4 Things Insurance Companies Consider When Creating a Preferred Vendors List

3/15/2022 (Permalink)

SERVPRO can help you provide before and after pictures from your business damaged by flooding.

Four Factors Insurance Companies Consider When Developing A Preferred Vendors List

Your insurance agent just gave you a list of their preferred disaster restoration professionals. You're probably wondering how they decided on this list. Here are some of the steps insurance companies use to decide on preferred vendors.

1. What They Offer

That list your insurance agent gave you will have similar companies. You will notice that they are well-known companies that are established in the remediation industry. They have the appropriate certifications and trained staff. Plus, they are capable of doing a variety of restoration work. Some may even be willing to work directly with your insurance company. This is not by mistake. Your insurance company sat down and searched out vendors in your area that offered the most desirable services.

2. How They Meet Requirements

Once they find potential vendors in Mariner, FL, insurance companies sit down with them and determine if they can work together. They discuss what the insurance company is looking for in a vendor. The vendor will propose how they meet these requirements. It will also likely supply examples of past work. For instance, a restoration company may provide before and after pictures from a business damaged by flooding.

3. If They Offer Quality Work

You'll notice the list your insurance agent gave you has multiple vendors on it. This is because multiple contractors can meet the requirements. All of these candidates have gone through the vetting process. This process is what your insurance company uses to ensure they offer quality work. Your insurance company will examine all of their potential candidates and include those who offer quality work and meet their other requirements.

4. If They Continue To Perform

Once in the vendor program, the process doesn't end. The companies are monitored continuously. Their work is reviewed, and they must continue to provide high-quality services.

To the excitement of clients, many insurance companies offer a preferred vendors list. Choosing one of the companies on these lists, such as SERVPRO, ensures you get quality work. This is because potential vendors go through an extensive vetting process to become a preferred company.