Adam!! i've been my roofing company for going on two months now. your videos have been more than helpful. but i have a question. could you make some videos role playing the entire process? maybe have Beans throw you some objections along the way and kinda make that a series? i think seeing the whole process in motion will help a lot of people (including me).
I am actually in Round Rock. I have seen my neighbors getting their "free" roofs installed quickly without being charged a deductible. But they are getting low grade shingles with little hail resistance and NO ice and water shield. No proper starter shingles and cut 3 tab for ridges and improper venting. I am paying a little more than my deductible and getting a class 4 product, all matching components and ice and water shield over all the critical areas and a hail warranty for up to two inch hail - the same size that damaged all of our roofs. Quality matters over quickness.
Using the ACV money to "cover" deductible for work they don't want done has been a very useful tactic for me. Insurance covers gutters but the home owner is fine with a few dents and use that money to help cover cost is an easy sell. Just my two cents
Most homeowners can understand that if a company is willing to fraud insurance then who knows what they're actually doing up on your roof. No one is in business to give away money. I just be upfront with them and explain the process. Honesty and integrity speak volumes. With that said, I've come across a lot of ACV policies and most homeowner understand they will be coming out of pocket. You just have to work thru it and make find ways to make them feel like their money is actually being put to use and not just "paying a deductible' if that makes sense.
@@amosher55 Well said my dude. Well said. And glad to hear that the ACV money used towards out of pocket expenses has been helpful for you! Thanks for the comment!
I’m not sure you’re explaining how the process related to an RCV and ACV policy actually works. Here in TX, your policy covers one or the other and most homeowners in TX don’t realize that insurance companies sent letters out a few years back changing their policy to an ACV policy. This means the adjuster comes out, says I have 20,000 worth damage(RCV) but since my roof is 5 years old, withhold 5,000(depreciation) and only payout 15,000(ACV). The insurance company takes those numbers and also subtracts another 3,000(deductible) so you the homeowner receive a check for 12,000 to have a roofer repair your roof that the adjuster said would cost 20,000. Now, if you have a roofer come out and fix your roof and he charges you 22,000 for all the materials/work performed, you the homeowner are coming out of pocket 10,000. When the work is finished and you send the invoice to your insurance company to prove the work has been completed, they will send you another very small check(only a few hundred dollars) known as recoverable depreciation from the 5,000 depreciation value they came up with for your roof. This is exactly how an ACV policy holders roof claim is handled in the state of TX. The deductible is taken out by the insurance company before you the homeowner ever receive a check to pay any roofer. Now having said that, I also would like to comment on your notion that insurance companies are losing money for paying out on massive amounts of claims. That is false and very misleading as to date, insurance companies on average only payout 10% on claims of the total amount they earn from premiums annually. They are nowhere near losing any money.
Hey David, thank you for taking the time to comment with a thoughtful, helfpul message! This video is for RCV policies. I just met with hundreds of people in TX and only faced a few of them that are dealing with ACV policies. Those are an entirely different animal and you are right about how they are handled. Sidenote: I met with a few high-level people in the insurance world who work with some of the biggest carriers and they reported to me that some carriers paid more in claims in 2020 than they took in for premiums. They in fact lost a lot of money last year. That's why certain carriers are pulling out of certain states.
I was going to ask what the response should be when a homeowner says he is needing 3 quotes per his insurance company. You answered it towards the end. Makes sense only for the insurance company to get a quote that’s less than the assessment and educating the homeowner on this benefits us
I just tell homeowners that their deductible is their part, whatever it is, just like medical copay and that amount is based upon their policy. But then I also tell them that I will assess their claim to ensure all the damages from the storm are accounted for and then they can tell me which work they want us to do. In other words, if your fascia is hit with hail, or you have 1 ding in 1 panel of the garage door, the fence got hit, or if that rear patio deck has some hits, you Mr. Homeowner can use that money towards helping you with that deductible. But our agreement is to do the roof for what the insurance company allowed for the roof. There is zero reason to waive a customer's deductible, especially 1% deductibles. If money is the issue for the homeowner, then go find some collateral damage missing from the claim. IAs get paid from component and different thresholds from claim totals anyways. So finding those window screens or that fascia hit with hail or anything else will get the adjuster paid, too, if theyre an IA. So its a win for the homeowner, and a win for the independent adjuster, and a win for you.
Wish I had seen this a month a go lost a couple jobs because h/o said their guy would cover the deductible. How you explain it would have been helpful for me to over come this.
It's all a learning process my dude. Glad to see you have the information and a new approach to use the NEXT time you face it (which is inevitable). You got this!
Hello man I see your really responsive to the comments your videos are really informant. I have a company of many services I was wondering if I had any way of contacting you I had some questions I’m close from Dallas.
Happy to help! For product and program questions, you can contact our office at help@roofstrategist.com or call/text: 303-222-7133 and we will happily help!
Nice video, keep up the good and helpful content. I have a client who’s unsure about filing a claim because he thinks that the insurance company will give him high rates for his future business projects(he owns a few businesses) what would be the best response for that?
GREAT question! And thank you for the comment :) Happy to help. Rates can not be increased due to an "Act of God" Claim. Read this article and feel free to pass it along. Hope this helps! www.thetruthaboutinsurance.com/will-my-premium-go-up-if-i-file-an-insurance-claim/
I understand what you are saying if the money is taken from the quality and integrity of materials but if it is taken from the overall profit, equating to the roofing company and sale rep not making as much in profit, what is the problem? Most roofing companies make about 40% profit from a roofing job. Most other fields dont come close to that, but hey lets stay greedy my friends and make the the others look like criminals
Hey Jason, great to hear from you! Option 1) Work local storms Option 2) Find a company that may be a better match for you and your growing desires :) Option 3) Have a sit down with your boss and chat about it
Don't beat yourself up. This is VERY common - especially down south. This video should help, and so should these: ruclips.net/user/TheRoofStrategistsearch?query=deductible Wishing you my best!
Adam!! i've been my roofing company for going on two months now. your videos have been more than helpful. but i have a question. could you make some videos role playing the entire process? maybe have Beans throw you some objections along the way and kinda make that a series? i think seeing the whole process in motion will help a lot of people (including me).
Hey Matt, this is a GREAT suggestion that I will add to my list :) Thank you!
I am actually in Round Rock. I have seen my neighbors getting their "free" roofs installed quickly without being charged a deductible. But they are getting low grade shingles with little hail resistance and NO ice and water shield. No proper starter shingles and cut 3 tab for ridges and improper venting. I am paying a little more than my deductible and getting a class 4 product, all matching components and ice and water shield over all the critical areas and a hail warranty for up to two inch hail - the same size that damaged all of our roofs. Quality matters over quickness.
💯💪 Glad to see you got taken care of the RIGHT way and are focused on QUALITY. Thanks for the comment!
Using the ACV money to "cover" deductible for work they don't want done has been a very useful tactic for me. Insurance covers gutters but the home owner is fine with a few dents and use that money to help cover cost is an easy sell. Just my two cents
Most homeowners can understand that if a company is willing to fraud insurance then who knows what they're actually doing up on your roof. No one is in business to give away money. I just be upfront with them and explain the process. Honesty and integrity speak volumes. With that said, I've come across a lot of ACV policies and most homeowner understand they will be coming out of pocket. You just have to work thru it and make find ways to make them feel like their money is actually being put to use and not just "paying a deductible' if that makes sense.
@@amosher55 Well said my dude. Well said. And glad to hear that the ACV money used towards out of pocket expenses has been helpful for you! Thanks for the comment!
I’m not sure you’re explaining how the process related to an RCV and ACV policy actually works. Here in TX, your policy covers one or the other and most homeowners in TX don’t realize that insurance companies sent letters out a few years back changing their policy to an ACV policy. This means the adjuster comes out, says I have 20,000 worth damage(RCV) but since my roof is 5 years old, withhold 5,000(depreciation) and only payout 15,000(ACV). The insurance company takes those numbers and also subtracts another 3,000(deductible) so you the homeowner receive a check for 12,000 to have a roofer repair your roof that the adjuster said would cost 20,000. Now, if you have a roofer come out and fix your roof and he charges you 22,000 for all the materials/work performed, you the homeowner are coming out of pocket 10,000. When the work is finished and you send the invoice to your insurance company to prove the work has been completed, they will send you another very small check(only a few hundred dollars) known as recoverable depreciation from the 5,000 depreciation value they came up with for your roof.
This is exactly how an ACV policy holders roof claim is handled in the state of TX. The deductible is taken out by the insurance company before you the homeowner ever receive a check to pay any roofer. Now having said that, I also would like to comment on your notion that insurance companies are losing money for paying out on massive amounts of claims. That is false and very misleading as to date, insurance companies on average only payout 10% on claims of the total amount they earn from premiums annually. They are nowhere near losing any money.
Hey David, thank you for taking the time to comment with a thoughtful, helfpul message!
This video is for RCV policies.
I just met with hundreds of people in TX and only faced a few of them that are dealing with ACV policies. Those are an entirely different animal and you are right about how they are handled.
Sidenote: I met with a few high-level people in the insurance world who work with some of the biggest carriers and they reported to me that some carriers paid more in claims in 2020 than they took in for premiums. They in fact lost a lot of money last year. That's why certain carriers are pulling out of certain states.
I was going to ask what the response should be when a homeowner says he is needing 3 quotes per his insurance company. You answered it towards the end. Makes sense only for the insurance company to get a quote that’s less than the assessment and educating the homeowner on this benefits us
This is a GREAT question. I will do a video on this very topic that will come soon :) Stay tuned!
Adam, great video!
Appreciate ya dude!
I just tell homeowners that their deductible is their part, whatever it is, just like medical copay and that amount is based upon their policy. But then I also tell them that I will assess their claim to ensure all the damages from the storm are accounted for and then they can tell me which work they want us to do.
In other words, if your fascia is hit with hail, or you have 1 ding in 1 panel of the garage door, the fence got hit, or if that rear patio deck has some hits, you Mr. Homeowner can use that money towards helping you with that deductible. But our agreement is to do the roof for what the insurance company allowed for the roof.
There is zero reason to waive a customer's deductible, especially 1% deductibles. If money is the issue for the homeowner, then go find some collateral damage missing from the claim. IAs get paid from component and different thresholds from claim totals anyways. So finding those window screens or that fascia hit with hail or anything else will get the adjuster paid, too, if theyre an IA. So its a win for the homeowner, and a win for the independent adjuster, and a win for you.
Wish I had seen this a month a go lost a couple jobs because h/o said their guy would cover the deductible. How you explain it would have been helpful for me to over come this.
It's all a learning process my dude. Glad to see you have the information and a new approach to use the NEXT time you face it (which is inevitable). You got this!
Hello man I see your really responsive to the comments your videos are really informant. I have a company of many services I was wondering if I had any way of contacting you I had some questions I’m close from Dallas.
Happy to help! For product and program questions, you can contact our office at help@roofstrategist.com or call/text: 303-222-7133 and we will happily help!
Nice video, keep up the good and helpful content. I have a client who’s unsure about filing a claim because he thinks that the insurance company will give him high rates for his future business projects(he owns a few businesses) what would be the best response for that?
GREAT question! And thank you for the comment :) Happy to help. Rates can not be increased due to an "Act of God" Claim. Read this article and feel free to pass it along. Hope this helps! www.thetruthaboutinsurance.com/will-my-premium-go-up-if-i-file-an-insurance-claim/
I understand what you are saying if the money is taken from the quality and integrity of materials but if it is taken from the overall profit, equating to the roofing company and sale rep not making as much in profit, what is the problem? Most roofing companies make about 40% profit from a roofing job. Most other fields dont come close to that, but hey lets stay greedy my friends and make the the others look like criminals
I sell for a local roofing company but want to chase storms. My boss wants no part of travelling. What do you recommend?
Hey Jason, great to hear from you!
Option 1) Work local storms
Option 2) Find a company that may be a better match for you and your growing desires :)
Option 3) Have a sit down with your boss and chat about it
Jason what market are you in ?
I’m literally loosing deals because the competition is “covering the deductible” “zero out of pocket” scheme.
Don't beat yourself up. This is VERY common - especially down south. This video should help, and so should these: ruclips.net/user/TheRoofStrategistsearch?query=deductible
Wishing you my best!