I am a contractor in Colorado and I have just started my own sales division in the insurance restoration business. I have always been a sub contractor that just showed up and new code to install roofing. I am learning every day on the side of things that pertain to the final invoicing of the insurance company. I am having big issues with AMFAM at the moment saying they do not pay overhead and profit. This is definitely hurting my bottom line, I have not accepted no for an answer and I really need some help on how to push past this NO… If I do not get my O&P on these jobs my profit margins are literally 16% and this will bankrupt me in a hurry. Please help… Is there anyone in Colorado who will take on the supplement portion of my business or just point me in the correct direction on how to get AMFAM to pay? Thank you in advance for any help given.
Here the problem and i am not trying to put down you and most the roofers on here due not know about insurance first of all you will here insurance company say you need 3 trades for op which is not true insurance policy are replacement cost value it says in the likely event the homeowner is going to use General contractor they are entitled to op there are case law state farm allstae which got sued for bad faith claims because they were not paying it
There not giving it to you the homeowner policy dictates you are entitled to it its bad faith claim if the refuse
I’d like to see a policy where it states the contractor is entitled to o and p. I would suggest you find a good public adjuster to work with on these files.
This belongs in the Insurance sub-forum.
I am public adjuster and there are plenty of case laws were state farm and other insurance company got sued for bad faith claims for not paying op and if you want i will send you the case laws
That would be great, I am open to all the help I can get. Thank you in advance.
I’m running into the same problem. The thing is I’ve contacted a number of attorneys who specialize in insurance law and none of them have a clue as to what I’m talking about. AMFAM’s old “policy” stated at least three sub invoices. Now they say no o&p on any exterior work. I guess the question is how do you actually combat this? I can site the law till I’m blue in the face and the adjuster just says it’s our “policy.” Same with Safeco: they are refusing o&p on the roof even though I’ve legitimately sub contracted out to another roofing company and I’m eating about $15k and a lot of time with no return. Do I send a letter? I’ve even had homeowners call their agent to see if our invoices are covered under their policy and they basically say “it’s an adjuster thing.”