Adam thank you for this. I'm on my 7th week in roofing sales from 25 years as a fine dining server. My first 5 weeks sucked. The only deals I closed were 2 cars and a residential roof from friends and family. I had burned thru my savings driving up to an hour and a half from home casing hail reports with no success. I pawned my camera equipment for $400 to cover gas and bills. Ive watched a ton of your videos and have put them to work and tell everyone I work with to watch them.' In the last 10 days I have closed 1 residential roof, 1 all steel 40' x 40' steel storage barn with 3 40' x 12' overhangs on a ranch 2 cars and in the process of closing a 120 room motel in Irving, Texas. From watching you I have developed a 20 second pitch, a casual conversation pitch, a technical FOMO pitch and come backs for "I'm not interested". This Wednesday I should be receiving a check for $6,300, more if I close the Motel and get my 10% of that first check. Another tool that has been life saving is CompanyCam which I use to make projects using GPS, photos inspections and input info which I combine and edit into a inspection report that I make into a glossy folder I present to the owner as a closing tool. I admit that it feels good being the new guy making heads turn. Thank you so much,
Chaz, CONGRATS DUDE!! So sorry for the slow response. You are a true testament to how important it is to be PERSISTENT and to bet on yourself. You went to great lengths to pull this off, and it's about to pay off in a HUGE way. So honored to be supporting you. So pumped to see you pulling through and not quitting too soon (like many people do). Wishing you wild success!!
I started roofing sales 3 weeks ago, worked weekends until this week when I switched to full time. Ran into multiple people trying to get better deals, seems like they're fishing for a covered deductible or some cash in their pocket. Good to have this knowledge to inform them that all they would pay is a deductible, and that any less is fraudulent. Thanks adam!
Hey Brandon! Welcome to the industry! Glad to have you here. You're in the right place! The deductible objection is going to be a common one. The sooner you learn to overcome that from every dang angle, the better off you'll be. I've covered it in even more detail in a variety of videos in this Objection Playlist: ua-cam.com/play/PLZ20p_mXvgkWRDdDzyEd8auoJHm0lhsjq.html Take a peek and comment with any questions. I read and reply to all of them. Welcome my dude! Time to smash your income goals!
What is fraudulent is you people showing up and wantimg to do no asessment and proposal but asking forminsurance claim paperwork so you cannsee how much money youncan milk for least amount if work. Scumbags! Indont want money in my pocket. I WANT AN ASSESSMENT WITH ALL MATERIALS BEING QUOTED WITH OPTIONS OF UPGRADES AND SO ON.
This is a great tool. I use this with one addition: I clarify the difference between a car claim and a roof claim. You can buy a similar used vehicle for the ACV, but you cannot purchase a used roof. Therefore the insurance company will pay to have your entire roof replaced, and release the depreciation to you upon completion of the project.
Thank you for the video. I’m not a roofer myself but I am a homeowner going through my first roofing claim and this was a big help in understanding the claims process.
Wow! Thanks so much for this info. I believe it’s just what I needed. I’m a homeowner trying to get educated before I replace my 20 year old roof. I’ve wanted & needed to replace it but always procrastinated out of fear of getting “jacked” by a contractor in addition to me not understanding how the insurance part works. Your explanation in this video helps a great deal. Now, all I have to do is pick a roofing contractor that I can trust to do an honest job. Thanks so much!!
This is by far the best and easiest video to follow about understanding how insurance money works. The vehicle analogy was great to include and compare to the roofing side of things. I’m new to the roofing industry with a lot of sales experience, and I have already ran into how understanding and translating this to the homeowners is so crucial. I signed 5 deals my first two days, and this knowledge has made the difference because it cleared up any future miscommunications about what get pays by the insurance, how it gets paid, and what the homeowner has already agreed to pay through their contractual agreement for the fixed price (Their deductible). Other contractors that say they will eat up the homeowners deductible sounds nice to the homeowner until you explain the real process. Like you said in a different video, overcome talk about the deductible by switching it from “I have to pay my deductible?!” To “that’s all I have to pay?” And that only comes with being knowledgeable as their contractor and advocate in this process, and translating that information clearly to the homeowner. Thanks again for the video. Been eating these videos up day and night!
Dude! I am super pumped to see you diving in and USING what you learn. Welcome to the industry and the channel. And CONGRATS on 5 deals in your firs 2 days. Unreal. You are going to CRUSH IT in this industry. Comment on any video. I read and reply to all of them. Be well and thanks again for the comment and sharing your victories!
Dude, this was such an amazing explanation. I will be watching this one over and over. Thank you. We are loving the complete sales strategy and marketing battle pack at my company.
Ah man! So sorry for the delay. I'm pumped you liked this video explanation and even more excited to hear your team is groovin using our sales system! Sending my best dude.
I’m (waiting on final payment of my second job) new to the game, doing this part time around my day job of 18 yrs. This and all the video’s I’ve watched of yours, are complete invaluable!! You have helped me understand so much in so little time!!! Thank you for what you’re doing!
Hey Tim, CONGRATS on wrapping up your 2nd job. That's awesome! I'm honored to help and appreciate you being here :) Comment on any videos - I read and reply to all of them!
Thank you for this! I just got into roof sales and I’m coming into it VERY ignorant, but you’ve armed me with the knowledge I need to get the ball rolling.
Hey Tyler! You sure as heck ARE NOT ignorant if you're investing the time into your own research and learning :) Glad to have you here and stoked to see you finding the knowledge you need to succeed! Stay in touch!
Thanks for this video. I'm a home owner with recent hail damage. Insurance company approved replacement and I received my first check. Adjuster did not do a good job at explaining everything. You did awesome. I feel much better about it all now!
Thanks for the explanation. Having just been thru a catastrophic event with damage, our roofer said exactly the same as you. Makes me feel a tad more confident.
I’ve been roofing for about a month now and was starting to get discouraged with the progress I’m making (very little). I’ve been watching your videos and this one in particular has made me that much more confident in talking to homeowners about the insurance process! Thank you for sharing this knowledge!
Two terms to include..."Recoverable Depreciation" is what happens when you have the "Replacement Cost Benefit". We're seeing more and more claims where the customer has a larger deductible and an ACV policy. Put those together and it is a painful situation for the insured who forgot what kind of policy they bought and don't have an emergency fund set aside to cover it.
I got a question about recoverable depreciation. Lets use an example. Lets say a roof replacement cost is 10K with 50% recoverable depreciation and a 1K deductible. The insurance initial disbursement is 4K. But I find a roofer who can do the job for 9K. So I give him 4K. He completes the job. Do I have to give my deductible of 1k to roofer even though the recoverable depreciation check of 5K can cover the remaining balance? Or will insurance not cut a check until they see I paid roofer my deductible and then just cut me a 4k check?
💪 Glad to hear it! Happy to help my dude. Super pumped to hear you're groovin' on the Roofing Sales Success Formula 3-part series ;) Comment with any questions. Hope you had a great weekend!
What happens if the cost to replace exceeds the the RCV (even with the depreciation). Does the homeowner have to pay the difference out of pocket? I hope that made sense.
Typically if the insurance wants to replace the roof they pay enough for all material, labor & profit. If there is anything unforeseen that is found during the replacement, your contractor will supplement that out to your insurance. This is another reason why it is important to go off your insurance’s estimate instead of a contractor’s estimate. Many people believe a cheaper estimate = money in their pocket when in fact the insurance will adjust their second check to reflect the total cost of the estimate. Leaving you with a lower quality roof and stuck doing the supplements yourself.
The contractor simply supplements the insurance company. Another reason why a contractor should always match penny to penny with insurance because they retain the legal right to supplement.
hey Adam thanks again for all your awesome tips. I'm new into sales and learned alot of tricks so far from you. Can you do a video about the finance options salesman offer the home owners. thanks you.
I have a Customer with the same questions. And I started in this Industry 4 weeks ago. She received a check for $3K. My question is this: 1.- The Second Check,after the new roof are installed, coming under the owner name or under the Roof Company's name?
Great question. Unless you have an AOB (assignment of benefit) which is only legal in some states, the check will be sent to the Homeowner with their name(s) on it. NOTE: In some circumstances, the mortgage holder will also be named on the check(s). If that's the case, contact the lender and they will explain the process you need to go through to get the funds released to you.
What happens if the homeowner does the repairs themselves? They get the initial payment then they buy the materials and do the work. The work gets signed off by the inspectors. Does the homeowner then submit the proof and invoice to the insurance company and receive the additional money from the insurance company. There are some people in the trades who can do their own repairs as owner/builders.
As an insurance professional, yes, our company releases the holdback to the customer. The only situation where we don't entirely release everything is in a situation involving O&P. If the customer does the work himself, we'll give him the overhead but not the profit as obviously, he is not to profit off of insurance.
@@TheRoofStrategist I just wanna be good and honest for the people the are going throughthis shite. I've always seen sales as 70% BS 30% half truth. But I've made close friends in the since I got to America and most of them are in sales. So they've convinced me wrong. And have told me I'd be good at it. I'll be listening to more of your video on the journey up. 🤣
@@marke4576 Glad you are surrounding yourself with GOOD people. Sounds like honest, hard working, ethical sales people! As Jim Rohn once said, "You are the average of the five people you spend the most time with.”
This all makes total sense.. but I do have a question. What if I submitted an insurance claim on a roof that is only a few years old and I receive a check only a few thousand short from RCV? If a roofing company bids the job cheaper than the check I received from insurance then what? If I submit a receipt after the roof gets replaced and it is cheaper then the check they sent me do I pocket the money in that case? That doesn’t seem like fraud to me.
Adam isn't interested in you, an insured homeowner. The UA-cam channel Homestead Roofing, Inc. can answer your questions in one of their videos. They seem to be scrupulous, unlike some.
I know this is an old video, but what are your thoughts on homeowners using some of the ACV value of fence, window screens, etc. to pay their deductible? I've been talking to my customers about that option when they don't want to pay their deductible out of pocket. I don't mind excluding those other line items from my scope of work, but it seems like a fine line. Especially when it is brought up after I've already submitted an estimate to the insurance company that includes ALL the damage that I found during my inspection.
Thank you ! ! I have two jobs upcoming but the homeowner wants me deal with the insurance..... I had no idea what or how would be able to do so.... this video helped me a lot ! Thanks man ! Also is there additional cost for you doing all the paper work and talking to the insurance or how would I go about calculating the total amount for this + the total cost of the roof !
I lost a job to a large national company with poor reviews because they gave the homeowner the option to use the ACV from all items to do the roof and a few other little projects. They were going to forfeit the depreciation since it was small (2 year old roof). Hopefully they will do the low slope area right with code. I could have offered them this same deal but I don't think it is wise to go right to this option.
Bummer man! Not everyone is our customer. I always say to homeowners, "If you're looking for a cut rate price, that means cut rate work. And I'm not willing to cut corners to earn your business." It's a powerful line that gets homeowners to either say, "Well, all I care about is price" and you leave without wasting time, or you grab their attention and win 'em over with VALUE :) Best of luck on the next one!
Does this only apply to insurance paying for the whole job? what about those homeowners that they get a check for partial repairs? how do we go about that?
Partial repairs are generally handled by first trying to get full approval (reinspect + supplement) -- and if that doesn't work, it must be sold like a retail job.
Hey Adam, first off thank you so much for all the invaluable gems you are consistently dropping on youtube, your work is greatly appreciated, I can't wait to purchase your battle pack for my crew for next year. Just had a quick question regarding this example: i know you said the homeowner has to pay the deductible of $1000 however in this case the roof job was $18000, and the homeowner has received the 1st payment of $10 000 - deductible = $9000, and the depreciated amount is of equal value $9000 after the deductible. Why does the homeowner only get $7000 after completing the job and sending invoice? doesn't that mean they have paid the deductible 4times at this point???
HAAG is a requirement for joining insurance list of contractors for claims? Because I have heard they have a list of certified contractors that could replace roof. When claim comes in. Is that kinda True?
Did I I understand you to say that if a customer doesn’t get the roof done and pockets the cash that their house/roof is no longer insured? I’m not sure that’s correct. I always thought it meant they wouldn’t receive anymore funds for subsequent storm damage to the structure
GREAT question. Any items that were paid for, but the damage was NOT fixed is no longer insured. The house itself is still insured. But you cant collect on a a claim, not do the work, and try to file another claim for damage in the future. Make sense? So you can't collect 2x or more. So if a homeowner pockets the cash for the roof and a big storm comes later and tears it off, the insurance won't pay for the roof a 2nd time.
GREAT question and congrats! Find out how long they've been in business. If they have a license. If they are insured. And trust your gut on the feeling you get from the representative you are working with. Also - check their online reputation. That should check all the boxes ;)
Quick question, wouldn't they release the $10k? Because they gave them $9k and there deductible was $1k? That would make the $20k I just want to understand.
@@TheRoofStrategist thanks for prompt reply. I am a roofer in Charlotte and wanted to understand better and was following until I came up with $18k total. I was like "wait a minute did I mess something up?" Lol great videos we are thinking about signing up for your door to door!
@Gena Yev as you'll see, math is not my strength 😂. So yes, example: $20k claim. 50% depreciation (or half of the roof life has been used up) = $10,000 ACV. Subtract the $1,000 deductible. --> $9,000 First payment. What's left will be $10k after you file for depreciation. Also, people ask which program is best? Most affordable option :) www.theroofstrategist.com/storm-battle-pack (most people check the box to add the SALES Strategy) OR The best option to get EVERYTHING in the Roofing Sales Success Formula: www.theroofstrategist.com/get-roofing-sales-success-formula-reps Questions? Email me: adam (at) roofstrategist (dot) com
How does the contractor make a profit? What is the margin or the basis that stops the roofing company from saying we did it for the full amount and then what ever they were able to save in the end due to no over head. Such as having cheaper work or getting materials cheaper due to volume and stuff like that? How when the invoice is sent do they know well this is false and this is just how much the contractor is allowed to come out on top with?
@@andrewnewton6133 - The contractor makes a profit by doing the work. As with any product or service, there's a markup on material and labor. Otherwise they wouldn't stay in business. The insurance estimates are itemized for accountability, so the contractor must do the work that's itemized. Also, the software the insurance company uses is called Xactimate and the prices are updated each month by zip code to reflect fluctuations in material and labor costs.
Thank you for this video. I have a question, you mentioned the insurance will release the depreciation. For instance you said the insurance will release up to the cost to replace the roof and not a dollar more; but what if the cost to fix the roof exceeds the RCV? Will the insurance provide the customer the full amount? As you know, materials and labor costs increase over time.
Great question. Any price difference should be negotiated BEFORE the install occurs. Occasionally you'll find things like additional layers that may not have been found in the initial inspection or scope of loss - and you'll uncover those during the install. Those items MUST be photographed, documented with measurements, and submitted to the insurance carrier in the form of what's known as a "Supplement."
@@TheRoofStrategist Thanks for the quick response. So that means, in order to know if there’s a price difference, the roofer/customer will need to know the RCV on the policy. Correct?
Hey Ben, yes -- you are right. 10k was the depreciation. I always explain it this way as that's how it's laid out on most scopes. I don't want customers to think they "already paid their deductible" or are waiting for the final 10k when in fact their deductible was taken out of the total.
Dude. You'll be fine! I'm horrible at math (as I've proven to you in multiple videos where viewers comment with math corrections). Just bring a calculator. Slow down. And tell homeowners to check your math :) Not kidding - they'll laugh. You got this!
What are the details of a car insurance policy. We're instead of the car being totaled. You're in a car accident. And the insurance company is going to pay for the repairs.
I just did a roof for $18,000 and the insurance gave them a check for $9,000 and the owner paid out of pocket for the rest. You mean I can’t invoice the insurance company and they will reimburse the homeowner??
You should be contacting the insurance company for the adjusted amount like ice barrier and the depreciation and what every additional cost that came. Hope you took pictures of your work before during and after
It’s a confusing analogy for the insured because auto claims are always ACV and property claims can be either. Additionally, you can’t purchase a used roof like you can a used F150. Unless you are well versed in the insurance procedures, you may just confuse them even more
Hey Scott, I haven't personally ever seen a homeowner confused when explaining it this way. I've done it for years and have trained teams across the US to do the same. I've yet to hear any reports of homeowners getting confused by it since I address the difference (auto only getting ACV - but it's an easy analogy to explain the ACV payment on the roof). As with anything you learn (on this channel or elsewhere), it's important to only adopt what works for YOU. If my approach here doesn't jive with you, then roll with the bits that do :) If you have an analogy/story you use instead, I'd love to hear it!
Not paying deductible is insurance fraud. Client pays the deductible to the contractor, body shop, doctors visit . Insurance works the same across the board. That’s how I explain deductible to policy holders.
Someone riddle me this: why does it matter about insurance? The insurance company sends someone out to eval the roof. They determine how much they will pay. Now I can use someone they suggest or I can go find a roofer. I can use the receipt from the roofer as the invoice. The problem is home owners know it doesn’t cost 20k to replace a roof. Why should the roofer pocket 10-15k? Thats why you have these Russian roofing crews running around. Cause it’s so lucrative.
Dude we should write scripts together. Your building blocks/big picture is plain English to me. Emotion sells, but if there’s no logic to go to next they won’t justify that emotional decision, and talk themselves out of a good thing.
Hey Travis! You are 100% right. All decisions are made in this order: Emotions --> Logic --> Fear (of consequences of missing out or not taking action). I've covered this in other videos as well. Really appreciate your kind words and your comment my dude. Great input!
Is this a scam? The same thing happened to my wife's mom. They came to the door and said this appraisal company would be able to do a claim to repair the roof repair with insurance to get the repair for free. Then they filed a claim but never actually repaired the roof. When the check came for $600 they wanted $2000 instead of 30% on the claim. This is a scam to prey on elderly and I will be contacting a lawyer. They had her sign some paper, who even knows what these people are doing. This is some kind of scam that is being pulled?
Oh no - it does sound like there was some fishy business there. To answer your question THIS channel and everything I teach is NOT a scam.There are good, honest, hardworking people here who are dedicated to assisting property owners through the claims process. What happened to your wife's mom is NOT good. I would contact local authorities as well as the state insurance commission. I wish I could be of better help. Hoping for the best for you!
Adam, try to provide a SERVICE to your potential customers. Your message of psyching out the customers may put money into your pocket; but, it doesn't serve the insured, nor, the roofing companies which are, actually, doing the repairs. You, and those who follow your example, are hurting the roofing industry.
The roofer is still going to contract out the job to the cheapest possible crew to do so that they can pocket the biggest profit. Then the crew that is actually doing the job will cut as many corners to cut cost and take the biggest profit. So everyone but the owner gets to pocket. Sounds great.
Adam thank you for this. I'm on my 7th week in roofing sales from 25 years as a fine dining server. My first 5 weeks sucked. The only deals I closed were 2 cars and a residential roof from friends and family. I had burned thru my savings driving up to an hour and a half from home casing hail reports with no success. I pawned my camera equipment for $400 to cover gas and bills. Ive watched a ton of your videos and have put them to work and tell everyone I work with to watch them.' In the last 10 days I have closed 1 residential roof, 1 all steel 40' x 40' steel storage barn with 3 40' x 12' overhangs on a ranch 2 cars and in the process of closing a 120 room motel in Irving, Texas. From watching you I have developed a 20 second pitch, a casual conversation pitch, a technical FOMO pitch and come backs for "I'm not interested". This Wednesday I should be receiving a check for $6,300, more if I close the Motel and get my 10% of that first check. Another tool that has been life saving is CompanyCam which I use to make projects using GPS, photos inspections and input info which I combine and edit into a inspection report that I make into a glossy folder I present to the owner as a closing tool. I admit that it feels good being the new guy making heads turn.
Thank you so much,
Chaz, CONGRATS DUDE!! So sorry for the slow response. You are a true testament to how important it is to be PERSISTENT and to bet on yourself. You went to great lengths to pull this off, and it's about to pay off in a HUGE way. So honored to be supporting you. So pumped to see you pulling through and not quitting too soon (like many people do). Wishing you wild success!!
Congrats how roofing sales doing for you so far
Hey I'm trying to break into Roofing sales and am also coming from fine dining! Hows it going?
Update?
@@SSJDuBoisIt's not. He obviously already resigned. Which is why so many roofing companies are seeking salesmen.
I started roofing sales 3 weeks ago, worked weekends until this week when I switched to full time. Ran into multiple people trying to get better deals, seems like they're fishing for a covered deductible or some cash in their pocket. Good to have this knowledge to inform them that all they would pay is a deductible, and that any less is fraudulent. Thanks adam!
Hey Brandon! Welcome to the industry! Glad to have you here. You're in the right place! The deductible objection is going to be a common one. The sooner you learn to overcome that from every dang angle, the better off you'll be. I've covered it in even more detail in a variety of videos in this Objection Playlist: ua-cam.com/play/PLZ20p_mXvgkWRDdDzyEd8auoJHm0lhsjq.html Take a peek and comment with any questions. I read and reply to all of them. Welcome my dude! Time to smash your income goals!
Who cares bro you don’t think insurance does fraud as well 😂
What is fraudulent is you people showing up and wantimg to do no asessment and proposal but asking forminsurance claim paperwork so you cannsee how much money youncan milk for least amount if work. Scumbags! Indont want money in my pocket. I WANT AN ASSESSMENT WITH ALL MATERIALS BEING QUOTED WITH OPTIONS OF UPGRADES AND SO ON.
Man can someone help teach me more roof sales I'm just getting into it
@oberweiss7190 What?
Homeowners can not get the deductible "paid" for. Many times I see this being asked.
This is a great tool. I use this with one addition: I clarify the difference between a car claim and a roof claim. You can buy a similar used vehicle for the ACV, but you cannot purchase a used roof. Therefore the insurance company will pay to have your entire roof replaced, and release the depreciation to you upon completion of the project.
WELL SAID! I love that. Thanks for sharing this golden nugget my dude!
Great answer!
Thank you for the video. I’m not a roofer myself but I am a homeowner going through my first roofing claim and this was a big help in understanding the claims process.
Wow! Thanks so much for this info. I believe it’s just what I needed. I’m a homeowner trying to get educated before I replace my 20 year old roof. I’ve wanted & needed to replace it but always procrastinated out of fear of getting “jacked” by a contractor in addition to me not understanding how the insurance part works. Your explanation in this video helps a great deal. Now, all I have to do is pick a roofing contractor that I can trust to do an honest job. Thanks so much!!
You are very welcome! Glad to help!
This is by far the best and easiest video to follow about understanding how insurance money works. The vehicle analogy was great to include and compare to the roofing side of things. I’m new to the roofing industry with a lot of sales experience, and I have already ran into how understanding and translating this to the homeowners is so crucial. I signed 5 deals my first two days, and this knowledge has made the difference because it cleared up any future miscommunications about what get pays by the insurance, how it gets paid, and what the homeowner has already agreed to pay through their contractual agreement for the fixed price (Their deductible). Other contractors that say they will eat up the homeowners deductible sounds nice to the homeowner until you explain the real process. Like you said in a different video, overcome talk about the deductible by switching it from “I have to pay my deductible?!” To “that’s all I have to pay?” And that only comes with being knowledgeable as their contractor and advocate in this process, and translating that information clearly to the homeowner. Thanks again for the video. Been eating these videos up day and night!
Dude! I am super pumped to see you diving in and USING what you learn. Welcome to the industry and the channel. And CONGRATS on 5 deals in your firs 2 days. Unreal. You are going to CRUSH IT in this industry. Comment on any video. I read and reply to all of them. Be well and thanks again for the comment and sharing your victories!
@@TheRoofStrategist Anytime buddy!
@@Major4D 🤘
I've been watching you for hours its 3:22 am, I doing hard studying thank you for the content.
Dude, this was such an amazing explanation. I will be watching this one over and over. Thank you. We are loving the complete sales strategy and marketing battle pack at my company.
Ah man! So sorry for the delay. I'm pumped you liked this video explanation and even more excited to hear your team is groovin using our sales system! Sending my best dude.
You great Adam you explain everything so clear
I appreciate you!
I’m (waiting on final payment of my second job) new to the game, doing this part time around my day job of 18 yrs.
This and all the video’s I’ve watched of yours, are complete invaluable!! You have helped me understand so much in so little time!!! Thank you for what you’re doing!
Hey Tim, CONGRATS on wrapping up your 2nd job. That's awesome! I'm honored to help and appreciate you being here :) Comment on any videos - I read and reply to all of them!
Tim, what 5 videos do you recommend for newbie looking to start selling roofs as quick as you? Thanks!
Thank you for this! I just got into roof sales and I’m coming into it VERY ignorant, but you’ve armed me with the knowledge I need to get the ball rolling.
Hey Tyler! You sure as heck ARE NOT ignorant if you're investing the time into your own research and learning :) Glad to have you here and stoked to see you finding the knowledge you need to succeed! Stay in touch!
Thanks for this video. I'm a home owner with recent hail damage. Insurance company approved replacement and I received my first check. Adjuster did not do a good job at explaining everything. You did awesome. I feel much better about it all now!
Honored to support you and sending my best as you go through this process!
Thanks for the explanation. Having just been thru a catastrophic event with damage, our roofer said exactly the same as you. Makes me feel a tad more confident.
Great info for a customer going through this for the first time. Simple explanation.
Thank you for this explanation! I'm a roof owner and this helped me understand my claim.
Good luck with your income goals!
Man this just helped a lot bro thanks
💪Glad to hear it dude! Happy to help :) Thanks for the comment!
Wow thank you so much for teaching us people interested in this field
I’ve been roofing for about a month now and was starting to get discouraged with the progress I’m making (very little). I’ve been watching your videos and this one in particular has made me that much more confident in talking to homeowners about the insurance process! Thank you for sharing this knowledge!
Glad to help, Bailey! This industry isn't easy. LOTS of ups and downs. Keep keepin' on. You got this dude!
How is it going now a month later?
Two terms to include..."Recoverable Depreciation" is what happens when you have the "Replacement Cost Benefit".
We're seeing more and more claims where the customer has a larger deductible and an ACV policy. Put those together and it is a painful situation for the insured who forgot what kind of policy they bought and don't have an emergency fund set aside to cover it.
Great videos! Wouldn't the depreciation release amount be $10k...?
Thank you, Adam. Great video
You got it my dude! Thanks for the comment!
I got a question about recoverable depreciation. Lets use an example. Lets say a roof replacement cost is 10K with 50% recoverable depreciation and a 1K deductible. The insurance initial disbursement is 4K. But I find a roofer who can do the job for 9K. So I give him 4K. He completes the job. Do I have to give my deductible of 1k to roofer even though the recoverable depreciation check of 5K can cover the remaining balance? Or will insurance not cut a check until they see I paid roofer my deductible and then just cut me a 4k check?
Great video yet again Adam. 👏 enjoying the roofing sales success formula so far!
💪 Glad to hear it! Happy to help my dude. Super pumped to hear you're groovin' on the Roofing Sales Success Formula 3-part series ;) Comment with any questions. Hope you had a great weekend!
What happens if the cost to replace exceeds the the RCV (even with the depreciation). Does the homeowner have to pay the difference out of pocket? I hope that made sense.
Great question… excited to hear what our roof strategist has to say
Typically if the insurance wants to replace the roof they pay enough for all material, labor & profit. If there is anything unforeseen that is found during the replacement, your contractor will supplement that out to your insurance. This is another reason why it is important to go off your insurance’s estimate instead of a contractor’s estimate. Many people believe a cheaper estimate = money in their pocket when in fact the insurance will adjust their second check to reflect the total cost of the estimate. Leaving you with a lower quality roof and stuck doing the supplements yourself.
The contractor simply supplements the insurance company. Another reason why a contractor should always match penny to penny with insurance because they retain the legal right to supplement.
Excellent video my man!Ive been roofing for over 15 yrs and finally getting into roofing sales for myself.You helped very much.ty
Rock on! You are welcome! Glad to have you here.
I followed 56% of this
hey Adam thanks again for all your awesome tips. I'm new into sales and learned alot of tricks so far from you.
Can you do a video about the finance options salesman offer the home owners. thanks you.
Great to have you here! Thanks for the kind words, too :) That's a GREAT video idea and I just added it to my list :)
Good stuff!
I have a Customer with the same questions. And I started in this Industry 4 weeks ago. She received a check for $3K. My question is this:
1.- The Second Check,after the new roof are installed, coming under the owner name or under the Roof Company's name?
Great question. Unless you have an AOB (assignment of benefit) which is only legal in some states, the check will be sent to the Homeowner with their name(s) on it. NOTE: In some circumstances, the mortgage holder will also be named on the check(s). If that's the case, contact the lender and they will explain the process you need to go through to get the funds released to you.
What happens if the homeowner does the repairs themselves? They get the initial payment then they buy the materials and do the work. The work gets signed off by the inspectors. Does the homeowner then submit the proof and invoice to the insurance company and receive the additional money from the insurance company. There are some people in the trades who can do their own repairs as owner/builders.
Great question. I don't know how to answer that one. I would defer to the policy language.
As an insurance professional, yes, our company releases the holdback to the customer. The only situation where we don't entirely release everything is in a situation involving O&P. If the customer does the work himself, we'll give him the overhead but not the profit as obviously, he is not to profit off of insurance.
Audience, the homeowner will receive the funds just as contractor, as long as there are photos of the complete work performed or invoices attached.
@@donaldtate3372 this was my question too. Thank you!
How do you find out the RCV? And what if homeowner refuses to give up the depreciated value check to contractor?
Can you get homeowners insurance to purchase a property that has a roof that is over 10 years old?
Good stuff boss
Appreciate ya dude!
Thanks for all the advice boss man. Heading to Louisiana to give it a go.
You are very welcome my dude. Super glad to have you here. Good luck in Louisiana and take good care of people - you'll do great!
@@TheRoofStrategist
I just wanna be good and honest for the people the are going throughthis shite. I've always seen sales as 70% BS 30% half truth. But I've made close friends in the since I got to America and most of them are in sales. So they've convinced me wrong. And have told me I'd be good at it.
I'll be listening to more of your video on the journey up. 🤣
@@marke4576 Glad you are surrounding yourself with GOOD people. Sounds like honest, hard working, ethical sales people! As Jim Rohn once said, "You are the average of the five people you spend the most time with.”
This all makes total sense.. but I do have a question. What if I submitted an insurance claim on a roof that is only a few years old and I receive a check only a few thousand short from RCV? If a roofing company bids the job cheaper than the check I received from insurance then what? If I submit a receipt after the roof gets replaced and it is cheaper then the check they sent me do I pocket the money in that case? That doesn’t seem like fraud to me.
Adam isn't interested in you, an insured homeowner. The UA-cam channel Homestead Roofing, Inc. can answer your questions in one of their videos. They seem to be scrupulous, unlike some.
How can i come up with the repair order going try and get my pops a new roof
I know this is an old video, but what are your thoughts on homeowners using some of the ACV value of fence, window screens, etc. to pay their deductible? I've been talking to my customers about that option when they don't want to pay their deductible out of pocket. I don't mind excluding those other line items from my scope of work, but it seems like a fine line. Especially when it is brought up after I've already submitted an estimate to the insurance company that includes ALL the damage that I found during my inspection.
Have you collected further insight into this.
Hi just went through a Hurricane, what happens when people let a handy person just put the shingles back on the roof?
Great video!
Glad you enjoyed it
Thank you ! ! I have two jobs upcoming but the homeowner wants me deal with the insurance..... I had no idea what or how would be able to do so.... this video helped me a lot ! Thanks man !
Also is there additional cost for you doing all the paper work and talking to the insurance or how would I go about calculating the total amount for this + the total cost of the roof !
I am new to this and I need help invoicing the insurance so they can release the depreciation. Any help/videos on this? Thanks!
I lost a job to a large national company with poor reviews because they gave the homeowner the option to use the ACV from all items to do the roof and a few other little projects. They were going to forfeit the depreciation since it was small (2 year old roof). Hopefully they will do the low slope area right with code. I could have offered them this same deal but I don't think it is wise to go right to this option.
Bummer man! Not everyone is our customer. I always say to homeowners, "If you're looking for a cut rate price, that means cut rate work. And I'm not willing to cut corners to earn your business." It's a powerful line that gets homeowners to either say, "Well, all I care about is price" and you leave without wasting time, or you grab their attention and win 'em over with VALUE :) Best of luck on the next one!
Is the initial payment enough to cover materials and labor ?
Depends on the situation. Sometimes yes, sometimes no.
Does this only apply to insurance paying for the whole job? what about those homeowners that they get a check for partial repairs? how do we go about that?
Partial repairs are generally handled by first trying to get full approval (reinspect + supplement) -- and if that doesn't work, it must be sold like a retail job.
Can the home owner still pay the contractor the rcv to do the roof than hand in the invoice to insurance co. For the depreciation value ?
Technically yes.
Hey Adam, first off thank you so much for all the invaluable gems you are consistently dropping on youtube, your work is greatly appreciated, I can't wait to purchase your battle pack for my crew for next year. Just had a quick question regarding this example: i know you said the homeowner has to pay the deductible of $1000 however in this case the roof job was $18000, and the homeowner has received the 1st payment of $10 000 - deductible = $9000, and the depreciated amount is of equal value $9000 after the deductible. Why does the homeowner only get $7000 after completing the job and sending invoice? doesn't that mean they have paid the deductible 4times at this point???
Thank you for sharing
Grateful to help! Comment on any videos with questions etc. I read and reply to every single one I can!
What happens if insurance pays out more than what the actual job cost. After sending an invoice to them will they still release the depreciation cost?
Hello, I have a question do I as a contractor need a HAAG certification in order to do or start a roof claim just insurances?
Happy to help. No it is not a requirement.
HAAG is a requirement for joining insurance list of contractors for claims? Because I have heard they have a list of certified contractors that could replace roof. When claim comes in. Is that kinda True?
I just got quoted general liability as a new roofing contractor I have questions on is this accurate and my only option?
wont stop cant stop
YES!
Ty keep it up
With the viedo ur helping
Thank YOU for the comment, Peter! you can count on it :)
Did I I understand you to say that if a customer doesn’t get the roof done and pockets the cash that their house/roof is no longer insured? I’m not sure that’s correct. I always thought it meant they wouldn’t receive anymore funds for subsequent storm damage to the structure
GREAT question. Any items that were paid for, but the damage was NOT fixed is no longer insured. The house itself is still insured. But you cant collect on a a claim, not do the work, and try to file another claim for damage in the future. Make sense? So you can't collect 2x or more. So if a homeowner pockets the cash for the roof and a big storm comes later and tears it off, the insurance won't pay for the roof a 2nd time.
Theres no better way then to just do it go out there and do it .
💪 100%
As the contractor, The amount paid to me would be $9k? i am slightly confused. I am just starting a roofing company.
I appreciate your advice.
Happy to help. You would get paid EVERYTHING (the total RCV) after you file for depreciation to release the remaining funds :)
@@TheRoofStrategist ok. $9k upfront, then $10k after. Holy Guacamoly.
@@TheRoofStrategist does it not depend on the commission % as well?
@@churbum9907 This isn't about commission. This is about how the insurance money works for the COST of the project.
@@TheRoofStrategist ohh okay thank you! So much
This is a great video
Glad to help!
Who will get the depreciation money the home owner or contractor
Get your contractors license, sub out the job and send the Insurance company an invoice.
Im about to get a roof. How do I check do I check to see if the contractor is legit?
GREAT question and congrats!
Find out how long they've been in business. If they have a license. If they are insured. And trust your gut on the feeling you get from the representative you are working with. Also - check their online reputation. That should check all the boxes ;)
The only deduction is the deductible so shouldn’t the total between both checks be 19,000 after the 1,000 deductible???
A 9,000 and then a 10,000?
Why would the homeowner pay the deductible twice in your example?
Quick question, wouldn't they release the $10k? Because they gave them $9k and there deductible was $1k? That would make the $20k I just want to understand.
My bad on the math front! Yes. Since the deductible is usually taken from the initial ACV payment.
@@TheRoofStrategist thanks for prompt reply. I am a roofer in Charlotte and wanted to understand better and was following until I came up with $18k total. I was like "wait a minute did I mess something up?" Lol great videos we are thinking about signing up for your door to door!
@Gena Yev as you'll see, math is not my strength 😂. So yes, example: $20k claim. 50% depreciation (or half of the roof life has been used up) = $10,000 ACV. Subtract the $1,000 deductible. --> $9,000 First payment. What's left will be $10k after you file for depreciation.
Also, people ask which program is best?
Most affordable option :) www.theroofstrategist.com/storm-battle-pack (most people check the box to add the SALES Strategy)
OR
The best option to get EVERYTHING in the Roofing Sales Success Formula: www.theroofstrategist.com/get-roofing-sales-success-formula-reps
Questions? Email me: adam (at) roofstrategist (dot) com
I love you dude❤
Then how do u make profits?
How does who make a profit? The sales rep? The roofing company? My earning (selling) the job.
How does the contractor make a profit? What is the margin or the basis that stops the roofing company from saying we did it for the full amount and then what ever they were able to save in the end due to no over head. Such as having cheaper work or getting materials cheaper due to volume and stuff like that? How when the invoice is sent do they know well this is false and this is just how much the contractor is allowed to come out on top with?
@@andrewnewton6133 - The contractor makes a profit by doing the work. As with any product or service, there's a markup on material and labor. Otherwise they wouldn't stay in business. The insurance estimates are itemized for accountability, so the contractor must do the work that's itemized. Also, the software the insurance company uses is called Xactimate and the prices are updated each month by zip code to reflect fluctuations in material and labor costs.
Thank you for this video. I have a question, you mentioned the insurance will release the depreciation. For instance you said the insurance will release up to the cost to replace the roof and not a dollar more; but what if the cost to fix the roof exceeds the RCV? Will the insurance provide the customer the full amount? As you know, materials and labor costs increase over time.
Great question. Any price difference should be negotiated BEFORE the install occurs. Occasionally you'll find things like additional layers that may not have been found in the initial inspection or scope of loss - and you'll uncover those during the install. Those items MUST be photographed, documented with measurements, and submitted to the insurance carrier in the form of what's known as a "Supplement."
@@TheRoofStrategist Thanks for the quick response. So that means, in order to know if there’s a price difference, the roofer/customer will need to know the RCV on the policy. Correct?
@@chazlafont Slight correction. NOT the RCV on the policy -- the RCV on the claim. Learn more in this video: ua-cam.com/video/HvJ3iA8kLAs/v-deo.html
10k is the deprecation amount bud.
Hey Ben, yes -- you are right. 10k was the depreciation. I always explain it this way as that's how it's laid out on most scopes. I don't want customers to think they "already paid their deductible" or are waiting for the final 10k when in fact their deductible was taken out of the total.
1 more thing I suck at math I hope this doesn’t affect my job
Dude. You'll be fine! I'm horrible at math (as I've proven to you in multiple videos where viewers comment with math corrections). Just bring a calculator. Slow down. And tell homeowners to check your math :) Not kidding - they'll laugh. You got this!
What are the details of a car insurance policy. We're instead of the car being totaled. You're in a car accident. And the insurance company is going to pay for the repairs.
I just did a roof for $18,000 and the insurance gave them a check for $9,000 and the owner paid out of pocket for the rest. You mean I can’t invoice the insurance company and they will reimburse the homeowner??
wish they wouldve answered this!!
You should be contacting the insurance company for the adjusted amount like ice barrier and the depreciation and what every additional cost that came. Hope you took pictures of your work before during and after
It depends on the policy if they will cover the depreciation on the roof or not.
Just a heads up!!! YOU SHOULD NEVER USE THE TERM “Like - Kind - Quality” if you are interested in the proper term ! Get ahold of me!
It’s a confusing analogy for the insured because auto claims are always ACV and property claims can be either. Additionally, you can’t purchase a used roof like you can a used F150. Unless you are well versed in the insurance procedures, you may just confuse them even more
Hey Scott, I haven't personally ever seen a homeowner confused when explaining it this way. I've done it for years and have trained teams across the US to do the same. I've yet to hear any reports of homeowners getting confused by it since I address the difference (auto only getting ACV - but it's an easy analogy to explain the ACV payment on the roof). As with anything you learn (on this channel or elsewhere), it's important to only adopt what works for YOU. If my approach here doesn't jive with you, then roll with the bits that do :) If you have an analogy/story you use instead, I'd love to hear it!
Not paying deductible is insurance fraud. Client pays the deductible to the contractor, body shop, doctors visit . Insurance works the same across the board.
That’s how I explain deductible to policy holders.
Someone riddle me this: why does it matter about insurance? The insurance company sends someone out to eval the roof. They determine how much they will pay. Now I can use someone they suggest or I can go find a roofer. I can use the receipt from the roofer as the invoice.
The problem is home owners know it doesn’t cost 20k to replace a roof. Why should the roofer pocket 10-15k? Thats why you have these Russian roofing crews running around. Cause it’s so lucrative.
Hi ricky watch this video
Dude we should write scripts together. Your building blocks/big picture is plain English to me. Emotion sells, but if there’s no logic to go to next they won’t justify that emotional decision, and talk themselves out of a good thing.
Hey Travis! You are 100% right. All decisions are made in this order: Emotions --> Logic --> Fear (of consequences of missing out or not taking action). I've covered this in other videos as well. Really appreciate your kind words and your comment my dude. Great input!
@@TheRoofStrategist I'm glad I caught you before you made the roofing course that's bout to be industry standard 😭🤌🤌🤌🤌🙏🙏🙏
@@drprofessorpowersport Glad to have you here my dude!
Why’s it so complicated
🙏🙏🙏
Is this a scam? The same thing happened to my wife's mom. They came to the door and said this appraisal company would be able to do a claim to repair the roof repair with insurance to get the repair for free. Then they filed a claim but never actually repaired the roof. When the check came for $600 they wanted $2000 instead of 30% on the claim. This is a scam to prey on elderly and I will be contacting a lawyer. They had her sign some paper, who even knows what these people are doing. This is some kind of scam that is being pulled?
Oh no - it does sound like there was some fishy business there. To answer your question THIS channel and everything I teach is NOT a scam.There are good, honest, hardworking people here who are dedicated to assisting property owners through the claims process. What happened to your wife's mom is NOT good. I would contact local authorities as well as the state insurance commission. I wish I could be of better help. Hoping for the best for you!
Roof salesmen walk in the gray area. Never let someone who comes to your home without you calling them first, on your roof.
@ysk2083 yea that's what I told her
Hello Adam. Thanks for explaining a difficult subject. I hope to connect with you at your phone number, as I have some further questions.
You are very welcome! You can contact our office via call/text at 303-222-7133
Adam, try to provide a SERVICE to your potential customers. Your message of psyching out the customers may put money into your pocket; but, it doesn't serve the insured, nor, the roofing companies which are, actually, doing the repairs. You, and those who follow your example, are hurting the roofing industry.
!
A roof goes for $12k by me, the crook roofer charges the insurance $33k and thinks he’s doing the world a favor….
Roof salesmen are the problem. Not the owner, not the Insurance company, and not the actual roofers.
The roofer is still going to contract out the job to the cheapest possible crew to do so that they can pocket the biggest profit. Then the crew that is actually doing the job will cut as many corners to cut cost and take the biggest profit. So everyone but the owner gets to pocket. Sounds great.