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Discussion Starter · #1 ·
I'm looking to subcontract under Xome. They are requiring the following:


i) Commercial General Liability Insurance with a combined single limit of not less than $1,000,000
per occurrence and $2,000,000 aggregate; using ISO form CG 00 00 01 or equivalent language,
including Premises-Operations, Products-Completed Operations and Contractual Liability.
Coverage restrictions relating to Residential work will not be accepted. Satisfaction of this
requirement must be confirmed within the comments section of the ACCORD certificate.
ii) Workers’ Compensation Insurance and employer’s liability coverage of at least $1,000,000 per
occurrence;
iii) Commercial Automobile Liability Insurance, in the event a motor vehicle is to be used in
Vendors performance of Services, covering liability arising out of any auto (owned, hired and
non-owned) with a combined single limit of no less than $1,000,000;
iv) Errors and Omissions/Professional Liability Insurance (extending such coverage to the services
contemplated by this Agreement) with $1,000,000 limit of liability (on claims made basis). The
policy Retro Date will be no later than the first date on which services will be supplied under
the MSA.

Are there any insurance companies that specialize in this field of work? Should I price shop or 'go with the best'? There seems to be some confusion when I call them asking about E&O for this line of work. I guess they don't get this question often.

TIA!
 

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DAMAGE RESTORATION
Water Damage Restoration, Mold Remediation and De-Contamination services
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34 Posts
call around.......ask if they have GL / E&O preservation package, some will say "HUHhhhhhh??? what? why? ummmmmm....." others will say "yup sure do, what nationals do you intend on working with" ..... some will be WAY over priced so shop around
 

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DAMAGE RESTORATION
Water Damage Restoration, Mold Remediation and De-Contamination services
Joined
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34 Posts
just looked, i use gaslamp insurance out of California, my 2M GL / E&O costs $115 a month. i called and asked "do you do GL/E&O packages?" he replied with "Inspections or preservation?" .... AND i haven't come across a company that wont accept it yet... hope this info helps!!!!
 

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IgnitePPR
Joined
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52 Posts
GasLamp ????

just looked, i use gaslamp insurance out of California, my 2M GL / E&O costs $115 a month. i called and asked "do you do GL/E&O packages?" he replied with "Inspections or preservation?" .... AND i haven't come across a company that wont accept it yet... hope this info helps!!!!
Gaslamp Insurance as in >> https://gaslampinsurance.com/

if this is the same company, you may want to get a copy of the "exclusions" which it appears damages to property is excluded in their coverage.
 

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IgnitePPR
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52 Posts
Wait!

I'm looking to subcontract under Xome. They are requiring the following:


i) Commercial General Liability Insurance with a combined single limit of not less than $1,000,000
per occurrence and $2,000,000 aggregate; using ISO form CG 00 00 01 or equivalent language,
including Premises-Operations, Products-Completed Operations and Contractual Liability.
Coverage restrictions relating to Residential work will not be accepted. Satisfaction of this
requirement must be confirmed within the comments section of the ACCORD certificate.
ii) Workers’ Compensation Insurance and employer’s liability coverage of at least $1,000,000 per
occurrence;
iii) Commercial Automobile Liability Insurance, in the event a motor vehicle is to be used in
Vendors performance of Services, covering liability arising out of any auto (owned, hired and
non-owned) with a combined single limit of no less than $1,000,000;
iv) Errors and Omissions/Professional Liability Insurance (extending such coverage to the services
contemplated by this Agreement) with $1,000,000 limit of liability (on claims made basis). The
policy Retro Date will be no later than the first date on which services will be supplied under
the MSA.

Are there any insurance companies that specialize in this field of work? Should I price shop or 'go with the best'? There seems to be some confusion when I call them asking about E&O for this line of work. I guess they don't get this question often.

TIA!

Farm Bureau seem to have a solid commercial auto program

I wouldn't necessarily shop price because they may not cover what you need, when you need it and I wouldn't necessarily take the most expense either.

First ask yourself why are you getting it and what do you want it to protect? that's what you go for!



https://orep.org/ (it's who I used- consistent across the board)

https://www.brunswickcompanies.com/property-preservation/ (easy to get in, difficult to get support), kept raising the rate and had planned on raising the rate for the next 3 years. dropped them and went to orep (which were consistent)

https://www.york-jersey.com/mortgage_form.html (seem to have a solid coverage program, but paid for it. prices comparable to the preservation market seemed a bit high)

there's a few to start with.
 

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To be honest there is so much work in my area all this extra insurance like errors and omissions is being overlooked. I have so many companies calling me to do work right now and the first thing I say is well I don't have errors and omissions and they say " well we have a bunch of past due jobs that need to get done" they are even skipping the onboarding process emailing me the work orders and giving me a temporary ppw login just to get the work done. Nope I have no idea what's going on right now.
 

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In my opinion, choosing an insurance company should be taken very seriously, and I personally use agilerates insurance company. My main argument in their favor is their professionalism. Before cooperation, they will give you all the information about how much you will pay, and why this amount? For example, I recently wanted to install a pool, and the managers explained to me how much does a pool increase insurance. You'll probably think what a difference, but the difference is significant. It all depends on how safe your pool is, to be precise, what size, style, shape, where it is, and so on. And if you approach this business correctly, you can save very well.
 

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I work with several insurance companies, and if you need contacts, I can help you with this. PM me on this forum. I will give you the phone number of my insurance agent, and he will help you find a decent insurance company. I trust my insurance agent because he gave me many brilliant ideas - for instance, to insure my life. And as soon as I found out about it, I started searching the Internet for articles about it, and I didn't read anything better than this article -- What does a $5-$10 Million Dollar life insurance policy cost in 2022?, which contains answers to all my questions.
 

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There are a lot of insurance companies today, and they all provide different offers. I use the same insurance as my friend, it's not too expensive, but it will cover most of my expenses if something happens. I don't see the point in paying much for insurance since I am insured at work. The company will fully pay for my medical treatment and compensation if I get injured at work. The last time I was injured, they gave me 5 days of sick leave. But after 5 days, I felt like I wasn't fully recovered. On this website https://www.oxnerpermarlaw.com/my-doctor-has-released-me-to-return-to-work-but-im-not-ready/, I have learned what needs to be done to get extra sick leave.
 
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