In the coming weeks, HOVER is teaming up with Verisk’s Xactimate to streamline the claims resolution process, allowing carriers and restoration contractors to quickly estimate repair costs. This new integration will expedite the entire insurance claim and repair process to help policyholders get back to normal as quickly as possible.
Xactimate is the leading and most trusted insurance claims estimating software in the insurance repair industry. Read on to learn more about how it works.
Xactimate is a powerful estimation tool used to create, send and receive construction estimates that can run on Windows, iOS, and Android computers and devices. It is primarily used for estimating restoration and repairs, insurance claims, and new construction. Some of the benefits of Xactimate include the way the program:
Xactimate uses sketch data to create estimates and reports based on pricing tools and other data tables. Users can upload photos and GPS coordinates, and data can be saved on the cloud to be accessed across various device platforms. Xactimate uses comprehensive surveys to analyze material, labor, and equipment costs, calculating average prices to produce a cost estimate. It also collects data from countless material suppliers and millions of actual estimates. Additionally, it integrates other third-party data, such as taxes and worker’s compensation, into the final estimate.
Usually, the estimate is divided into sections, each representing a part or component of the property. The scope of work or repairs is listed below. For example, the component may be the roof, and the lines below might detail shingle removal and shingle replacement. The next column provides the amounts, usually in square feet or linear feet, and in the following column the total cost. If it is an insurance claim job, there will be at least two additional columns: the depreciation and the actual value after subtracting the depreciation. At the bottom, you will find a summary of the totals, as well as any other costs included, such as contractor fees and taxes.
To estimate a roof, a contractor or insurance claim estimator will follow a series of steps using Xactimate.
Xactimate is the industry’s most comprehensive tool for property claims estimation. It’s the leading choice for insurance claims agents and restoration professionals alike. Xactimate puts together an insurance estimate in four easy steps:
Professionals in various fields can benefit from the simplicity and flexibility of Xactimate:
Customers will be able to understand your estimates easily, avoiding confusion and improving communication. Available modules, checklists, cross-platform access, and many other flexible features make Xactimate the choice of many professionals. If you’re unsure, there are many training programs available that teach you how to use the program to write an estimate.
HOVER creates interactive 3D models that can be used for measuring, designing, and estimating. In the coming weeks, HOVER’s highly detailed structured 3D data and measurements will automatically import into Xactimate, reducing the need for manual file upload and data entry. Insurers and home improvement professionals will be able to quickly estimate repair costs. Additionally, adjusters will be able to resolve claims remotely when the policyholder is given direct access to HOVER to capture the loss site.