Benefits of Using an Xactimate Experienced GC
How RCI Uses Xactimate
Xactimate® is a computer software system for estimating construction costs that has become widely used by insurance companies in the last decade. It is best suited to tract homes or multi family property.
Xactimate estimates look impressive. They are organized, professional looking and lengthy. They are often inaccurate. A computer program cannot replace the knowledge of a local, experienced general contractor as to materials, time and labor costs associated with a job.
The best approach to getting a fair claim settlement is for property owners or their representative(s) to get an independent estimate for repairing or replacing damaged or destroyed property from a reputable licensed general contractor who is experienced with Xactimate, even if they do not use Xactimate to create their own estimates.
Most insurance companies rely on Xactimate. Insurance companies prefer it because it often gives lower estimates, saving insurance companies money when paying out claims to property owners. The pricing is based on a median survey that does not always reflect up-to-date market conditions, (i.e. after a catastrophic loss such as hurricanes Harvey, Irma, and Jose) when there is an increased cost in building materials.
Many contractors do not use Xactimate. RCI “levels the field” for the property owner, using Xactimate, along with experience, to provide fair, equitable estimates. Insurance companies often turn an Xactimate estimate into a settlement offer. This practice will leave the property owner with a settlement amount that will not cover the total cost of the project.
Why RCI Uses Xactimate
If your estimate cannot be compared “apples to apples” with an Xactimate format, you will have a hard time convincing an insurance company to pay what you are owed. A competent adjuster will supplement an Xactimate estimate with bids from sub-contactors. It may be important to explain why the costs are higher by pointing out the uniqueness of a building component. If you, your contractor, your licensed public adjuster, or your attorney are not familiar with Xactimate, you are at a disadvantage in negotiations/mediation with your insurer.
RCI provides expertise and leveraging power that property owners need to negotiate equitable, accurate settlements from insurance companies. RCI knows how to protect and strengthen property owner’s assets, and we know what it takes to convince the insurance companies to award the right settlement.
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