In addition to handling property damage claims, we want to extend to your property adjusting staff another service they may benefit from:
Draft More Realistic Estimates: An Informal discussion with your Claims staff, including such as topics as:
Items that require consideration not listed on the Scope of Damage:
Based on many years of reviewing insurance adjusters’ estimates it is evident as to why the adjusters’ estimate is significantly lower than the insured’s presentation of the claim. We all know the PA’s claim is an exaggeration of the actual loss. I am referring to the insured’s contractor’s estimate. The public always perceives that the insurance company wants to “low ball” the claim. As we all know, this is certainly not the case. It just appears that way to the public because the adjusters’ estimate of the loss is a lot lower than what the insured’s contractor’s estimate is. This is not to suggest the insured’s contractor’s estimate is not on the high side, which we find can generally be the case in most claims. There are many reasons for this, such as code upgrades, improvements and betterment, all of which in most cases carriers are not responsible to consider.
Many of the insurance adjusters utilize an estimating system that can, if used properly, produce a competitive estimate. Estimating renovations is not a science; it is an art. In order to create an estimate that is reflective of the loss, the estimator must possess important skills in order to capture all that is necessary to create the estimate.
Some of the skills necessary include the following: Take off an accurate scope of damage; measuring everything, describing the damaged building material, noting the extent of damage, photographing the damage and noting each picture immediately after the picture is taken. This so called “Take off” is usually where the adjuster needs some professional advice and some guidance.
After the take off is completed it is now time to begin the process of entering it into the computer’s estimating system. Considerations for every renovation or restoration are things like permitting, planning, inspections, waste, difficulty factors, shoring, bracing, demolition and debris removal, preparation, material acquisition and delivery, etc. – none of which was included in the scope of damage. The estimator must be knowledgeable of these considerations and realize what needs to be factored in when creating the estimate.
Your property adjusters can create better and more reasonable estimates and guide them through the process of inspecting and taking off the scope and special considerations for the claim in question. As an additional service to taking on cases to prepare estimates of damage, we are offering your property claims staff or claims department an informal instruction service.