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Mortgage Field Services

Let us help take the worry out of protecting your business

As a mortgage field service professional you likely wear a lot of hats. From inspection services to property preservation you have many rolls to fill. Let us help take the worry out of protecting your business. At PayneWest we provide customized insurance solutions tailored to meet the needs of mortgage field service professionals. Contact us to learn more about how we can help protect your business and let you focus on what you do best.

Included Coverages:

  • General Liability – $1,000,000/$2,000,000
  • Errors & Omissions (separate limits) – $1,000,000/$2,000,000
  • Damage to Premises – $100,000
  • Personal & Advertising Injury – $1,000,000
  • Medical Payments – $5,000
  • Property Damage – $50,000
  • Blanket Additional Insured (including primary and non-contributory and limited waiver) – Included *up to 10 additional insureds
  • Assault & Battery – $300,000/$600,000
  • Lost Key Coverage – $25,000
  • Electronic Data – $50,000
  • Terrorism – Included
Additional Coverages:

  • Employee Benefits – $1,000,000
  • Stop Gap – $1,000,000
  • Assault & Battery – Up to $1,000,000
  • Hired & Non-Owned Auto – $1,000,000
  • Blanket Additional Insured – All the way up to as many as necessary
  • Additional Insured Landlord
  • Additional Insured Equipment
  • Scheduled Waiver of Subrogation
  • Prior Acts Coverage
  • Property Damage – Up to $500,000
  • Increased Limits

Accepted Operations:

Level 1 (Occupancy Field Inspection):

  • Completion of Checklist provided for exterior condition of property
  • Confirmation of foreclosed home being occupied or unoccupied
  • Interviewing of neighbors
  • Determination power to structure
  • Determination of debris, attractive nuisance issues, any potential hazards
  • Photos of structure
  • Weekly/Monthly drive by to ensure structure has not been vandalized or broken into
  • Pest Inspection – NO treatment
  • Insurance Inspection/Photos
  • Process Serving okay
  • Assistance to Sherriff for Eviction Assistance

Level 2 (Property Preservation)

  • Minor Repairs – Exterior and Interior Painting, Carpet Cleaning and Replacement, Vinyl Flooring Replacement, Electrical Repairs, Plumbing Repairs, Landscaping, Roofing Repairs, Fence Repairs, Glass Repairs, Sub flooring and Drywall Repairs, Debris Removal
  • Winterization – Shut down all systems, drain and air-dry the plumbing and heating systems, use air pressure to clear the system of water, add environmentally safe propylene glycol as needed, tape off all fixtures, shut off all water supply to the property, disconnecting the water meter, removing it from the cradle and leaving it on the premises, disconnecting the feed pipe leading to the main water valve and plugging or cap pit it and posting notices to included warning signs, dates on all items winterized.
  • Removal of Interior OR Exterior debris – Will remove all debris from the interior/exterior of the property in accordance with Client instructions and/or applicable Investor/Insurer guidelines
  • Swimming Pool Maintenance & Winterization – Property Preservation Purposes only
  • Smoke Detector Installation – Property Preservation Purposes only
  • Snow Removal – driveways & sidewalks – Property Preservation Purposes only
  • Licensed Pest Control Applicators – no termite or tenting application
  • Lock changes
  • Yard maintenance – mowing, weeding, trimming of shrubs/trees, etc.
  • Boarding of windows

Operations which require carrier approval:

  • Accounts with Receipts over $1,000,000
  • Accounts in which general contractor operations

Prohibited Operations:

  • Alarm Installation
  • Asbestos Abatement
  • Security Operations
  • Lead Abatement
  • Real Estate Inspectors for New Sales or Refinancing
  • More than 5% uninsured subcontractors
  • Title Abstract Services

Additional Request/Facts:

  • Minimum of 3 years’ experience relating to inspection/preservation operations
  • Loss runs required on all new business
    • Any claims will require claim statement from insured
  • Backdating over 5 business days will need to be one off discussions
  • This program is rated on receipts and subcontractor cost
  • Minimum Premium – $1,200 for Level 1 & $1,900 for Level 2

Exclusion Reads as:
Mold Abatement, Real Estate Sales, Real State Appraisals, Real Estate Inspections Required for Sales, Termite Abatement or Tenting

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