How much is an insurance replacement worth??
Posted: March 29th, 2009, 9:18 pm
I recently started my own repair company and I am going to make a huge effort to direct replacement customers to a shop that will take care of them. My questoion is this... What is the average ins. payout on a replacement vs. cost to replace it. ie materials and labor . I understand that it varies depending on the type of vehicle, but i am just interested in the overall average. The reason being is that In the past when I worked for someone doing repairs, the technicians that I managed probably turned down over 80 valuable replacement customers a month simply because the co i worked for was not smart enough to have set up a refferal program.
I spoke with an individual that had set up a vary lucrative refferal program with an install company, where he set up the claim and the appointment for the install (leaving a 4 hour window) then called the install company with the ref # and customer info. All that the install company had to do was show up and install. I am wondering If you had no marketing cost and just had to show up and install, roughly how much margin is left (on average) and how much you would pay per deal if someone could get you over 900 installs a year on top of what you are already doing... Right now I just dont want the liability and overhead involved with doing replacements. maybe in the future though I just want to know theoretically what dollar amount you could pay someone bringing in that type of volume while still making a profit for yourself, before I approach these install companies with this proposition...
Thanks so much guys...
I spoke with an individual that had set up a vary lucrative refferal program with an install company, where he set up the claim and the appointment for the install (leaving a 4 hour window) then called the install company with the ref # and customer info. All that the install company had to do was show up and install. I am wondering If you had no marketing cost and just had to show up and install, roughly how much margin is left (on average) and how much you would pay per deal if someone could get you over 900 installs a year on top of what you are already doing... Right now I just dont want the liability and overhead involved with doing replacements. maybe in the future though I just want to know theoretically what dollar amount you could pay someone bringing in that type of volume while still making a profit for yourself, before I approach these install companies with this proposition...
Thanks so much guys...