Get Paid Quickly

Don’t believe those skeptics who say you can’t get paid or have to wait forever to get paid for insurance restoration work

We’ve heard it time and time again, “Getting paid for insurance restoration jobs is next to impossible.

Sound familiar?

When we’ve done seminars and trade shows across the country this is a common complaint that comes up. Some contractors even come to believe that getting paid for insurance restoration jobs is next to impossible. Many seemed to have a tale of woe to share about their Uncle Bob’s or a neighbor’s sister’s brother-in-law’s friend who tried insurance restoration and lost his shirt.

Usually my response is that they probably did not know the rules of the road. Insurance restoration is not rocket science, but there are some differences between remodeling, building and handyman services and structural insurance restoration.

The main issue is how payment is processed.

Here are some simple rules:

Rule #1 – Get the deductible up front.
Don’t be shy. Make it your policy that the work doesn’t start until the deductible is paid. Period. If the homeowner will not or cannot pay you the deductible up front (when they really need your help) what do you think the odds are that they will pay you after all the repairs are done and they’re happy campers back at home?

Rule #2

Learn the paperwork and procedures that different mortgage companies require in order to process a check
Each insurance company has its own policies regarding how and when payments are issued. Mortgage companies also have their individual policies and paperwork that they require in order to process checks issued by the insurance company.

Rule #3
Talk with the mortgage company directly.

It is to your advantage to talk with the mortgage company directly. However, they will not give you any information without written permission from the homeowner. Have the homeowner sign a letter giving the mortgage company permission to give you information as it relates to processing payments and scheduling inspections (if necessary). If the homeowner refuses to allow you to talk with the mortgage company, it’s a really big red flag.

Rule #4
Don’t wait until the job is done to start working on processing payment.

Start getting paperwork in order from day 1. Educate your customer about the requirements; who is responsible for what. You’re the expert. Guide them along the process. Get the paperwork in. That is why it is very important to talk with the mortgage company to find out exactly what they require.

Rule #5
Work as a team.

Clerical staff can take care of correspondence and collecting paperwork. But, it is the job manager who has ongoing contact with the homeowner and the primary person to keep the payment process rolling along.
If you’ve got all the pieces in place by the time the check is issued, it will be processed much quicker.

Join Mastering Disaster 101 and Learn Everything About Insurance Restoration  Get All Details Here!

Winifred Sludock Melesh
Big Profits Through Insurance Restoration!

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>