Three Reasons A Roofing Contractor Should Use An Insurance Claim Funding Service

31 December 2018
 Categories: , Blog

If you have a small to medium size roofing company but do limited work involving insurance claims, you should consider using a contractor insurance claim funding service. They can handle the bulk of the paperwork, and many of these companies offer additional services that can further help your roofing business. The following are a few things to consider.

You can expand your business quickly

By not limiting your business to homeowners that want to replace their old roofs, you will have a much larger pool of jobs that you can compete for. All types of insurance jobs that you have been passing up because it is too much of a hassle dealing with insurance companies, you can now bid on. Or jobs that you have passed on because you simply didn't have enough knowledge to process the claims efficiently, will now become profitable.

You avoid hiring staff for insurance processing

You don't need to know a lot about insurance claims in order to hire people who do. Unfortunately, this adds more overhead to your company. By subcontracting this work to a firm that has expertise in this area, you will get the benefit efficiency. Naturally, this comes at a cost. But you will find that the cost is less than taking on the overhead yourself. You don't have to manage additional employees nor pay them benefits. You can focus on repairing and installing new roofs, as well as advertise and find new jobs.

You receive funding for the job

Funding is another important element of using this type of service. Once the insurance claim is approved, the homeowner will pay you directly any deductible associated with their policy. The claim funding company can then buy the materials needed and have them delivered directly to the job site. Payment for the job will then be sent directly to the insurance claim funding company. Any recoverable depreciation money from the insurance company will also be sent to the funding company. Your roofing business will get its share from the insurance funding company. When a roofing job involving insurance is done in this manner, you are able to go forward with the work will little delay.

Homeowners insurance can be a pain to deal with. Phone calls, insurance adjusters estimating damage are only two examples of things that take time away from installing and repairing roofs. To make matters worse, payment for the work is often delayed, and you are in a position where you have to fund the job yourself as you wait for an insurance company to write a check. A roofing insurance claim funding service, such as Genesis Contractor Solutions, removes all of the headaches and allows you to get roofing contracts for jobs involving insurance claims.