Contractor Can and Can't's
TRUE or FALSE: A contractor can give the carrier’s adjuster an estimate and discuss it with them.
What is TRUE?
You calculate this by dividing your total marketing and sales spend by the number of new clients you signed.
What is Customer Acquisition Cost (CAC)?
This small, green Jedi Master is known for speaking with his words in backward order.
Who is Yoda?
This national PA association was founded in 1951.
What is NAPIA (National Association of Public Insurance Adjusters)?
TRUE or FALSE: A roofer can “take care of” the homeowner’s deductible as long as the homeowner agrees to it in writing.
What is FALSE?
You’re profitable on paper but can’t make payroll Friday. This is the metric you’ve been ignoring.
What is cash flow?
Han Solo flies this ship, which made the Kessel Run in less than 12 parsecs.
What is the Millennium Falcon?
NAPIA held its first formative meeting in this East Coast city.
What is Atlantic City, New Jersey?
TRUE or FALSE: A contractor can negotiate the claim on a property they’re working on if the homeowner signs a power of attorney.
What is FALSE?
This is the revenue level at which your total revenue equals your total costs.
What is the break-even point?
Luke Skywalker grew up on this desert planet with two suns.
What is Tatooine?
NAPIA’s first president, who led the organization for its first six years.
Who is Will Goodman?
A contract paid from insurance proceeds must include the state’s deductible-payment notice if the contract price is at least this amount.
What is $1,000?
This acronym is the profit figure you get before interest, taxes, depreciation and amortization are taken out.
What is EBITDA?
In the original 1977 film, Luke destroys this moon-sized Empire space station.
What is the Death Star?
This New York City firm, founded in the 1880s, is often credited as the first public adjusting firm in the country.
What is Goldstein Affiliates?
In 2019, HB 2103 expanded Texas’s “can’t act as a PA” rule from roofing contractors to these people.
Who are ALL contractors?
A common rule of thumb says a healthy business keeps 3 to 6 months of these on hand.
What are operating expenses (cash reserves)?
This bounty hunter takes Han Solo, frozen in carbonite, to Jabba the Hutt.
Who is Boba Fett?
NAPIA’s code of ethics has been written into numerous state PA licensing laws through this document.
What is the NAPIA Model Bill?