# Listed as additionally insured?



## Ct Property Preservation (Aug 2, 2014)

Hello all,

Long time viewer and first time poster here. I tried using the search function to find my answer but was not able. 

I am trying to find the general opinion on listing a company as additionally insured on our GL policy. I have turned down multiple contracts and work as I refused to list anyone on our policy. My agent advised that other companies could modify my policy and even file claims against it if they were listed as additionally insured. 

What, if any, opinion do any viewers of this posting have in reference to the insurance?

Our workload has declined here in North Florida for about a month now. 

Thank you in advance.


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## Wannabe (Oct 1, 2012)

Your agent is correct. You should never allow another company to full rights to your policy. Basically you pay premiums so another party, who you would not trust, to file claims on your policy whenever they wish. 

True example: 

Mr. Joe was at a house in the dead of winter, snow covered the roofing so Me. Joe could not notice that a 1/2 square of shingles was missing. No visible inside leaks were found. Fast forward to April when he got a call from his Ins Company requesting a Statement Under Oath about the claim that was filed on his policy in the amount of $13,000 for R&R shingles, R&R sheathing and replacement of attic insulation. Total claim $21,000+. 

He tried to fight it. Hired lawyer and got nowhere. 

He had to pay his $2500 deductible and was cancelled on renewal. Darn near put Me. Joe out of business on his day-to-day business since nobody wanted to insure him. 

What's my opinion? Oh hel* NO!!


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## Ct Property Preservation (Aug 2, 2014)

That is what I thought. I just wanted other input. I hate to just sit around and not work but I do not want the liability of going with substandard companies.


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## GTX63 (Apr 12, 2012)

Yep, you would be paying premiums for the benefit of your customer. They can then file a claim and you won't even know about it until you get a letter or email after the fact.


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## UnitedFieldInspections (Dec 20, 2012)

All preservation companies require additional insured.


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## GTX63 (Apr 12, 2012)

Ct Property Preservation said:


> I hate to just sit around and not work but I do not want the liability of going with substandard companies.


What would you do if there weren't any third party preservation companies?


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## GTX63 (Apr 12, 2012)

UnitedFieldInspections said:


> All preservation companies require additional insured.


Plenty of reasons to not work for them, but that statement isn't 100% accurate.


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## PropPresPro (Apr 12, 2012)

GTX63 said:


> What would you do if there weren't any third party preservation companies?


And the answer to that question is why my business is where it is today. :thumbsup:


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## Ct Property Preservation (Aug 2, 2014)

Not trying to get rich or anything but I have a couple of companies I work for that do not require that. I try to diversify my income in other fashions however, I find that some comanies wish to enter into non-compete agreements and other scenarios. 

I am just trying to protect my interests. I merely wanted a general opinion on the matter. We did some work for SG a while back and got out before we got the screws applied. With so many companies popping up there is always someone there wanting to steal from you. 

We tried going direct with realtors and banks but it was a no go. We just do the best we can.


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## GTX63 (Apr 12, 2012)

CT, we were doing construction, rehabs, rentals, etc before we signed on with any nationals. We had a few of the big boys tell us we were 4th or 5th in line for work with them. All we had to do was keep plugging away on the couple jobs a month they gave us until the subs above us got chewed up and burned out and it was out turn. The same principal can apply with the private side except the clients are usually more trustworthy.


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## SJPI (Jan 21, 2014)

*Keep Trying*



Ct Property Preservation said:


> Not trying to get rich or anything but I have a couple of companies I work for that do not require that. I try to diversify my income in other fashions however, I find that some comanies wish to enter into non-compete agreements and other scenarios.
> 
> I am just trying to protect my interests. I merely wanted a general opinion on the matter. We did some work for SG a while back and got out before we got the screws applied. With so many companies popping up there is always someone there wanting to steal from you.
> 
> We tried going direct with realtors and banks but it was a no go. We just do the best we can.


You still have to be very careful with real estate agents. You are not very high on the priority list to get paid. With saying that, you will make double money on their work orders/bids. 

I spoke to at least 50 agents and finally got a few as clients. Keep trying!


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