§ 5-65.1-10. Insurance requirements.
(a) Every licensed home inspector and associate home inspector shall secure, maintain,
and file with the board a certificate of insurance for an errors and omissions policy
and a certificate of insurance for a general liability policy; both shall be for a
minimum amount of five hundred thousand dollars ($500,000) in the aggregate. These
certificates must be valid from the date a license is issued until the license expires.
This proof shall be deemed satisfactory if the policy is carried by the corporation,
partnership, or franchise for which the home inspector is a contracted employee and
the h
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§ 5-65.1-10. Insurance requirements.
(a) Every licensed home inspector and associate home inspector shall secure, maintain,
and file with the board a certificate of insurance for an errors and omissions policy
and a certificate of insurance for a general liability policy; both shall be for a
minimum amount of five hundred thousand dollars ($500,000) in the aggregate. These
certificates must be valid from the date a license is issued until the license expires.
This proof shall be deemed satisfactory if the policy is carried by the corporation,
partnership, or franchise for which the home inspector is a contracted employee and
the home inspector or associate home inspector is specifically covered by such policy.
(b) Every proof of an errors and omissions or general liability policy required to be
filed with the board shall not be effective unless it provides that the insurance
may not be canceled until at least ten (10) days' notice of intention to cancel or
to not renew has been received in writing by the board.
(c) No contract provided by any licensed home inspector or associate home inspector shall
contractually limit the liability of any such inspector to any amount less than the
limits of insurance specified in subsection (a). Any such limitation provision in
any home inspection contract issued on or after September 1, 2016, shall be void.
(d) Failure of the licensee or corporation or partnership to maintain this insurance will
result in the immediate loss of his or her license.