If you are a business or individual who conducts appraisals on real estate properties it is vital to have the proper insurance in force. While there are a number of plans available through commercial insurance agencies and brokerages, it is important for home inspectors to obtain an in-depth knowledge of these plans available as well as the limits that are associated with them in order to become fully protected in the event of a lawsuit or claim. Professional liability for home appraisers also referred to as appraisers error and omissions insurance, covers the inspector for unintentional negligent acts that arise from the services they offer the community. With the recent rise in claims within the past years, appraiser’s errors & omissions insurance has become a necessity in the field. Knowing what this insurance plan covers, and how you will be rated will give you the knowledge you need to make an educated purchase.