Here is the scenario.
Comment at the end and let us know what you think!
Can you imagine the STONES?
Of Course their reasoning is inaccurate, but that's beside the point.
We posted a letter on Facebook and tagged the company that the adjuster was referring to.
We thought we’d share it here… but we’d love to hear your perspective.
Be sure to drop us a comment below.
“Greetings Liberty Mutual Insurance, I'd like to extend my knowledge base and services to you and your organization.
I will actually do this once at NO FEE, as I think the overall Net Gain will help and impact endless parties.
From a factual standpoint, I'd like to clear up...
I don’t expect you to believe everything I say, but you have to know I wouldn’t lie to you.
I have some unique and great experiences.
I have been very fortunate to have some amazing mentors and peers bring me into their universe and grant me the opportunity to see things I may have never otherwise seen.
I have always gone against the grain, like cutting a big juicy Texas brisket.
Do things others have and certainly do things people say can’t be done.
One of those is the current trail I have been on the last few years. I have been on a path to showcase what we (in this restoration/ emergency services industry) have come to accept as truth. And that is that somehow, our process and direction is owned by and steered by insurance carriers.
I am not a fool and recognize how large they (insurance carriers) are and the power they yield…..but being righteous is a super power.
Education and confidence is the...
But if you happen to find yourself there, or at least in his presence, this is the kind of shit you’d hear.
This was a random BLURT moment in the office last week. I had to share it.
I know you know him well enough to know that he speaks what he thinks, especially when he thinks it will help someone.
The analogy was striking. It really speaks to an issue that we hear about every day.
"Imagine being a restaurant owner and going to alll the grilled cheese making classes every year.
That's what a large percentage of the restoration industry does. The owners and leaders LOVE going to drying classes. They LOVE to get certifications.
The pursuit of being a better technician often supersedes the need for becoming a better business owner/leader.
So they can get a small percentage points more dry in a small fraction of time faster?
How does that help thier BUSINESS?"
Everyone is talking about what to do about fuel.
What are you doing in your company to compensate for the added cost?
Costs are up.
Adjusters are still resisting invoices.
So what will you do… what are you doing?
How can you run a profitable business with inflation, and rising fuel prices?
Was 10/10 good enough to cover fuel costs last year? Is it good enough to cover costs now?
“Add a line item for fuel surcharge.”
That's what everyone is saying you should do. Even the mothership of Xactimate (Verisk) has empowered the contractors to bill for increased fuel cost. (Don't take our word for it.)
So Xactimate says its ok to bill... but we are getting feedback that adjusters are stalling. It seems to have caught a lot of adjusters off guard. They don’t have a copy & paste argument for that one… yet.
But they will. They got knocked back on their laurels, but they work for massive...
A bottle of water at Costco is approximately $0.25.
The same bottle in the supermarket is worth about $0.50.
The same bottle in a bar costs $2.
In a good restaurant or hotel, it can be worth up to $3.
At an airport or on the plane, you may be charged $5.
The bottle and the brand is the same, the only thing that changes is the place.
Each place gives a different value to the same product.
When you feel like you are worth nothing and everyone around you belittles you, change places, do not stay there.
Have the courage to change places and go to a place where you are given the value you deserve.
Surround yourself with people who really appreciate your worth.
Don't settle for less.
We had quite a discussion in the Restoration Advisers Official Group on Facebook. If you aren’t in the group we highly encourage you to jump in there for some zero BS discussion. No outside advertising. No belittling. Just real, raw, and professional discussion. Join here.
The insurance company is always evolving in their arguments and creativity to drive their costs down so they can reinvest the premiums. In the book Delay Deny Defend, the author describes insurance companies as investment companies. They invest the premiums and drive down costs by negotiating claims. *
Those who believe the notion that...
We often hear of insurance companies and third party adjusters claiming that restorers overcharged them for work. The claim is usually that the “restoration industry standard” is “10/10”, or that overhead and profit (O&P) cannot be included in the invoice.
Let’s be clear here, there is no such industry standard. There never has been and there never will be (unless you are on a program, then you have to play by the rules that you agreed to). If you have read the book that we talk about in Disaster Podcaster EP 22 Restoration Markup and Margin, you know that few restorers can run a business and breakeven at 10/10, let alone make a profit. The idea that a restoration company can survive at a low markup defies the mathematics of basic business and common sense.
Our experience in the industry tells us that “industry standard” of 10/10 is a old benchmark that has been propagated by insurance companies and TPAs that are trying to keep their...