Professional Indemnity Insurance is an important consideration for Building Inspectors, but other insurance may also be relevant depending on how the business operates.

These can include:

• Public Liability Insurance: Can provide protection against certain claims for personal injury or property damage arising from your business activities. This is particularly relevant when entering client properties or attending inspection sites.
• Business Insurance: Can provide cover for business property such as computers, cameras, mobile devices, ladders and other equipment, depending on the policy selected.
• Cyber Insurance: Can help protect against cyber incidents, data breaches and other cyber risks. Building Inspectors may hold client information, property information and inspection reports electronically.
• Commercial Motor Insurance: May be relevant where a vehicle is used as part of the business, particularly where its use differs from ordinary private use.
• Personal Accident and Illness Insurance: May be worth considering for sole traders and business owners who rely on their ability to work to generate income.
• Management Liability Insurance: May become relevant for incorporated businesses, particularly those with employees or multiple directors.
• Workers Compensation Insurance: Businesses employing workers may have compulsory Workers Compensation obligations. Requirements vary between states and territories.

The right combination of insurance will depend on your business structure, employees, equipment, vehicles, contracts and inspection activities.

Contact our team if you would like help reviewing the exposures associated with your Building Inspector business.