All Forum Posts by: Paul Baldasaro

What are the limits you require a contractor to have for insurance. I flip houses in MA and have had some contractors give me a hard time saying I am asking too much. My limit requirements are:

Commercial General Liability Insurance $1,000,000 Each Occurrence Limit (Bodily Injury and property Damage) $2,000,000 General Aggregate per Project" $2,000,000 Products & Completed Operations Aggregate" $1,000,000 Personal and Advertising Injury Limit"

Business or Commercial Automobile Liability Insurance $1,000,000 combined single limit per accident

Workers' Compensation and Employers' Liability Insurance $100,000 Each Accident $100,000 Each Employee for Injury by Disease $500,000 Aggregate for Injury by Disease

Excess or Umbrella Liability $1,000,000 occurrence/aggregate

Am I asking too much? What does everyone else require? I am working out of Massachusetts, I’m sure that affects things.

My partners and I are in the process of closing on a house using Rockland Trust. So far so good. Great rates and application process.

@Adam Duffy good luck in Worcester. That is where I started my journey in this business and my first deal out there went very well. Seems to be an up and coming market.

I am just seeing this post. Please keep me in mind for any future deals you may have. My partner and I are always looking for deals.

We are in the process of starting our first flip. And need some guidance on insurance. Does anyone have a good insurance company they use for flips? Also, do you attempt to secure a homeowner policy or builders risk?

Jonas LaPointe welcome to BP! I am also a brand new member to this community. I have done some research online and was already planning on attending Black Diamonds next meeting but after reading the replays here I will make sure not to miss it.

Thanks for the reply and welcome @Charlie MacPherson. I have already submitted the paperwork for the reinstatement and completed the continuing education course. Now I am just waiting for final paperwork to submit payment for the state fee and be good to go. 

Thanks for the advice. As I stated we are very new to this and really do not even know where to begin. We started with all the educational videos and webinars on here and I have just started listening to the podcasts. I really feel like I have found something great here with BP!

I will definitely be reaching out to connect. Thank you.

Hello all. My name is Paul Baldasaro and I am from the Boston, MA area and also new to biggerpockets.com. My business partners and I are new to real estate investing and are hoping to connect to the right people and educate our selves to get started on the right foot. I am in the process of reinstating my real estate license that I let expire a few years ago. I mostly did rental units and the only experience I really have is the purchase of my own home. I look forward to connecting here and hope I can help and contribute as well.