This is the kind of insurance that you need to ask about. It is called "Mortgage field service insurance." Write this down because this is what you need to ask for.
You will need what is called Errors and Omissions (E&O) and General Liability (G&L). You will need at least 1-2 million in each of these (E&O) & (G&L). Most of the bank that you will be wanting to do working with, will not do business with you if you can not show that you have these insurances in the 1-2 million range.
The cost can vary with different companies. Some of them want all the money up front to even give you the insurance. It is not something that is cheep and you can not get it just any were. You can look it up online to see if you can get a better deal. I will give you some examples later.
These are some things that they will ask you:
Projected earnings ( to get the best deal for those just starting out say 40-50 thousand.)
They might ask you how much of a percentage you are doing ( they need to add up to be 100%)-example might be
debris removal 60%
lock changes 10%
lawn maintenance 20%
Have you done this before? Do you have references?
Ownership & what % is it?
Do you have another business?
They will want all the business information- name, address, etc.
If you have been in business shorter than three
years they might want you to send in a resume that is specific to this business.There is a way that it should be written. I have an example of one on our blog in another post. ( Look at the blog post " what you need to know about D&D Taking Out The Trash, LLC" example of a resume.)
They might want a copy of the check list for the things that you will be doing.
Have you ever applied for ( E&O,G&L) before.
Time frame ( that goes from the date that you get the insurance to that date one year later. Then you renew it.
Sign it and your done.
This is the one that I like:
contact: Mr. Robin Underwood
at: 1 559 683 4610
Another one might be
Leonard Insurance Service Agency,Inc.
Phone: 330 266 1914
Fax: 330 498 9952
www.leonardinsurance.com (copy and past this in your browser)
You can look up on the internet the kind of insurance that you are looking for and see if it gives you more options that these two. These give you a place to start.
Good luck with you efforts. Let us hope that we are all prosperous and happy in all that we do.
Keep coming back to see what else we have on our blog.