Property Preservation Insurance
Property preservation insurance is essential for managing risks like property damage and injuries when working with vacant properties. It includes general liability, workers’ compensation, and commercial property insurance. Platforms like Eagle Nation help you easily compare quotes to find affordable coverage tailored to your needs.
Choose the right coverage from trusted insurance providers.
Why Do Property Preservationists Need Business Insurance?
Property preservationists face a high level of risk when working with vacant properties and evictions. For example, a visitor could trip on a broken staircase at a foreclosed property or even vandalize the property.
Having the right business insurance helps cover the cost of medical care, legal fees, and necessary repairs. Some policies, such as workers’ comp, may be required. With tools like Eagle Nation, property preservationists can easily compare quotes from top-rated insurance providers by completing an easy online application and getting coverage within minutes.
What Types of Insurance Do Property Preservationists Need?
Property preservationists need insurance like general liability for accidents, workers' compensation for employee injuries, commercial property insurance for tools, and professional liability for negligence claims. Commercial auto insurance is also essential for vehicles used for work. These policies protect the business from common risks.
Business owner’s policy
This policy conveniently bundles commercial property and general liability insurance into one cost-effective plan for dealers. A BOP is ideal for securing auto shop insurance and shielding businesses from financial losses.
Under this plan
Customer injuries
Damaged customer vehicles
Damaged business property
Commercial auto insurance
A policy designed for dealers and repair shops helps pay for property damage and medical bills after an accident. It is required in many states for businesses that own cars.
Under this plan
Car accident repair costs
Vandalism and theft
Weather damage
General liability insurance
This policy covers basic liabilities for auto service businesses, protecting against dealer risks like customer injury at a repair shop. To maximize savings, businesses can bundle it with property insurance or a business owner’s policy for broader coverage.
Under this plan
Customer injuries at a repair shop
Accidental vehicle damage
Slander and advertising injuries
Workers’ compensation insurance
Workers’ comp is required for auto shops in almost every state to cover employee injuries and related costs. It protects both employees and sole proprietors by handling work injury costs that health insurance might deny.
Under this plan
Employee medical expenses
Partial wage reimbursement
Lawsuits
Tools and Equipment Protection Plan
Contractor’s tools and equipment insurance helps protect your construction gear no matter where you go. This policy keeps your tools and equipment safe while you’re moving them (in transit) or using them at a jobsite. To qualify, your items usually need to be valued under $10,000.
Under this plan
Equipment less than five years old
Mobile equipment
Small toolsa
Professional Liability Protection Plan
Professional liability insurance for contractors, also known as errors and omissions insurance, protects against financial losses when a construction mistake or oversight causes a lawsuit. This policy is key for handling claims related to your work and promises made to clients.
Under this plan
Accusations of negligence
Failure to complete construction
Failure to use promised materials
How Much Does Property Preservation Insurance Cost?
The cost of property preservation insurance depends on several factors. A business with a few workers will pay less than a larger company. Here are the factors that affect the insurance pricing:
- Services offered, like maintenance of commercial or residential buildings
- Business property and equipment
- Business income
- Types of insurance coverage
- Policy limits and deductibles
These aspects play a significant role in determining the insurance premium for property preservationists.
How Do I Get Property Preservation Business Insurance?
Getting property preservation business insurance is simple if you have your company information ready. You just need to follow three easy steps with Eagle Nation:
- Complete a free online application
- Compare insurance quotes and choose the best policies
- Pay for your policy and download your certificate
Eagle Nation’s licensed agents work with top-rated U.S. insurers to provide the most affordable coverage tailored to your property preservation business, whether you’re a contractor, subcontractor, or employer.
Two ways to start your coverage
Quotes online
Talk to an agent
Verified business insurance reviews
Hear from customers like you who purchased small business insurance.
Common Questions About Property Preservation Insurance
Property preservation insurance helps cover expenses like damaged property, medical bills, employee injuries, lawsuits, and more. It provides protection in case of damage or loss while working on or managing vacant properties.
Preservation insurance is a type of coverage that focuses on maintaining the value of assets or property. It ensures that preservation activities are financially protected in case of unforeseen circumstances.
Judgment Preservation Insurance guarantees that a plaintiff will receive a court's judgment, even if the judgment is appealed or retried. It focuses on ensuring the financial outcomes of final judgments are upheld.
Property preservation specialists are hired by lenders to ensure that vacant homes are protected and preserved. This includes tasks like removing yard waste, repairing damages, and replacing locks to keep the home secure from vandals.
A preservation policy is a plan that outlines how certain materials (like library or archive items) should be preserved. It is a flexible document that can be updated as needed to ensure the safekeeping of important assets.
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I found the perfect Property Preservation Insurance coverage quickly through Eagle Nation. The process was simple, and I got tailored plans that fit my needs and budget.