How Roofers get 40% more from Insurance Companies paying only 5% more

Summary

In this insightful discussion, roofing contractors learn the importance of effectively navigating insurance claims to maximize their earnings. The video features experts explaining how insurance companies often overlook crucial items, resulting in significant underestimations. By supplementing these claims with detailed estimates, contractors can achieve substantial increases in payouts. The conversation highlights the value of persistence and professional follow-up in dealing with insurance adjusters. Additionally, the service offered by Estimate Experts is presented as a cost-effective solution, enabling contractors to focus on their core work while ensuring they receive fair compensation for their services.

Takeaways

• 😀 Many contractors accept initial insurance estimates without questioning them, missing out on potential additional funds.
• 💡 Insurance companies often overlook items due to either lack of knowledge or overwhelming workloads.
• 📊 On average, supplemental estimates can increase insurance claims by about 40%, with some cases seeing even higher increases.
• 🤝 Contractors can partner with estimate experts to create detailed supplemental estimates that justify additional claims.
• 📅 Claims management can take time, often 30-60 days for settlement, requiring persistence and follow-up.
• 🚀 Effective communication and professional relationships with insurance adjusters are crucial for successful claims.
• 🤔 It's a misconception that supplementing insurance claims is unethical; contractors should advocate for homeowners' rights.
• 💰 Hiring experts for estimating claims is often more cost-effective than employing in-house staff, with fees typically around 5% of the collected amount.
• 📞 Regular updates and recorded communications with contractors ensure transparency and allow for learning during the claims process.
• 📈 Contractors are encouraged to be persistent and assertive when dealing with insurance companies, as this can significantly improve their chances of a favorable outcome.

Q & A

What common issue do contractors face when dealing with insurance companies?

Many contractors find that insurance companies often miss items in their estimates, which can lead to significant financial losses for both the contractor and the homeowner.

How can contractors increase their insurance claim amounts?

Contractors can increase their insurance claim amounts by supplementing the initial estimates with detailed, justified supplemental estimates that highlight missing items and reference regulations.

What does a solid estimate entail according to the discussion?

A solid estimate is comprehensive and explains why each item is included, referencing relevant codes and regulations, making it difficult for adjusters to dispute.

How does the process of working with Estimate Experts benefit contractors?

Estimate Experts provides a hands-on service that includes building estimates and managing claims, allowing contractors to focus on their primary business activities while ensuring they receive fair compensation.

What is the suggested approach for contractors new to the insurance claims process?

Contractors are encouraged to collaborate with companies like Estimate Experts, which can help them navigate the insurance claims process without requiring extensive prior knowledge.

Why do some contractors hesitate to supplement insurance claims?

Some contractors believe that supplementing claims is unethical or that they should maintain a good relationship with insurance companies, leading them to accept initial estimates without challenge.

What is the fee structure for using Estimate Experts?

Estimate Experts charges a fee of 5% on the additional funds collected through their services, making it a cost-effective solution compared to traditional public adjusters.

What is the importance of persistence in dealing with insurance claims?

Persistence is key; being consistently proactive in following up with insurance adjusters increases the likelihood of a successful claim and often leads to better outcomes.

How does Estimate Experts ensure their clients stay informed throughout the claims process?

Clients receive weekly reports detailing the status of their claims, including recorded conversations with adjusters, which helps them understand the process and learn from the interactions.

What special offer does Estimate Experts provide for new clients?

Estimate Experts offers a 10% discount on the first estimate to new clients, allowing them to try out the service at a reduced cost.