Staying Ahead: Adapting to Insurance Industry Changes as a Contractor
Don’t Let Insurance Changes Stop You
The insurance industry is shifting, and as a roofing or storm restoration contractor, these changes might feel intimidating. But here’s the good news: with the right preparation and a solid partner like Claim Supplement Pro, you don’t have to let fear hold you back. Change is part of any industry, and those who adapt can not only survive but thrive. Let’s break this down step by step, like a mom explaining how to tackle new challenges at school—simple, clear, and actionable.
What’s Changing in the Insurance Industry?
To prepare, you need to know what’s happening. The insurance landscape is evolving, with companies and the broader industry making significant adjustments.
Changes Insurance Companies Are Making
Increased Denials for Storm Claims
Insurance companies are reacting to increases in storms and greater intensity of storms and wildfires. The stereotypical stance for insurance .. deny, delay, defend … is not new, and presents real challenges to property owners and contractors. Their goal? Minimize payouts. Insurance customers and their contractors are increasingly required to provide bulletproof evidence to justify actual repairs and costs that are necessary to recover from storm damage.Tighter Documentation Requirements
Insurance adjusters are requesting detailed photos, comprehensive reports, verifications from local building inspectors and manufacturers, more specific material testing reports, and are even scrutinizing what measurements they will accept as valid. Marginal or incomplete documentation won’t go as far.Reduced Coverage
Many policies now come with lower limits for specific damages, and more exclusions, meaning more out-of-pocket costs for homeowners unless supplements are approved.
General Industry Changes
Updated Building Codes
In states like Illinois, changes in statewide building codes will help out more generally, but will require contractors to be more on top of documenting requirements to push back against insurance resistance. This impacts materials, labors, and total costs.Rising Material Costs
Supply chain issues and inflation have made materials more expensive. Also other changes that may likely be coming soon may affect the labor market and the availability of skilled workers. This adds pressure to getting jobs scheduled, and of course bottom line costs to pay for repairs, especially when insurance payouts lag behind changes happening.Digital Claims Processes
Insurance companies are increasingly relying on technology for claims. Contractors must adapt to digital tools for submitting documentation and communicating with adjusters.
Tackle, Outsmart, and Roll With the Punches
The changes might sound daunting, but there are clear steps you can take to stay ahead.
Reacting to Insurance Changes
Stay Educated
Changes in state and local building codes can catch contractors off guard. Make it a habit to stay updated so you can anticipate challenges before they arise.Partner with Experts
Navigating supplements and claims can be time-consuming and frustrating. That’s where Claim Supplement Pro comes in. We handle the complexities, freeing you to focus on your projects.Document Everything
Take detailed photos of the job site before, during, and after the work. This evidence can make or break a supplement claim. Include measurements, damage descriptions, and material details to ensure nothing is missed.
Being Proactive
Build Trust with Homeowners
Explain the claims process and potential supplements upfront. When homeowners understand what to expect, they’re more likely to cooperate and support your work.Include Supplement Clauses in Contracts
Protect your business by adding clauses that outline how supplements will be handled so that there are no surprises to the customer and they understand that it is ultimately your job as a contractor to perform due diligence to align with insurance on an accurate and fair estimate. This prevents disputes or confusion later.Partner with Claim Supplement Pro
Why do it alone when you can have a team of experts by your side? Claim Supplement Pro is here to handle the tricky supplement negotiations and insurance headaches for you. With our help, you can focus on doing what you do best—restoring homes and building trust with your clients.
Combating Challenges
Advocate for Homeowners
Act as a liaison between your client and their insurance company. Your expertise ensures fair treatment and maximized claims.Deliver High-Quality Work
Meeting building codes and providing excellent workmanship not only satisfies clients but also minimizes disputes with insurance companies.Educate Your Team
Train your crew on the latest industry changes, documentation techniques, and best practices. A knowledgeable team is a successful team.
Don’t Fear Change: Embrace It
It’s true—insurance changes can feel scary. But here’s the thing: these changes shouldn’t stop you from doing what you do best. Claim Supplement Pro is here to guide you through the complexities, helping you handle supplements, improve claim approvals, and keep your business running smoothly.
Change is inevitable in any industry, but that doesn’t mean it’s a bad thing. You can still grow your profit and business. You can still build strong relationships with homeowners. And with the right way to frame how to think about the changing challenges, you will likely even find new opportunities to grow your business.
The Tools to Succeed
The storm restoration and roofing industries are built on resilience, and so are you. Yes, the insurance industry is evolving, but you don’t have to face these changes alone. By staying informed, being proactive, and partnering with experts like Claim Supplement Pro, you can navigate these shifts with confidence.
If you’re ready to tackle insurance challenges head-on, Claim Supplement Pro is here to help. Our team takes the hassle out of dealing with supplements, helping you secure the funds you deserve and keep your business profitable. Contact us today to learn how we can partner with you and simplify your supplement process.
So, take a deep breath and keep moving forward doing your great work. The insurance world has always had turns and twists, that is nothing new. But you’ve got what it takes to keep succeeding—and we’re here to help you every step of the way.