You Enter, Secure, and Maintain Properties That Aren't Yours.
Protecting property preservation and mortgage field-services contractors
Property preservation and mortgage field-services contractors secure and maintain defaulted, foreclosed, and vacant properties for lenders, servicers, and asset managers — lock changes, securing, winterization, debris and personal-property removal, lawn and maintenance, inspections, and repairs. The defining feature is entering properties the contractor doesn't own, often occupied-status-unknown, and making judgment calls (is it vacant? whose belongings are these?) that lenders and courts rely on — creating wrongful-entry, property-damage, and errors exposure unusual among trades. That enter-and-decide-on-others'-property profile is what defines the class. A property preservation contractor needs coverage built around wrongful-entry and property-damage liability, errors in the field services relied on, and the vacant-property, crew, and contract exposure of the work. This is a corner of contractor and professional insurance built for how mortgage field work actually gets sued.
Properly structured coverage protects the contractor, its crews, and the properties and occupants involved.
The Property Preservation Contractor's Signature Exposures
The defining exposure is wrongful entry and the mistakes that flow from occupancy judgment: entering or "trashing out" a property that turns out to be occupied, removing belongings that weren't abandoned, or changing locks on the wrong or still-occupied home — leading to wrongful-entry, conversion, and even wrongful-eviction claims. Property damage during the work (a botched winterization causing a freeze-and-flood, damage during debris removal) is close behind. Errors and omissions attach to the inspections and status reports lenders rely on. Vacant properties themselves carry elevated fire, water, and vandalism risk, and crews and subcontractors add liability and workers' exposure.
Key Risks in Property Preservation Operations
Property preservation contractors face exposure related to:
Entering or clearing a property that was still occupied (wrongful entry/eviction)
Removing personal property that wasn't abandoned (conversion)
A winterization or maintenance error causing a freeze, flood, or fire
Property damage during debris removal or repairs
An inspection or occupancy-status report error a lender relied on
A vacant-property fire, water, or vandalism loss during the work
A subcontractor's uninsured error or injury flowing back to the contractor
Entering, securing, and maintaining properties that aren't yours is what most defines the class.
Core Coverages for Property Preservation Contractors
A properly built property-preservation program typically includes:
Commercial General Liability (incl. Personal & Advertising Injury) — Covers property damage and, importantly, wrongful-entry and related offenses arising from the work.
Errors & Omissions / Professional Liability — Covers inspection, occupancy-status, and field-service errors lenders rely on.
Care, Custody & Control / Property Damage — Addresses damage to the properties worked on where standard forms limit it.
Commercial Auto & Inland Marine (Tools/Equipment) — Cover the fleet and the equipment used in the field.
Workers' Compensation & Contingent/Sub Coverage — Cover crews and subcontractor exposure.
Cyber & Umbrella (as needed) — Cover lender/borrower data and add limits over a large claim.
What's Commonly Overlooked
Property preservation programs are most often weakened by:
Wrongful-entry/eviction and conversion exposure not confirmed on the GL
E&O omitted for the inspections and status reports lenders rely on
Care-custody/property-damage limits too thin for damage to worked-on homes
Subcontractors without confirmed coverage, indemnity, and additional-insured status
Client (servicer/national-order) contract insurance requirements unmet
The gaps that hurt most are unaddressed wrongful-entry exposure and missing field-services E&O.
Real-World Claim Examples
Crews clear a home that turns out to be occupied
Belongings are removed that the owner says were not abandoned
A failed winterization leads to burst pipes and a flooded house
An inspection wrongly reports a property as vacant or secure
A subcontractor damages a property or is injured on a job
Any one of these can be significant, and the wrongful-entry and E&O claims are the most distinctive.
Regulatory & Licensing Context
Property preservation is shaped by foreclosure, eviction, and personal-property law that varies sharply by state — what counts as abandoned, how belongings must be handled, and when entry is lawful — and errors here drive the signature claims. Investor and agency guidelines (Fannie Mae, Freddie Mac, HUD/FHA) set field-service standards and timelines, and servicer/national-order-company contracts impose insurance, indemnity, background-check, and additional-insured requirements. Contractor and trade licensing applies to repair work, and vacant-property registration ordinances apply in many cities.
Why Proper Placement Matters
Underwriters weigh the mix of securing, trash-out, winterization, inspection, and repair work, occupancy-verification protocols, subcontractor use and vetting, the servicers and investors served, contract terms, and loss history. Because wrongful-entry and E&O exposures are unusual and central, this class is placed with markets that understand mortgage field services and can confirm the wrongful-entry and E&O coverage. Confirming wrongful-entry and E&O coverage, controlling subcontractors, and meeting servicer contract terms are the essential steps.
Our Approach
At Cory Washington & Co., we insure property preservation and mortgage field-services contractors around the decisions the work forces — placing general liability that addresses wrongful entry and property damage, E&O for the inspections and status reports lenders rely on, and coverage for your fleet, crews, and subcontractors, to the standards your servicer contracts demand. We also insure related businesses, including junk removal companies, property managers, handyman businesses, and residential cleaning services.
You enter, secure, and maintain properties that aren't yours, which makes property preservation a distinct risk — we build the coverage to match it, wrongful-entry and field-services E&O included.
All insurance descriptions on this website are provided by Cory Washington & Co. LLC strictly for general informational purposes. They are not intended to be, and should not be relied upon as, legal, financial, or insurance advice. The information presented is general in nature and does not guarantee the availability, terms, conditions, or scope of any insurance coverage. Actual coverage is determined solely by the specific policy language issued by the insurer and remains subject to underwriting approval. Nothing on this website creates or implies an agent-client relationship, binds coverage, or alters any existing policy. Cory Washington & Co. LLC expressly disclaims any liability for actions taken, or not taken, based on the content provided here. For advice regarding your particular situation, please consult directly with a licensed insurance professional at Cory Washington & Co. LLC or another qualified insurance professional, and always review your policy documents in full.
See the coverages a property preservation business may carry — core, prevalent, and situational — plus the gap most often missed, in the Property Preservation Coverage Checklist.
Complete the Property Preservation Supplemental online in a few guided steps, download the fillable PDF, or browse all applications.
Frequently Asked Questions
How do I get property preservation & mortgage field services insurance through Cory Washington & Co.?
Request a quote or contact our team. We start with a short conversation about your operations, analyze your exposures, then negotiate property preservation & mortgage field services insurance across multiple carriers that compete for your account and present options with the trade-offs explained. Cory Washington & Co. LLC is licensed in all 50 states.
How are property preservation & mortgage field services insurance premiums priced?
There is no flat rate. The cost of property preservation & mortgage field services insurance reflects your industry, your size (payroll and revenue), your claims history, and the limits and deductibles you choose. We market your account to multiple carriers, compare the real quotes side by side, and explain what is driving each number so you can weigh coverage against price with confidence.
Is property preservation & mortgage field services insurance mandatory?
Requirements vary. Property preservation & mortgage field services insurance may be mandated by statute, or required under your contracts, leases, or loan agreements — and in many cases it is simply prudent given the risks involved. We look at your specific obligations and exposures, then recommend the coverage and limits that fit.
What if another agency has already declined or non-renewed my coverage?
Difficult, specialty, and previously-declined placements are a core part of our work. We access excess & surplus (E&S) and specialty markets that many generalist agencies cannot, and we explain the trade-offs clearly so you can decide with confidence.
Available in all 50 states. See how requirements differ in California, Texas, Florida, New York, or choose your state.