: $45 per month
Policy limits: $1 million per occurrence; $2 million aggregate
Deductible: $0

The cost of a general liability insurance policy depends on factors such as the coverage limits you choose, the size of your business, the amount of foot traffic you have, and any subcontractors or additional insured endorsements.

Learn more about how your premium is calculated and how to save money on your general liability policy.

Home inspectors pay an average of $49 per month for workers’ compensation insurance, or $589 annually.

Workers' comp helps pay for medical costs from work-related employee injuries and illnesses. Even when it's not required by law, self-employed contractors often buy this coverage for financial protection against job injuries, which personal health insurance could deny.

Most policies include employer's liability insurance, which covers the cost of lawsuits related to workplace injuries. There's usually no limit to how much a workers' comp policy can pay for employee benefits, though it depends on state laws.

The cost of a workers' compensation policy depends on factors such as the number of employees you have and the type of work they do. Learn more about how workers' comp costs are calculated and how to save money on your policy.

Home inspectors pay an average of $74 per month for a business owner's policy, or $891 annually. Only small, low-risk businesses are eligible for a BOP.

A BOP is an insurance package that bundles two important types of coverage at a discount. It includes general liability coverage to protect against common lawsuits, and commercial property insurance to cover vandalism, theft, and property damage.

This is the average business owner's policy for a home inspector who buys from Insureon:

Premium: $74 per month
Policy limits: $1 million per occurrence; $2 million aggregate

The cost of a business owner's policy depends on factors such as the insurance options you choose, the size of your business, the amount of foot traffic you have, and the value of your business property.

Real estate businesses pay an average of $160 per month, or $1,924 per year, for commercial auto insurance.

Most states require this coverage for vehicles owned by a home inspection company. For leased, rented, and personal vehicles used by your business, look to hired and non-owned auto insurance (HNOA) instead.

A commercial auto insurance policy covers financial losses in the event of an accident involving your business vehicle. It can help pay for property damage, medical bills, and legal expenses. When buying a policy, you'll need to make sure your coverage limits match the requirements in your state.

The cost of a commercial auto policy depends on your coverage needs, the value of the vehicle, and your insurance claims history. Learn how insurers calculate your premium and how to save money on your commercial auto policy.

Small businesses pay an average of $14 per month for tools and equipment insurance, or $170 annually.

A form of inland marine insurance, this policy covers your property whether it’s in your office, in transit, or at a jobsite. Tools insurance can pay for lost, stolen, or damaged tools and equipment valued at $10,000 or less.

The cost of tools and equipment coverage depends on the value of your tools and equipment and the type of work you do.