What type of insurance must licensed home inspectors maintain?

Licensed home inspectors are required to maintain a certificate of liability coverage as part of their professional standards. This type of insurance ensures that home inspectors are financially protected in the event that a claim arises against them due to negligence, errors, or omissions during the inspection process. Having this coverage not only safeguards the inspector's financial interests but also enhances their professionalism and credibility in the eyes of clients and regulatory authorities.

Liability insurance is fundamental in the home inspection industry because it covers potential legal costs arising from claims that may result from oversight. This requirement helps to instill confidence in clients who are entrusting their home-buying decisions to the inspector's assessments. It protects both the inspector and the client by providing a safety net when issues may arise after a home inspection is conducted.

Other forms of insurance, such as general liability or workers' compensation, while important in other contexts, do not fulfill the specific requirement for licensed home inspectors under the New York State regulations. Therefore, maintaining a certificate of liability coverage is seen as a critical component of operating legally and responsibly within the profession.