mtnelectrical
Senior Member
- Location
- Essex, New Jersey
Have you ever heard about insurance companies having listed electrical contractors to be used by their insurees?
many insurance companies have lists of preferred contractors. they are contractors that have agreed to accept the price the insurance company says the work will cost.
the benefit to the HO is that usually the insurance company offers some kind of warranty if you use their preferred contractors.
the benefit to the contractor is that the contractor gets work that the insurance company has paid to estimate the cost on, and they are very good at it.
Preffered contractors are those that they preffer to see who can under bid the next one until the insurance company pays as little as possible. Priced up a fire damaged home that required an entire rewire. 2800 sq feet. they came in at $6,600.00 inculding a new service. Some one got the job.
pretty much how it works.... when i got flooded in feb., AAA has their "preferred"
contractor, who demoed and gave a BS estimate to repair. he made $5k for a days
work for a crew, and gave a estimate that was maybe $12k below what it would take
to fix. AAA cuts me a check for that amount, less deductable, and walks away.
the "contractor" won't do the work for that, he wants to then upsell the frack out
of you, and when you don't roll over and spew money, he disappears like the morning
mist.
and then you fix it yourself, with what you were given.
kinda the "company store" setup. no three bids, etc.
That is not the experience I have had or that others I know have had with the process. Might be the insurance company is the issue, but from what I have heard it is a relatively painless process for both the HO and the contractor, and the insurance company is generally quite fair about it.
I have had several claims handled this way and know of a number of people who had their claims handled this way with absolutely none of the issues you are claiming.
This is the way that virtually all car insurance claims are handled these days and it works pretty well mostly.
Well, I have heard about these listed electrical contractors, but I have never used them for my work. I think they will have some prior agreement with the electrician to provide the work in bulk and for some lower cost. By this the company makes sure that the customer is not asking for more damage bill.Have you ever heard about insurance companies having listed electrical contractors to be used by their insurees?