Ideally, they will want to see high occupancy, debt service coverage at around 1.20-1.25 and max 75% LTV.  

What if that person’s E&O coverage is exceeded, then are you at risk?

This will give you the same coverages they would have on that policy from a liability stand point and it would give you notice if the policy ever cancels, lapses or terminates in any way.

I'd look for a minimum of 1 million General Liab. and work comp (the cert will show coverages he has) Also, I would consider getting a OCP (Owners & Contractors Protective liability)  policy to cover your liabilty.

Then, armed with this comprehensive scope of work, you can go out and get bids from contractors all working off of the same project specs/RFP. 

Couple comments since I painted my own T-111 house last summer...1) Expect to about half the specified coverage on the paint.  

When I got into high school where comprehension and content became more important than spelling and speed, I began to do better.

The insurance the HOA buys will provide liability coverage for common areas like tennis courts or pool, but not homeowners insurance.

There is no average as coverage can vary depending on many factors such as the specific market, special coverage required by lenders, square footage, replacement value, and the deductible amount.

*BANKS OUT* No, it's actually not, your reading comprehension is poor and/or because you are a carpenter you take offense to such a topic, regardless of what is said.