Page 9 - Book1

Claim Your Insurance Lottery Ticket

II

INSURANCE RESTORATION INDUSTRY

How big is the Insurance Restoration Business?
Insurance restoration is a rapidly changing field. In just a few short
decades, it’s gone from what was basically a sideline occupation to the
well-respected construction specialty that it is today. Insurance restoration,
nationally, is a $200 billion a year industry. It is actually one of the most
interesting, exciting, and challenging trades in the construction industry but
apparently it’s also one of the least known and understood, as well as one of
the hardest to explain in a sentence or two. I guess if you had to put it into a
single sentence, it would be something like this: When damage occurs to a
building, and that damage is covered by an insurance policy, the insurance
restoration contractor is the person who steps in to do the work. Insurance
restoration estimates are very thorough. They’ll probably be the most
thorough that you’ve ever prepared. While that may take some getting used to
at first, it ensures that you rarely miss anything. But if you do miss something,
the insurance company will typically allow you to bill for it later.
Construction is a relatively easy field to get into, so there are a lot of
construction companies around. They come and go, but aren’t necessarily
sold. But insurance restoration is different because of the equipment you need
for the specialized work and the insurance company contacts you makes it an
easier business package to sell when you’re ready to retire.

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