In the event of a loss to property related to fire, natural disaster, broken pipes, accidents or acts of God, owners turn to insurance carriers to recoup the value of the property. Xactimate, used by adjusters and contractors nationwide, is a powerful estimating tool developed to price out every step of the claim process. This bulletin will briefly explain the three primary types of estimates: content manipulation, mitigation of the damage and structural repairs. Each category involves direct valuation of damaged property to be paid out by the insurer, thus it is beneficial to separate these three estimates.
Content Manipulation
Xactimate allows the “contents subcontractor” to price out every aspect of manipulating, moving, cleaning and storing contents. The contents subcontractor hired for this portion is often retained by the general contractor who will complete the structural repairs. However, if contents need to be manipulated as part of the emergency services mitigation, this service could be broken up. In the event that contents end up in separate places, it is important for the insured to document and remain in communication with their contractors to reduce unnecessary storage costs.
Mitigation
Emergency repairs are often considered the mitigation portion of a loss. Owners should vet and research reputable emergency service contractors prior to any loss as this step is crucial to successful safety and structural repairs.