 How do you know when it’s time to get help with supplementing insurance claims as a restoration contractor? Asking yourself these questions can help with this important decision for your business.
Three Questions that Reveal It’s Time to Outsource Your Supplements Sometimes when you have a good thing going on, it’s hard to know when to say when. We can get stuck in a mindset of “if it ain’t broke, don’t fix it” that can lock us in a holding pattern and prevent progress. But knowing when to keep going vs. change direction is critical—especially when it affects your bottom line. If you are a roofer or general contractor supplementing your clients’ insurance claims, you are no doubt aware that supplements bring a much-needed source of income. (If you are working with insurance claims but are not supplementing them…let’s connect!) At the same time, you also know that supplementing claims in-house can pose some challenges. How do you know if the benefits outweigh the costs? Here are three questions that can help reveal the answer: 1) Is there a better use of your time? On average, supplementing a claim can take several weeks – from writing the supplemental estimate to submitting it to the insurance company to negotiating the estimate through several rounds. All of those steps take time—time that could be spent elsewhere. For example, consider whether it would be more beneficial to your company if, rather than negotiating claims, you used that time to focus on sales, management, marketing, etc. Particularly for company owners who handle supplements themselves, it is important to determine if supplementing is the best use of your limited time. 2) Are you receiving the increase that you want/need? For various reasons, in-house supplementers tend to receive lower increases than third-party estimators. One reason is because many third-party supplementers have experience working as insurance adjusters, so they understand the insurance system and what adjusters are looking for. In addition, third-party supplementers have dedicated time & resources to work on claims, and they gain valuable experience as they do so. Those supplementing in-house are often tasked with other commitments, so they may not have adequate time to spend on supplementing claims. If your supplemental increases are below 25-30% (our average increase here at CSP), it may be time to consider switching to a third-party company. 3) Do you find yourself repeatedly investing in staff training (due to turnover, etc)? We all value our staff and want to invest in their growth & future. At the same time, supplement training takes considerable time, effort, and resources. Staff turnover does occur, and when that happens, you will need to take time to hire and train any new staff in supplementing. In addition, it is important to note that third-party supplementers often take courses and/or participate in conferences and ongoing training to continue to develop their skills and knowledge of the industry. Offering these same kinds of benefits to in-house staff may not always be feasible. After answering these questions, it’s possible you may find that outsourcing your supplements saves you time and brings you more revenue to help restore your clients’ homes and property. After all, sometimes the grass really is greener on the other side… If outsourcing your supplements is something you’re considering, please contact CSP today! We would love to talk with you and discuss any questions that you have.
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 When skies turn ominous and severe storm warnings pop up on our smartphones and TV screens, it can be a scary time for most people. The moments when we need to take cover in a basement, bathroom, or closet can fill us with dread and anxiety. Often, the stress continues after the storm when your home doesn’t make it through unscathed.
Storm damage poses significant risk to all real estate property. Every year most homeowner insurance claims are caused by wind, hail, lightning, fire, water and freezing. Damages related to wind or hail are the most frequent, with about 1 in 40 insured homes having these claims each year, according to the Insurance Information Institute. While having homeowners insurance coverage can give you some peace of mind, so can preparing yourself for what to do after a storm. We have gathered some tips for how to determine if your home might have storm damage, and if so, what to do next. First and foremost, these are suggestions that you can do safely. If it was a tornado or other catastrophic event - seek help from first responders immediately! However, if you are not in any immediate danger, these tips are things that you can do to check for damage without climbing on a roof or otherwise putting yourself in harm’s way. Assessing storm damage to your home: After a major storm with high winds and/or hail, when the skies have cleared and it's safe to go outside, check for these five signs of storm damage: 1. Broken tree branches and any down or loose power lines. Call 911 for down power lines. If power or other utilities are knocked out, call your service providers too. 2. Hail on the ground. Get a tape measure, golf ball, tennis ball or baseball and place it on the ground next to the hailstones. Take photos to document the hail size. 3. Broken roof shingles lying on the ground. In addition, can you see any missing shingles just looking at the roof from the ground? 4. Broken windows or signs of hail damage. For example, do you see any small round dents from hail on your window frames, door frames, downspouts, house siding, or air conditioning unit? 5. Signs of rain water leaks on the ceiling or walls inside your home. Look in all of the bedrooms, closets, bathrooms and also any areas you don’t frequently use. Keep an eye out for interior leaks during the weeks following a storm because they may not be immediately apparent. What to do next if your home has storm damage: 1. Collect evidence immediately after the storm:
2. Contact a licensed public adjuster or a restoration contractor. A public adjuster works for you - not for any insurance company. They can do a more thorough inspection and help you file a storm damage claim. Most PAs will offer a free inspection. A PA will also help you throughout the life of your claim. They can communicate with insurance on your behalf and discuss policy issues, necessary storm repair work, and negotiate a fair payout. 3. In the weeks following the storm, do you see several of your neighbors getting work done on their roof or siding? It is likely that these were storm damages. Your house probably has damage too, even if you didn’t see anything obvious. Ask your neighbors what contractors they are working with for storm repairs. They might also have a public adjuster that they can recommend too. 4. Contact restoration contractors. Most contractors, such as roofers or general contractors, will provide free inspections and estimates for storm repairs. Factory-certified roofing contractors are recommended. Also, look up reviews on Google, Angi (formerly Angie’s List), and Better Business Bureau for any contractors you are considering. 5. File a claim with your insurance company. Provide your photos and other documentation to insurance. They will give you a claim number and schedule an inspection date. Also have your public adjuster or contractor come to the insurance inspection to raise any concerns you might have that day. When the insurance company decides how much they will pay for damages, they will issue you a scope of loss with line items for everything that is approved. Have your public adjuster and contractor review these items. If anything is denied, missing, or just doesn’t look fair, your PA can address any disputes with your insurance. With a great team by your side, your weather-damaged home can be made whole again with qualified restoration contractors. A licensed public adjuster can also help to make sure the insurance coverage that you pay for is fairly being applied to the storm damage repairs. Are you struggling with what to do after a recent storm? Did you have a storm claim denied by insurance? We would be happy to talk with you about what to do next. Contact CSP today for help! |
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