Any way around buying required insurance for safeguard? - REO Property Preservation Forum
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post #1 of 16 (permalink) Old 03-11-2013, 12:30 AM Thread Starter
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Any way around buying required insurance for safeguard?

Safeguard has a ton of work in my area of Oswego and Onondaga counties in NY but they want me to buy from their insurers and I am already insured. I can see why they've done it but it seems really unnecessary.
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post #2 of 16 (permalink) Old 03-11-2013, 05:36 AM
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I can see why they've done it but it seems really unnecessary.
Why do you believe they require it?
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post #3 of 16 (permalink) Old 03-11-2013, 06:12 AM
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then they would loose their kick backs
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post #4 of 16 (permalink) Old 03-11-2013, 06:54 AM
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no way around it. If you what to work for safeguard you must use the 3 companies. I heard a couple other nationals are switching to that same thing.
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post #5 of 16 (permalink) Old 03-11-2013, 07:46 AM
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We carried an additional policy thru York Jersey check cashing company. That is all they ever did for us. After 7 years or so of playing that game we cancelled and kept our policies local and thru trusted agents. We would get the occassional letter and email and phone call telling my to insure thru XXX or else. Never cut off from receiving work for the most part because at the time they couldn't find anyone else who was dependable and would cover what they needed. Not only did I save thousands per year in useless policies, ironically, I no longer had any claims made against me. Funny how that worked....

FYI- If you want more work from them, you may need to walk their line and buy from their BIL or golf buddy. Regardless, always have good insurance in place.
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post #6 of 16 (permalink) Old 03-11-2013, 10:12 AM
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Call your state insurance department for guidance; i did call NC Department of Insurance, they basically said, Safeguard can "recommend" you to use any NUMBER of insurance companies they want; be it 3 or 300--it is UP to the business owner to deciede to use their own insurance company or go with one of Safeguards "recommended" insurance companies.

I would think that the insurance companies would be "independent" parties in the process HOWEVER, if Safeguard is funneling business to insurance company A, I am cautious of insurance company A's loyality.

Mark Francis
President and CEO
Blue Granite Property Preservation Services, Inc
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post #7 of 16 (permalink) Old 03-11-2013, 12:39 PM
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If you're in the middle of a current policy let Safeguard know that and your recruiter CAN make an exception for you, at least until that policy's expiration date. Like GTX63 I carry an additional policy with York Jersey, it cost me about $500 and the way my insurance agent explained it is that it includes coverage for Safeguard to issues chargebacks up to 5 years after my policy in cancelled.
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post #8 of 16 (permalink) Old 03-11-2013, 01:08 PM
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Good luck to you....
I would procede with extreme caution doing any business wioth SG...for some reason they have gotten a VERY big head. Usually when that happenes, something bad is rolling down the road....

Aladay LLC
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post #9 of 16 (permalink) Old 03-11-2013, 01:23 PM
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Quote:
Originally Posted by ontimepres View Post
If you're in the middle of a current policy let Safeguard know that and your recruiter CAN make an exception for you, at least until that policy's expiration date. Like GTX63 I carry an additional policy with York Jersey, it cost me about $500 and the way my insurance agent explained it is that it includes coverage for Safeguard to issues chargebacks up to 5 years after my policy in cancelled.
This is probably just me but who willingly enters into an agreement with a company knowing they can come back after you five years after the fact? I'm justing thinking out load here, but Bleach and Kilz on mold five years later? Little Johnny might be pretty damn sick by then......



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post #10 of 16 (permalink) Old 03-11-2013, 08:14 PM
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Quote:
Originally Posted by Zoly View Post
Safeguard has a ton of work in my area of Oswego and Onondaga counties in NY but they want me to buy from their insurers and I am already insured. I can see why they've done it but it seems really unnecessary.
Wind up and get prepared to be thrown under the bus. When you go to their companies they will put in verbage that makes your insurance primary and theirs secondary. When yours has been maxed out and you are flat Azz broke look back to this warning . Watch for wording like this. I have had another national request they change the verbage to something similar to above. No, NOPE not goin to happen... Go away ..... scram ...... Vamanos
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