Water restoration business - estimates (self pay vs insurance)

It is both an art and science when it comes to writing estimates for water damage. Knowing your cost isn't enough... you have to understand the ART OF DELIVERY!

Yes, sales has made its way into the estimating process.

If you don't understand what I am talking about... then you need to watch this video.

We explore the various gradients or thresholds that customers have and use to make buying decisions.

Guess a number to high and they may say no.

Guess a number too low and you lose money (boo).

There is a sweet spot and you need to find it.

I promise you this... until you master the ART of estimating, you WILL be leaving money on the table.

There are some important variables that need to be nailed down before we can write a solid estimate.

Is this a self pay or insurance job?

Is the job large loss or is it a normal water damage under $15k

Details matter!

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Video hashtags: #xactimate #shaneodazier #insurancerestoration

[TheRestorationContractor]

Is this video helpful?
What would you like for me to cover regarding invoices and estimates?

[special]

Love your content.
I do some water mitigation jobs but your videos explain a lot that I didn't know.
I will join your program. Great stuff man.
Thanks

[cristyable]

My first job was 43k next jobs were easy.

[chente]

It’s pinching Pennie’s if the insurance company want to know what you are charging? Then goes on a list of all the things you can do fluff an estimate. Your advice would apply if ALL contractors didn’t lie and if ALL insurance companies didn’t pay.

[TristaBarnett-if]

What if equipment was only running for 4 days and they are charging for 7. Workers were not able to pickup for 3 days after. I was told to unplug all equipment after day 4 and just set equipment aside. Am I responsible for paying all 7 days?

[andrewo.]

What do you think about them leaving machines running 45 days, only tore one room, insulation from crawlspace. small bathroom, a wall and partial kitchen. Said it would be maybe 20 at the highest. Charged 80k… I mean.. that’s almost a third of our house. Multiple contractors came in saying they were out of their minds.

[MrStandridge]

Do you use the same format for restoration estimates?

[timladd]

Xactimate shows pricing per line item. I know you did not confirm that but the way you explained it and noting multiple times that insurance wants to see price per item implies it doesn’t.

[healthyhomechronicles]

This is great! We knew nothing when we did our restoration. We couldn't use insurance and It just blew up our world!

[valerieking]

Your videos are very helpful showing how to price gouge the customer due to their ignorance.

[MatthewPangelinan]

Super helpful information. Thanks, Shane.

[kksan]

This is why home insurance is so expensive nowadays

[malcolmbeaton]

how do you send photos of the loss the the insurance company. with xactimate, the photos get attached

[JessicaStaeger]

this web site does not work it throws 404

[chrisdavis]

LOVE IT!!
Do you submit a sketch with your style estimate?

[CREAOOfficial]

Some mitigation companies won’t provide a quote to send to insurance. They say, “we do the job then bill insurance”… Is this common practice? We had one actually tell us he can’t do anything until a public adjuster comes out and recommended a “PA company”. Because our insurance is saying that the contractor should be providing a quote to work off of.

[DirtyDieseldude]

Cat 1 is essentially rainwater
Cat 2 is gray water
Cat 3 is poop water.

If you have rain water dripping from your roof, it’s cat 1. If you have a sewage back up, it’s Cat 3. That’s why the prices are different.