The Donald Gaddis Company offers a specialized Foreclosure Cleanup Service Insurance program designed for contractors handling property preservation services on behalf of lending institutions. This program is tailored to meet the unique liability and professional exposure risks associated with foreclosure cleanup operations. It’s ideal for agents and brokers seeking comprehensive, competitive coverage for their clients in this niche sector.
Ideal Accounts and Target Classes
This program is suitable for insureds providing foreclosure-related property maintenance and preservation services. Common services include:
- Handyperson work
- Lawn care and landscaping
- Garbage and debris removal
- Winterization and pool maintenance
- Lock changes and re-keying
- Snow removal
- Janitorial and cleaning services
- Boarding up windows and doors
If you have clients contracted by banks, REO departments, or asset managers to maintain or secure foreclosed properties, this program can provide the right protection for those operations.
Coverage Highlights and Advantages
The program offers flexible coverage structures to meet your insureds’ needs, with standout features including:
- Package option including General Liability (GL) and Miscellaneous Professional Liability (E&O), or either line available standalone
- GL coverage written on an occurrence form — a significant advantage over many claims-made competitors
- Coverage not limited to the insured’s premises
- Blanket Additional Insured coverage available
- Higher limits available for qualifying risks
- Placed through an A.M. Best-rated A+ (X) carrier
- Responsive and knowledgeable customer service team
Underwriting Notes and Minimum Premiums
Premiums start at $1,250, with competitive rates based on services provided and risk profile. Clean, well-documented operations with contracts in place and a consistent scope of services are typically preferred. Agents can submit using an Acord 125 along with the supplemental application available through the storefront.
Territories and Availability
This program is available in most states, including but not limited to: AL, AZ, CA, CO, FL, GA, HI, IL, IN, IA, KS, MI, MN, MO, NE, NY, NC, OH, OK, PA, SC, TN, TX, VA, WV, and WI. Availability may vary by state; contact underwriting for specific details.
Why Work With Donald Gaddis Company
As a trusted wholesale broker, Donald Gaddis Company brings access to specialized markets with a focus on niche liability exposures. Their foreclosure cleanup program demonstrates their ability to deliver tailored solutions backed by strong carriers and responsive service. Whether you’re placing one-off risks or building a book in this space, their underwriting expertise and market access can help you succeed.
For a quick estimate, call Eric Gaddis at 888-853-0071. For formal quotes, submit an Acord 125 and the supplemental application linked in the left column of this page.
Frequently Asked Questions
What types of accounts are a good fit for this program?
This program is ideal for contractors who perform foreclosure property cleanup and preservation services on behalf of banks or lending institutions.
Can I place just General Liability or Professional Liability on its own?
Yes, the program allows you to write GL and E&O as a package or as standalone coverage depending on the insured’s needs.
What carrier backs this program?
The program is written through an A.M. Best-rated A+ (X) carrier, offering strong financial stability and claims handling.
Is this program available in my state?
The program is available in most states, including CA, FL, TX, IL, NY, and many others. Contact underwriting to confirm availability in your specific state.
What is the minimum premium for this program?
The minimum premium starts at $1,250, but final pricing depends on the risk profile, services provided, and coverage limits selected.
Need help placing an account? Connect with a market specialist.