# Insurance and other rants



## brm1109 (Sep 17, 2012)

Ok folks for the newer people out there, I am going to repost something here.
If you are a licensed contractor as we are then you should have contractors insurance. We have a 1/2 million dollar policy and it covers everything. I constantly see these companies that require you to purchase insurance from their "preferred company". Well guess what if you purchase the property preservation insurance and try to use it on a regular contracting job for another private customer, guess what you ARE NOT COVERED. I inquired about this and was told so by the "preferred company".
So you would then actually have to purchase 2 different policies.
Wake up and realize that it is you who make the final decisions about your business, not the client you work for.
Until we contractors start pushing back then things will never change.
1. We submit bids for what we say not for what you want to pay.
2. Change our bid and it is voided.
3. We will get the insurance from who we want and NOT who you tell us.
Sorry for the rant.


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## LaCaSa (Apr 13, 2014)

So even though we have a million dollar policy, we would still need to purchase SG or any others approved ins. to start working for them?


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## brm1109 (Sep 17, 2012)

Yes, they are one of the many companies that try that. That is ONE of the MANY reasons I refuse to ever work for them. This information came direct from their preferred insurance vender.


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## GTX63 (Apr 12, 2012)

You will need one of the three or so approved carriers for E/O Mortgage Field Services. You will name them additional insured so they can file on you at will. About $2500+ for a startup and will climb exponentially based on revenue after that.


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## UnitedFieldInspections (Dec 20, 2012)

We have 2 Gl Policys That are needed for private sector & Preservation.As for the preferred insured we have york jersey (Loyds) and no issues with them.


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## cover2 (Apr 3, 2013)

heartlandproppresllc said:


> So even though we have a million dollar policy, we would still need to purchase SG or any others approved ins. to start working for them?


 2 companies you do not want to work for stay away at all costs Safeguard and 5 Bros.


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## mtmtnman (May 1, 2012)

brm1109 said:


> Ok folks for the newer people out there, I am going to repost something here.
> If you are a licensed contractor as we are then you should have contractors insurance. We have a 1/2 million dollar policy and it covers everything. I constantly see these companies that require you to purchase insurance from their "preferred company". Well guess what if you purchase the property preservation insurance and try to use it on a regular contracting job for another private customer, guess what you ARE NOT COVERED. I inquired about this and was told so by the "preferred company".
> So you would then actually have to purchase 2 different policies.
> Wake up and realize that it is you who make the final decisions about your business, not the client you work for.
> ...



A 1/2 million policy wouldn't cover some of the homes i end up working in. I carry a 2M/4M. I DID have a 1M/2M but i was working in million dollar homes so i upped it. The difference in premium from 1M to 2M is under $100 a year.......................


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## LaCaSa (Apr 13, 2014)

cover2 said:


> 2 companies you do not want to work for stay away at all costs Safeguard and 5 Bros.


Not only on this forum, but on others as well, ive heard alot a bad things about 5 bros.


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## Field Audit Services LLC (Mar 24, 2013)

This is the internet...you will hear the bad before the good for a very simple reason; 

The people writing the bad wish to harm the entity being bad mouthed reputation/work force/work procurement. One does not get to be a large company without making a few enemies along the way.

The reason you don't hear the good nearly as often is fear. Fear of ones work being taken away by a low baller or too many hands in the pie. 

Tis' a double edged sword, plain and simple. Human nature to bitch and the internet is the perfect medium to 'let it all out'.

To each their own if they can make it work for them or not. Safeguard as well as 5 Bros. must be doing right by somebody or they would collapse. Most people are jealous of their own inadequacies and start whining, poor, poor them. So they want revenge (because it certainly isn't _their_ fault they suck. It _has_ to be anothers fault.

This is why you read more bad than good on forums. People suck, don't want to work, wants everything on a silver platter. This is the way they get it. Funny part is if these same folks would put forth 1/10th the energy into being pro-active instead of being re-active, this country wouldn't be in the sorry state it is in now.

(steps down off soap-box)


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## GTX63 (Apr 12, 2012)

Field Audit Services LLC said:


> This is the internet...you will hear the bad before the good for a very simple reason;
> 
> The people writing the bad wish to harm the entity being bad mouthed reputation/work force/work procurement. One does not get to be a large company without making a few enemies along the way.
> I prefer the word "facts" over "bad". See how that changes everything?
> ...


I agree there are those who have the bitter ex wife syndrome. But there are plenty of others who are informing the masses what is going on so that others don't fall down the same hole they did. Seems more like a service than sour grapes to me.

...and take that soapbox when you are done, it's a hazard.[/COLOR]


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