The Basics
In this section, we cover the basics of the position that you will need to understand before you progress through this training program. These things will General terms, Programs insurance companies use to write estimates and a complete description of what a deductible is and our policies regarding those deductibles. If at any time you have questions please reach out to your training manager. We want to make sure you fully understand everything.
General Insurance Terms
In the video below we will discuss a basic overview of our dealings with the insurance companies where you can be empowered to speak confidently to them. We will review the key players from the insurance company, definitions and key terms commonly used, policy types, coverages, and deductibles.
Understanding a Summary
Once the damages are assessed the insurance company will write an estimate for repairs to the property. For standardization, most companies use one of two software programs: Xactimate or Symbility. Xactimate is used at American Roofing Company and certainly the program of choice for the majority of insurance companies.
This video discusses how to properly interpret estimates from both software to properly review what is being estimated by the insurance company. We will also review which estimate items are related to our work and which should be subtracted. With some companies estimating code upgrades on the initial estimate, we show how to interpret and add those to our contracts. Other items discussed revolve around the location and inclusion of Overhead and Profit, as well as taxes and dumpsters.