What it means to be a Preferred Vendor?

6/7/2022 (Permalink)

We are a restoration company that provides quality workmanship.

When property restoration business owners become preferred vendors with insurance companies, it means that the restoration business provides quality workmanship and works well with the insurance providers. Property can choose their own cleanup and remediation companies, but when they chose from the preferred vendor program, there's an expectation of good quality services.

An insurance agent typically provides contact information for companies who meet the following qualifications:

• Compliance with standards set by the Institute of Inspection Cleaning and Restoration Certification
• Compliance with standardized pricing and a willingness to provide services at a discount
• Compliance with insurance company requirements

How Vendors Reach Preferred Status

There are several steps a property restoration company must do to become part of a vendor program. SERVPRO, for example, agrees to 21 guidelines established by insurance companies. Some of these requirements include employee background checks, equipment maintenance, ongoing safety trainings, and proper drying validations. Many of the requirements are measured against standards from the IICRC.

Insurance Companies Benefit From Working With Preferred Vendors

The insurance agent, the adjuster, and the underwriters have many reasons to work with companies, such as SERVPRO. Working with compliant vendors makes the insurance company's job easier.

• Resources, including training, equipment, and account managers, are shared on a national level.
• Oversight is consistent across the country due to consistent training and audits.
• Local offices are located all over the country, so customers receive services quickly.
• Reporting is handled on multiple levels for thorough management purposes.

Preferred Vendors Benefit As Well

In return for working closely with large insurance companies, preferred vendors get a lot of work sent their way. The cleanup and restoration professionals don't have to spend as much time or energy on marketing. They can refer their clients to insurance companies for positive referrals.

A Layton, UT, insurance agent wants to provide clients with cost-effective solutions. A quick response from remediation professionals and top-quality methods can keep claims costs lower by reducing the potential for further damages. Local franchises that meet the right requirements can be powerful advocates for insurance companies and customers.