Why HomeAppraised Uses Only Insured Appraisers (It Matters)

Why It Matters That Smart Appraisers Have Insurance

When you get an appraisal from HomeAppraised, you want certainty, not risk. Because of this, appraisers must have professional liability insurance and errors and omissions (E&O) coverage. If something goes wrong, it protects the appraiser, you, and .

In Canada, the is decided by home appraisers. This is an important role! As with many jobs, though, things can go wrong. Appraisers need insurance because of this.

What Could Go Wrong?

Sometimes an appraiser will miss something when examining a house. They might make a mistake in their math. Or they can fail to see . These mistakes might cause people to lose money.

The Significance of Insurance for Homeowners and Appraisers

• Protection against mistakes:
• Credibility to lenders:
• Consumer peace of mind:
• Regulatory compliance in Canada:

The Benefits of Insurance

If an appraiser makes a mistake, insurance helps pay for it. The appraiser's business is saved as a result. Additionally, it helps the homeowner who might have lost money due to the mistake.

Banks and home sellers typically prefer certified appraisers. Having insurance shows that you are dedicated to your job. In many parts of Canada, appraisers must be insured to carry out their work.

Types of Insurance Requirements 

Appraisers are required to carry insurance that covers errors committed while performing their duties. They also need insurance for their place of employment. To cover computer issues, some people even get specialized insurance.

Insurance is more than simply an expense. It supports appraisers, allowing them to keep assisting Canadian homeowners in assessing the worth of their homes.

Story / Example

An online appraisal company (not HomeAppraised) was utilized by a homeowner in Ontario. Their was lowered because the report failed to notice a hidden foundation crack. The appraiser accepted a re-inspection and provided a corrected report at no extra expense because they were insured. For homeowners, this type of liability protection is quite valuable. Homeappraised offers accurate appraisal reports as they have certified and insured appraisers. 

About the Author

Written by the HomeAppraised TeamAt HomeAppraised, we have certified and insured appraisers across Ontario to deliver fast, accurate appraisal reports online. We believe trust is essential, not optional.

Disclaimer

This article is for general informational purposes. HomeAppraised offers online appraisal reports, but final acceptance rests with your lender and jurisdictional regulations.

FAQs

Q1: What is “professional liability insurance” for appraisers?If an appraisal error results in damage, this coverage shields appraisers (and therefore homeowners) against lawsuits or monetary losses.

Q2: Does HomeAppraised work with insured appraisers?

Indeed, we exclusively collaborate with certified appraisers who, as part of their professional status, are required to carry liability insurance.

Q3: What happens if an appraisal mistake causes problems with my loan?

The insurance can pay for repairs or damages if an insured appraiser's mistake impacts your results, providing you with both financial and legal security.

Q4: Can an uninsured appraiser be trusted?

While technically possible, using an uninsured appraiser carries a higher risk — no recourse if errors or omissions come up.

Don't risk the value of your house. Get a quick, certified, insured appraisal report online with HomeAppraised; there are no visits or waiting periods, only assurance.