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|10-22-2007, 07:25 AM||#1|
Trade: General Contractor
Join Date: Sep 2006
Getting Insurance Work??
Big time slow down for our company... I would like to know if any of you guys are working with insurance work..
1. Does it pay?
2. How do you market your services to insurance companies? Where do I sign up??
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|10-22-2007, 09:04 AM||#2|
Trade: General Contractor
Join Date: Oct 2007
Location: Orange County, CA
Re: Getting Insurance Work??
The work someimes pays good but there is a lot of red tape you have to deal with. Each company is different as far as polices, procedures, and pay. There is a lot of paperwork and you must have the insurance coverage requirements that are high. You may also need to take additional certification classes like subrogation, water restoration, and mold. Some also want you to be able to dry out/clean the jobs as well as restore them. this requires a very large amount of money for equipment. One de-hu machine is over $1000.00 and you will need many of these. Blowers are a couple hundred and you will need many more of these.
You will also have to be trained in whatever estimating software they use. For one insurance company for jobs averaging around $1000.00-$3000.00 we will spend approximately 1-2 hours just creating an estimate using their software and the related back and forth justifying it. Also, some companies use contractor networks and some just give the money to the homeowner and the adjuster may refer you along with 1 or 2 others. If you can get in with some adjusters with these company’s, like Farmers, that would be a good start. Plumbers are also the first contact in an water damage claim. If you no some plumbers that will refer you the restoration you will deal with some adjusters. Where I leave there is a company that has almost all the plumbers locked into giving them the referals. They offer to dry out and restore for free any bad work a plumber does and the pay a couple hundred bucks for the referal and they have pretty girls deliver all the checks to the plumbers.
If you are trying to get on with a network you should call the local claims office and ask who to speak to. They will tell you to send them information about your company and the waiting begins...sometimes for years. Also, some of the company's we work for will send a re-inspection guy to the home to go over your estimate. Sometimes these guys have never worked in construction so you have to constantly explain why you are charging for certain things. This is also true with adjusters. My experience is that most of the adjusters and such are fairly reasonable. Some of them also may want you to prove you are financially stable with minimum amounts of assets. Some also have a third company manage the contractors and these companies charge a percentage of the work, i.e. 1.5%.
Hope this helps.
Last edited by eagleandbaby; 10-22-2007 at 09:41 AM.
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