If you’re an insurance restoration contractor you’ve had a check grow legs and if you haven’t you have to watch this video because it’s probably going to save you a bunch of money in the long run. When starting a project you’ll start it out for the ACV amount, you’ll do an amazing job on the project, then when it comes time to get paid the funds have somehow magically disappeared or there’s some crazy story that drags the lie out. When this exact scenario happens you don’t get paid. If you’re a veteran of the industry you’ve probably learned how to reduce these instances from happening and I’m going to share the biggest tip to eliminate most of these checks growing legs. I’ve said it a million times it’s easy, set an expectation with the homeowner for the claim.
When Claim Juicer supplements a claim, along with the supplements, our contractors get a template to email directly to the homeowner that sets an expectation. In layman’s terms, that they can understand. This way the funds have a purpose and those funds are allocated towards something that brings the homeowner way more value than the green cash value. This reduces the chance of the checks growing legs or the misunderstanding of allocated funds.
So what does this letter look like well it covers the line items being supplemented and why those line items are important to their project, their unique home. If you don’t use Claim Juicer you can create these yourself. It’s easy, put them into your SOPs and create that expectation. It’s as simple as explaining the processes and procedures throughout their unique claim process, why things are being asked for and what exactly you’re going to do with the funds. Also a real quick rabbit trail, this should also be paired with pre-production supplementing.
Hold some leverage, get the supplement check pre-production because if you get the ACV and supplement check before the work is done it’s a fully cash flow project and most of the time those two checks cross the barrier into profit. This reduces the chance of you losing money on a job. With that if you ever need a hand with setting these expectations or managing these expectations hit us up info@claimjuicer.com and stop by our awesome website, claimjuicer.com.