Does a home inspector have to be bonded?

Friday, July 5, 2019

Many states have no minimum insurance requirements for home inspectors. For the ones that do, it is usually general liability or errors and omissions insurance, or both, in amounts from $100,000 to $500,000. The only state that we know of that specifies a surety bond is North Carolina, and it is only necessary if the inspector chooses not to carry errors and omissions insurance or provide proof of meeting a minimum assets standard.

    A surety bond effectively guarantees an amount of money that will be provided by the insurance company to meet an obligation of the insured, such as due to a lawsuit. It is often required of building contractors in an amount so that the funds to complete a contracted project will be available if the contractor defaults. Home inspectors generally have short-term obligations to the customer, which are fully covered by general liability and errors and omissions insurance, and a bond is unnecessary.

    The approximately 23,000 members of the International Association of Certified Home Inspectors (InterNACHI) provide a slightly different type of bond to their customers that they receive as part of their membership. InterNACHI calls it an “Honor Guarantee,” but it is technically a fidelity bond, and guarantees payment for any theft of personal property by an InterNACHI member during a home inspection.

    Also, see our blog post How can I check to be sure a home inspector is licensed?

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Here’s links to some of our other blog posts about HOME INSPECTION:

The home inspector says I have construction defects. How did my home pass inspection by the building department? 

Does the seller have to make a repair requested by the homebuyer, even if the home inspector did not call it out as a defect?

The one home inspection question we get asked most often: "Will that be in the report?" 

Does  a homebuyer need to ask the seller's permission to do additional inspections after the initial one?

Do home inspectors inspect barns and other agricultural buildings on a farm? 

What is the difference between a structural defect and a cosmetic defect?

Can a Florida licensed contractor do home inspections without having a home inspector license? 

Do home inspectors inspect outbuildings?

Does a home inspector give cost estimates for repairs?

The seller gave me a report from a previous home inspection. Should I use it or get my own inspector?  

Who should pay for the home inspection?

Do I need a home inspection to get insurance?

I can't find a local home inspector. What should I do? 

Do home inspectors test the appliances?

Should I trust the Seller's Property Disclosure Statement? 

What makes a house fail the home inspection?

Can a home inspector do repairs to a house after doing the inspection? 

What are the requirements for a room to be classified as a bedroom?

Do home inspectors lift up the carpet to look for cracks in the floor? 

What can I learn from talking with the seller?

What is the difference between a home inspection and a final walkthrough inspection? 

Do home inspectors go on the roof? Do they get in the attic?

What are the questions a home inspector won't (or shouldn't) answer?

Should a home inspection scare you? 

What questions should I ask the home inspector during the inspection?

What should I bring to the home inspection? 

Does my home inspection report give me everything I need to evaluate the price of a house? 

Should I hire an engineer to inspect the house?

How can I find out if all the home improvements had a building permit? 

Does a home inspector make sure the house is up to code?

     Visit our DOES A HOME INSPECTOR…? page for other related blog posts on this subject, or go to the INDEX for a complete listing of all our articles.

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