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Lucrative Insurance Work - Contractor Advice Articles

Pro*Desk

Lucrative Insurance Work Carrier Slocomb, from 35 years in the trades.

--Learn more about my strategies for contractor success at www.thriveorsurvive.net, under the heading Pro Desk.

Want to discover a new money source? Why not get into an area of home improvement that never sleeps, no matter what this new economy’s doing. We‘re in home improvement because we all love design-building new stuff, but to keep jobs coming in we do home repairs too. Trouble is repairs are hard to count on. If you’d like to build a stream of motivated clients, then why not sell yourself as an insurance risk repair specialist. What is Risk?

If you own a home or a business property then you know what we mean by insurance risk. Basically, the insurance company covers you, the insured risk, for catastrophic loss at a premium they can only get by sending a certified inspector out to look your property over. This happens when you buy a property, or when you reinsure it with a different carrier. But it also happens another way. Our boom economy led to a bust economy and this bust economy has forced risk managers to dispatch thousands of delighted property inspectors (happy because they’re working) out to reinspect millions of addresses across the USA. One risk manager I inspected for told me that, when housing drops in value, and the stock market’s bumping along insurance companies go out to reexamine their risks as a way of decreasing loss and increasing profit. That is, they get another look at your roof, electrical service, and the state of your neighborhood in an effort to squeeze you for higher premium payments. Risk Inspections Explained.

Just so you know: virtually every property inspected, be it a home or a business has something that increases its risk. What do risk managers and property inspectors look at? Here’s a short exterior list: roofs, siding, sidewalks, driveways, decks, proximity of fire hydrants, distance to Fire Departments, housekeeping, exterior lights, neighborhood trend, closest body of water, and the breed of dog owned. Interior inspections examine: fireplaces, woodstoves, electric heating & gas units, burglar alarms, smoke detectors, sprinklers, exit lighting, electric service and wiring types, boilers and plumbing, housekeeping, mold issues, foundations, occupancy, stairs and rails, water infiltration, and any prior losses that were never reported or fixed. And much more if you run an apartment house, restaurant, or other business. Repairs to Risks.

During an inspection, the inspector notes fifty to one hundred items in his report, and he takes photos of areas that he/she sees as a potential risk for the insurance company. Say the roof is past its lifespan; squirrels nest in the fascia; there’s aluminum wiring in the box and walls; or the insured risk is in a high crime neighborhood? Anything an inspector red flags is then passed to the risk manager in the finished report as a recommendation. It is the inspector’s documented recommendation and accompanying photos that starts the insured’s clock ticking. In short order, should the home or business owner wish to keep coverage then he must make the repairs the insurance company says are necessary. See where your company comes in? For information on how to proceed with this niche business in detail please visit our website, www.thriveorsurvive.net ; head over to our Pro*Desk, log on and come on in. We’ll give you what you need to tie into this and other lucrative, lesser known home improvement markets. Here’s what to expect.

Why chase Insurance risk repairs? Like its more popular big brother disaster mitigation (fire, flood, septic), risk repair is a solid growth niche that few of your competitors are even aware of. Honestly, you won’t even find anyone advertising risk repairs in your local mailer or paper. Will you benefit? Home improvement contractors whose client base is city and suburban; rural zones probably won’t produce enough returns. This is a great way to augment repairs, and make new clients who, once they come to know you, may hire you for lucrative design/build work. Marketing: create a one-of-a-kind market page on your website. Because this is called a time sensitive business you need to advertise in very specific ways. At Pro*Desk we’ll show you what to say and who to market to. Your team make-up: you’ll see which subs you need on your team, and why you should only take on the best of them, as well as what to expect from your own employees.

Job template: from sales target to method of operation to billing, we’ll show you what you need to do to get your business going in this growth market, as well as how to grow from there. Remember, insurance risk repair is a field that few of your competitors currently market to. We urge you to think about getting into something this economy resistant. Just think: you could be king of insurance risk repairs in your sales’ zone if you act promptly. Join us at Pro* Desk. We’ll show you how. Carrier Slocomb is a 35 year trade veteran, state licensed home improvement contractor, certified property insurance inspector, and business owner whose career includes property disaster mitigations and repairs for national insurance carriers. Married with a large family, Slocomb is based in the growing mid-Atlantic region. --Learn more about my strategies for contractor success at www.thriveorsurvive.net, under the heading Pro Desk.

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