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I have been told by another roofing contractor that on hail damage insurance claims requiring 3 or more trades that the roofing co./general contractor is entitled to 10% overhead and 10% profit . I have been oblivious to that if its indeed true. If its true could someone explain to me how its calculated or how to know the amount to invoice and how to go about collecting it? Is it still possible for me to collect this on hail damage claim jobs my company completed back in the spring of this year? I would appreciate anyone's knowledge and help please. Thank you
 

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. If its true could someone explain to me how its calculated or how to know the amount to invoice and how to go about collecting it?

Is it still possible for me to collect this on hail damage claim jobs my company completed back in the spring of this year?
Part 1 … ask the insurance adjuster.
Part 2 … you’re kidding, right? Once you stepped foot on the job site your compensation was fixed, unless you discovered hidden damage.
 

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The Dude
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1. You've got 3 trades out - say - roofing, siding, painters. Total the three jobs, multiply by 1.2 to get total price, or 0.2 to get the amount extra for O&P.

2. Not an 8 balls chance in a stripper factory you're getting more out of completed jobs. Should have added that in beforehand. But now you know, and knowing is half the battle ;) Learning experiences aren't cheap ...
 

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I own stock in FotoMat!
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I have been told by another roofing contractor that on hail damage insurance claims requiring 3 or more trades that the roofing co./general contractor is entitled to 10% overhead and 10% profit ....
Says who? That may be someone else's SOP, but I very much doubt there's a law to that effect.
 
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Sean
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How are you writing your estimates? If Xactimate - then you put 10% where it asks for profit & also overhead. If you are not using said program, then you should already have your overhead & profit built into your estimate

Good luck on the three trades rule as most have gotten away from that & now look for "substantial complexity" or something similarly worded. You can refute most of that with white paper from XactWare, etc... but it can be tough.

The biggest thing is making sure you get all the line items that apply - even for the simplest roof you are looking at least at 10+ line items with some easily hitting 30+ & that just involves the roof.

If using Xactimate, I would start with this - Tools of the Trade – Estimating with XactWare (thehtrc.com) & do a lot of learning. Once you have some comfort level, I would then look into Alena Wilson with XM8 mastery
 

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The Dude
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Only 10%?
Insurance companies will generally pay 10% overhead, and 10% profit - 20%.

You can charge whatever you want, but they play a lot of games trying to dictate pricing. Most of them use Xactimate, and their adjusters abuse it to leave as much off as possible in the details. Things like - "20 / sq to install shingles" - but they don't add the tear off, underlayment, flashings, waste factors, or anything else that's required to do the complete job. And things like leaving out O&P when the roofing company is managing 2 other trades making them the GC. They will pay these things, but the whole process is shady and sometimes a fight. They try to tell customers "this is what we're paying" even though they're obligated to pay for the replacement, and the customer isn't obligated to use an "approved" contractor. They can only really dictate the scope of what is covered, but even that can be duked out in court if the client is being screwed. If you're a roofer doing a lot of insurance jobs, get Xactimate, and learn how to use it well.

But when the contract is signed, whatever you agreed to is what it is. You can't go back retroactively and charge them more.
 
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