View this article online: https://www.insurancejournal.com/news/west/2009/03/30/99095.htm
Cambridge General Agency has a new foreclosure/eviction cleanup program that provides coverage for contractors preparing foreclosed homes, condominiums, apartments and commercial buildings for sale or rental in California. Services typically include removing prior owner or tenants’ belongings and trash, general cleaning and other incidental services, such as, cosmetic repairs, wall painting, removal and/or installation of new carpeting, floor refinishing and landscape maintenance.
In 2008, more than half a million homes were facing foreclosure, the agency said. As a result, this is a fast growing segment in the contracting business with a boom of new start-up companies providing these services. Rates are based per $1,000 gross receipts.
In addition, this program includes the following at no additional charge:
– Additional Insured – owners, lessees, or contractors’ – automatic status when required in construction agreement with you, which provides blanket additional insured coverage for ongoing operations when required by contract, written agreement, or written permit.
-Waiver of transfer of rights of recovery against others to us, which provides blanket coverage per prior written agreement.
-Primary and noncontributory wording, as applicable to CG2033
designated construction project(s) general aggregate limit.
Excess/Umbrella Coverage is also available.
For information, visit www.cambridgega.com.