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Estimation of reasonable construction prices – Thoughts after profit Storm conference | Property Insurance Coverage Law Blog



Joseph Sabbagh, Chip Merlin and Justin Skipton

Win The Storm Conference was a very different and thought-provoking conference, as entrepreneurs and roofers involved in insurance recovery and the construction industry were the target recipients. Steve Badger, a spokesman and observer for the insurance industry, mentioned that this was not a typical insurance conference because most of the participants were in industries that were often not invited to the insurance industry's table – the people doing the repair and reconstruction after disasters. Kudos to Anthony Delmedico for starting this informative and successful conference.

An important topic at the conference was what happens when entrepreneurs are forced to fight with insurance company adjusters and claim managers to have acceptable payments for profitable repair and reconstruction. From my point of view, there seems to be a war between those who do the repair after a disaster and those who are guilty of paying for it. I encourage everyone in these professions: entrepreneurs, roof managers, insurance adjusters, and claims representatives to look at this through the eyes of policyholders, who are clients of both.

Which policyholder would want a contractor to make little or no profit performing repair of a house or building? Reasonable construction price is important.

Contractors and roof managers need to pay for the scope and repair that completely repair damage from losses so that they can make a reasonable profit. I suggest that insurance managers consider paying amounts that are sufficient for them to have enough profit and that they stop cutting envelopes to match and limit the payment for full compensation. Would the same insurance managers want entrepreneurs forced to cut off quality work working on their homes? Would they like to have an insurance culture that reduces the requirements for severity and demands for payments regardless of the policyholder's impact? If they lived by the golden rule, I doubt it would be the payment culture.

Reasonable repair construction pricing is an important topic I will discuss more tomorrow. Until then, I suggest that those who are interested read the blog I published after April Hall's restoration seminar. This type of debt service business should stop.

April Hall has an excellent storm support and entrepreneurial summit. Merlin Law Group lawyers Larry Bache and Drew Houghton will talk. Larry and Drew will partially deal with the "reasonable cost of repairing" a damaged structure and why the insurance industry often gets it so wrong with improper use of Xactimate.

Here is a link to sign up for her event. Larry Bache told me he can hardly wait to hear Roger Staubach's speech. I told Larry that his own speech and lessons should be more profitable for entrepreneurs than the "Roger the Dodger" number. If not, April may require that I show up instead of him and Drew Houghton.

Tomorrow I am writing more about a reasonable cost to repair when problems arise between contractors, insurance companies' adjusters and public adjustments. I will also write about my impressions from Win The Storm.

The thought of the day

The whole difference between construction and creation is precisely this: that a constructed construction can only be loved after it is constructed but a created thing is loved before it exists.
-Charles Dickens


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