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I am getting into p&p and was wondering what is the best insurance company out there? Some of the nationals want you to have E&O, some dont. Some even want you to buy from there insurance company list, that is bs. So i guess the question is what insurance company do you use, how are they, and with or without E&O. Do my subs need the same insurance as me?

Thanks
Tara
 
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That was a sound Intro there. I'll be happy to answer any insurance questions after your intro is completed. :)
 

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Do subs need to have insurance??? Really seriously??? You are new. Do you own a house and if sued do you want to keep it?? First Insurance is like fall protection you don't want to have it or use it ! But if you need it you want the RIGHT kind in place. A KNOWLEDGEABLE contractor insurance agent will be able to answer ALL your questions. If you don't have GL contractor insurance be sitting down. Ever since 911 the insurance industry has been REALLY harsh on new contractors and even ones in business that have never had a claim. If you have good credit own a house and such you will not need to supply the lube. Bankruptcy and other red flags are going to kill you in premiums.
SUBS need to give you a certificate naming you as a additional insured. PERIOD and be insured at the same limits as you.

E&O this is a BS scam from the nationals but they require it. Keep in mind your best tool is a external hard drive to back everything up on, approvals for removing personal property, photos and such. In my state the property owner has 5 YES 5 years after being out of their property to file legal proceedings. LET the national approve the personal property to be removed. If they say yes remove because they don't see any personals they assume liability. We don't make enough to be hung out to dry by them. AND YES THEY WILL HANG YOU !! Their lawyers don't advise you they just will look out for their client. I hope you are starting to get the point. after being involved in 2 suits I let the nationals in TEXAS take ALL the liability on personals. You'd look at some things and think "really you consider that personals" I was told if it was EVER PURCHASED it is personal property !!
 
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Nice post Splinter!

ALL contractors in P&P are so naive! The liability windows are being squeezed shut on all the Service Companies and the dodo runs downhill.

Its not necessarily the "fault" of the P&P contractor but the lack of knowledge and this lack of knowledge WILL kill business.....It is imperative that the contractor KNOW insurance laws/policy...how many do? Very dang little and the banks/service companies prey on this.

Example:
Carpets are now generally considered personal property by most insurance companies. So, you removed carpet because it is wet, ripped, stinky etc etc, you just removed personal property.

Vinyl Siding on the side of the house has some holes in it from throwing a rock or weedeating while grasscutting...guess what? The mow crew gets an insurance claim to replace the entire side or the entire house worth of vinyl siding..... OR the prior ex homeowner has HO37 policy language and you get a chargeback for the siding...YOU better know how to fight this...

IF the P&P contractor does not realize there are teams of PROFESSIONALS being hired to go and find this damage so the bank/service companies can chargeback or file insurance claims on the contractor then you better go dig a hole and bury your business 6' deep.
 
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splinterpicker said:
Do subs need to have insurance??? Really seriously??? You are new. Do you own a house and if sued do you want to keep it?? First Insurance is like fall protection you don't want to have it or use it ! But if you need it you want the RIGHT kind in place. A KNOWLEDGEABLE contractor insurance agent will be able to answer ALL your questions. If you don't have GL contractor insurance be sitting down. Ever since 911 the insurance industry has been REALLY harsh on new contractors and even ones in business that have never had a claim. If you have good credit own a house and such you will not need to supply the lube. Bankruptcy and other red flags are going to kill you in premiums.
SUBS need to give you a certificate naming you as a additional insured. PERIOD and be insured at the same limits as you.

E&O this is a BS scam from the nationals but they require it. Keep in mind your best tool is a external hard drive to back everything up on, approvals for removing personal property, photos and such. In my state the property owner has 5 YES 5 years after being out of their property to file legal proceedings. LET the national approve the personal property to be removed. If they say yes remove because they don't see any personals they assume liability. We don't make enough to be hung out to dry by them. AND YES THEY WILL HANG YOU !! Their lawyers don't advise you they just will look out for their client. I hope you are starting to get the point. after being involved in 2 suits I let the nationals in TEXAS take ALL the liability on personals. You'd look at some things and think "really you consider that personals" I was told if it was EVER PURCHASED it is personal property !!
lol,Thanks I know they need insurance just not sure if they needed e&o like I do, like my brother who has a landscaping company or my sister who has a maid service. Thanks for the advice. I have been here reading all about the nationals trying to screw the contractor. That's why I am asking about insurance comp. I have heard some insurance companies will actually have your back some will not. I plan on saving everything and everything talked about on the phone will be in a email for confirmation. As for my intro. What is the matter with it? Short and sweat. What are you looking for in it?

Thanks
Tara
 
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sound p said:
lol,Thanks I know they need insurance just not sure if they needed e&o like I do, like my brother who has a landscaping company or my sister who has a maid service. Thanks for the advice. I have been here reading all about the nationals trying to screw the contractor. That's why I am asking about insurance comp. I have heard some insurance companies will actually have your back some will not. I plan on saving everything and everything talked about on the phone will be in a email for confirmation. As for my intro. What is the matter with it? Short and sweat. What are you looking for in it?

Thanks
Tara
Yep its short and sweet...like its not there at all :whistling

On the main page is an introductions page where you tell us about yourself, where you are located and stuff like that. :thumbsup:
 

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Oh man, the stories we could tell. All of us. I have a claim from a homeowner open right now. It's a BS claim, filed becuase the HO is mad that we entered his house.

House is presale, no appreciable personals were visible from outside. We're there on a lock & GC. We enter the rear door, and immediately find things like, deer heads on the wall, clothes hanging in a closet, a few small furniture items, and boxed personals in the garage.

I tell the crew to replace the lock on the rear door and let's back off. I report the property as occupied. Two weeks go by, I get an email saying we damaged the rear door, broke a door off it's hinges, and damaged an attic ladder. My response...what no diamonds missing? No Van Gosh's? We, of course, did not cause any damage to this property, and the claim is possibly worth a few hundred dollars. I don't think the HO is going to press the issue. But, it is a mark on our record.

Point is, you need to know what you are allowed to do, when to back off, know what the pitfalls are, and have insurance and a lawyer (your own lawyer). If anything looks even a little funky, it's better to back off making $100 on the property, than having it costing you $1000's. But, once you enter the property, PHOTOS PHOTOS PHOTOS.

Oh, I have so many stories I could tell about the things that have happened to us over the past 5 years. But, knock on wood, to date - no claims have been paid (I've had two filed in 5 years with over 4000 properties visited) Because I stress to everyone - don't be afraid to back off and PHOTOS PHOTOS PHOTOS. And we always follow the work order instructions concerning removal of anything from a property.

And to your question about an insurance company...I'd say, do your own research. Look them up, use the BBB, once you get a short list, then ask about experiences from the forum on the individual companies.
 
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Wow talk about some rude people. The intro, I for one have not given one yet and sorry for that but it seems she wrote one, and that's more then i can say for all the people that just read the forum and don't sign up, and people like me who plan on writing one soon. She said she was getting into P&P, so do you think she is new??? Why answer a question she didn't ask. The information you gave her was great but for the comments, they are just rude. Just don't post if you have nothing to say. I thought the forum was here to help other contractors. And Fremont she did write where she is from , should she write her bra size and stuff like that. This isnt AA or NA. If you want to know someone personally you dont go to a intro, you have a conversation with them, its call intro, not discription of your live. Tara Email me and I will let you know what I have found out. Not everyone is rude here just ignore the ones that are. Give her a break. Where is you intro fremont. Sorry if this sounds rude.

[email protected]
 
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George,
LOL maybe you need to learn the decorum of the forum? Just click on the name of the poster and you can see my introduction...or better yet read back 1100+ posts and look for the 1 that is on the introduction page.

Till you post your own introduction I personally (like many others) consider you a troll... sorry I don't "mean to be rude"....

Really George? Really?
 

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sound p said:
I have heard some insurance companies will actually have your back some will not. Thanks
Tara
No company has your back. No one. Someone working at one may seem nice and you think they might work there forever and help you out, but that's wishful thinking.
 

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George7380 said:
Wow talk about some rude people.

[email protected]
I try to think I am polite and as helpful as can be to everyone. That said, I have no problem with the known jouneymen on this forumand how they handle rookie questions. If your concerned about hurt feelings and snarky replies, you really havent been in the Preservation world for very long.
 

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GTX63 said:
If your concerned about hurt feelings and snarky replies, you really havent been in the Preservation world for very long.
Man speaks the truth. You gotta have tough skin to work in the P&P field. From rude contacts at the Nationals to angry homeowners there are people you have to deal with that don't give a rats patooti about your feelings.
 
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Discussion Starter #15
sound p said:
I am getting into p&p and was wondering what is the best insurance company out there? Some of the nationals want you to have E&O, some dont. Some even want you to buy from there insurance company list, that is bs. So i guess the question is what insurance company do you use, how are they, and with or without E&O. Do my subs need the same insurance as me?

Thanks
Tara
Better stick to using one of these four insurance companies if you plan or already have any national accounts:

http://www.york-jersey.com/
http://www.insurance-tek.com/
http://www.leonardinsurance.com/
http://www.brunswickcompanies.com/

We had until April 2013 to comply with this. Yes, it's extortion in my book. Did I comply? Yep. Either do it or you don't work. Frankly if I would have been able to get out of this biz BEFORE I had to comply, I certainly would have. Didn't work that way tho. So before you go and spend $$ on an insurance premium that is cheaper, better look into these instead -- chances are you will have to switch over and it will cost you more in the long run.
 
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Fremont, Upon looking back at your posts, I see no intro on your first post (9/30/09 #1153). I have very thick skin and dont care how people talk to me, but I am very respectful and treat people the way I would like to be treated. I will talk to someone who hasn't introduce them self and not think of them as a "troll". I have been reading from this site for a while and love it. There will always be a couple of rude people that don't know how to talk to someone. "All p&p contractors are naive" that is like saying that only steers and queers come from Iowa. People come here to learn, not be treated like some "troll". As for the way the journeyman answer rookie questions that's fine answer them or don't but no need to be rude or hurt anybodies feeling because we are not working or talking to the nations or at a homeowners house,we are on the computer trying to teach and learn. If its about not introducing herself then ask her as if you wanted to be asked. Its common courtesy. And this troll says hello.
 

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George7380 said:
Fremont, Upon looking back at your posts, I see no intro on your first post (9/30/09 #1153). I have very thick skin and dont care how people talk to me, but I am very respectful and treat people the way I would like to be treated. I will talk to someone who hasn't introduce them self and not think of them as a "troll". I have been reading from this site for a while and love it. There will always be a couple of rude people that don't know how to talk to someone. "All p&p contractors are naive" that is like saying that only steers and queers come from Iowa. People come here to learn, not be treated like some "troll". As for the way the journeyman answer rookie questions that's fine answer them or don't but no need to be rude or hurt anybodies feeling because we are not working or talking to the nations or at a homeowners house,we are on the computer trying to teach and learn. If its about not introducing herself then ask her as if you wanted to be asked. Its common courtesy. And this troll says hello.
George,

You sound like an inexperienced FNG. You're acting like a troll. Fremont is someone who knows the ins and outs of insurance and PnP. He has more experience in this profession than most on this forum.

From my perspective, your skin is too thin for this thankless business and it will swallow you whole. For what it's worth, jump right in and touch base with us here in 90 days. Tell your clients that they're rude and didn't train you enough. Tell them you know better.
 
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The funny thing is:.... I have no where been rude. That is not me. To say that All P&P contractors are naive? MY BAD is should have said 99%.

I also clarified my point...as I stated its not the contractors fault. Its the industries fault and the "we will get you mentality"...you will learn. Hopefully with little cases and not big ones.

As far as introductions....YEP mine was back in 2009. This forum was a lot lot stricter then as far as intro's go.

Go and dig your diamonds now :)
 
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Then call me Jotunn....I think you have a little mud on your nose. Tara emailed me before, my wife spoke to her about things she needed to know from what we have learned and our friends. They both said that you guys were acting like she was a idiot not worthy of your time. She was very turned off by it and probably won't write on the forum, just watch like a troll. Why get hassled at home? I sure FremontREO knows alot. Just what he said had nothing to do with Tara asked, he just went off in a rant that should go somewhere else. If he knows the answer to her question then why not answer it?
 

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George7380 said:
Then call me Jotunn....I think you have a little mud on your nose. Tara emailed me before, my wife spoke to her about things she needed to know from what we have learned and our friends. They both said that you guys were acting like she was a idiot not worthy of your time. She was very turned off by it and probably won't write on the forum, just watch like a troll. Why get hassled at home? I sure FremontREO knows alot. Just what he said had nothing to do with Tara asked, he just went off in a rant that should go somewhere else. If he knows the answer to her question then why not answer it?
Mud on my nose? Lol, you will find a d--k in your mouth and up your a-- from these nationals with your current attitude. Go on mister know it all. Jump in the game. Don't say I/we didn't warn you. Be the next FNG to get it good. Lol, my 9 years of experience have taught me nothing.
 
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