BUILDING LOSS ASSESSMENT

Room by Room”, or “Area Defined”, Detail or Description of Damage, coding same in a clear uniform depiction and/or listing of specific Building Loss or Damage, “Item by Item”, representing the “Scope of Damage”. The above correlating with detailed specific Measurement of the Area of Damage, representing “Loss Quantity”, within the same reporting. This reporting also inclusive of “Up To Date”, accurate “Loss Valuation”, (in the form of “Pricing”, inclusive of “Unit Cost Pricing” i.e. “Repair Cost Valuation”, which combines: Labor, Material and Equipment, to Replace Damage Building Property). The above, also inclusive of Costs associated with Demolition and Debris Removal, also inclusive of “Soft Costs”, (Sales Tax, Shipping, Freight, Contractor Overhead and Profit, etc.), and is specific by State and Region.

In summary the above reporting represents our “Building Damage Appraisal”, which encompasses the “Building Loss”. This reporting is combined with various other Supporting Documentation, inclusive of but not limited to: Photographs, Drawings, Diagrams, Inspection Reporting, etc. Same represents our “Building Claim”, to be filed under Coverage A. Building and then professionally negotiated by PLC, our respective staff and affiliates, ensuring our Client’s “Maximum Insurance Recovery”.

*** REPLACEMENT COST (RCV) LESS DEPRECIATION = ACTUAL CASH VALUE (ACV)

*** Our Loss Assessment Experts will calculate and assist our Loss Consultants in Negotiation of Depreciation Amounts, so as to increase ACV Settlements.

*** In addition our Loss Consultants will also assist you in preparation and filing of RCV Claims, for withheld Depreciation (if Coverage is applicable under Your respective Policy).

*** Co-Insurance (Value, Subject to Co-Insurance Percentage must be Equal or Greater than Coverage Limit), or “Loss Payment” will be subject to Co-Insurance Penalty, (If Limits are Lower than Value, Less Co-Insurance Percent), better Defined as Underinsurance. Our Loss Assessment Experts, will assist our Loss Consultants in Valuing Property, so as to confirm accurate Valuations, and support our Loss Consultants in Negotiating Valuations.

UNDERSTANDING THE PROCESS:

WHY A CONTRACTOR’S ESTIMATE IS NOT ENOUGH

Initially it starts with our expert’s initial inspection of risk, which produces a scope of damage and/or scope of repair. In addition to the scope, our experts also complete interior and exterior Diagrams/ Blueprints of the building depicting accurate measurements of floors, walls, ceilings and roofs. Finally our experts then complete a photo analysis depicting the specific damages addressed in the scope of repair as documentation to support allowance. These details are then drafted in appraisal form utilizing state of the art computer software systems. The final product will include a room by room, detailed itemized scope and value of repair inclusive all cost for your state and local, including but not limited to Debris Removal, Permit Fees, Architectural Fees, State Tax and Overhead & Profit calculations.

The idea that you will provide a local contractors estimate to your insurance company as documentation to support repair cost rather than engaging a professional public adjuster and their experts to prepare and document your claim on your behalf, consistently does not work to your advantage and will more than likely result in additional delays and reduction of your maximum insurance recovery.

Most contractors are not insurance restoration experts. They may not be knowledgeable as to how to restore specific damage related to water, heat, smoke and others. In addition they may not be aware of “Hidden” damages that need to be treated or restored utilizing special, specific methods of restoration. Their proposals will lack the detail and documentation necessary to substantiate your loss to your insurance company.

They will also prepare their proposals on the basis of competitiveness in effort to win over the job rather than the maximum amount recoverable for the repair. They will not be able to assist you with other facets of your building loss such as calculations of: Depreciation, Co-Insurance, Broad Evidence, Etc. or assist you with your other loss exposures Personal Property, Additional Living Expense, Business Income Loss, Extra Expense, Etc.