• Xactimate Pricing Guide

Contractors: if you don't know how much insurance companies pay for property repairs, you aren't generating the correct amount of income. Over 80% of insurance companies - including State Farm, Farmers, Allstate, USAA, Nationwide, MetLife, Liberty Mutual, Safeco, The Hartford, American Family, ASI, American Modern, QBE and many more - use the industry standard pricing software called Xactimate. Q) What is Xactimate? A) Xactimate is a third-party software made by Xactware, owned by Verisk.

Xactimate Demystified. Xactimate is computer software that estimates construction costs through “unit cost pricing”. Many insurance companies require their adjusters use it to calculate repair and rebuilding costs for damaged and destroyed buildings. Adjusters use Xactimate estimates as the basis for the settlement offers they make on claims.

Xactware conducts extensive market research and comes up with a price for almost every conceivable item in construction. This includes variables for labor, material, equipment, general site conditions and general contractor's overhead and profit. Xactimate has a separate pricelist for different markets. San Diego has a different pricelist than Los Angeles; Miami has a different pricelist than Orlando, and so on.

Xactimate Pricing Guide

Even more significant, Xactimate changes all pricelists once per month. Every month, the price to remove and replace one linear foot of fascia changes, for example. Sometimes it changes a little and sometimes it changes a LOT. This isn't always a great thing for contractors as sometimes it goes down. However, after a hail storm, hurricane, large flood or other natural disaster which affects an entire market, usually -generally speaking- the pricelist for that market will go up in the next monthly pricelist update. It could even take two months or longer for the software to reflect the true market data.

For example, look no further than the recent April 2016 massive hails storms in North Texas, which affected the Dallas Fort Worth market. Most professionals in the industry were fairly confident that the May 2016 pricelist would show an increase because of the direct market impact. It was afterall a multi-billion dollar event.

Contractors were reporting that their material suppliers and subcontractors were sending out letters notifying their customers of price increases across the board. Reports were coming in of the unavailability of roofers and gutter installers. However, in the May pricelist. Sure, it went up by a couple of dollars here and there but not enough to really impact most estimates as a whole. Some were rather disappointed but it seems they weren't alone. Later in May, the North Texas Roofing Contractors Association (NTRCA) sent out an email to its members alerting them to this issue, along with a proposed solution to attempt to resolve it. The NTRCA members were encouraged to send an email to Xactware to voice their displeasure, and to share any info (from suppliers, subcontractors, etc) with Xactware that could possibly contribute to a resolution.

In June: major difference! Most estimates in this market went up significantly. And the July and August updates also saw slight increases. Great job NTRCA and its members for following through! See the above video to see a specific example of a real claim in live action. We had written an Xactimate estimate for our contractor client for a hail damage claim in the DFW market.

Our estimate was already completed and we simply updated it from the May 2016 pricelist to the August 2016 pricelist. It resulted in over a $2,600.00 increase! What can your company do with an extra $2,600? The above described issue highlights the fact that it's imperative to have experts on your side to help you navigate the complex waters of insurance repair estimating. If you don't present your estimates in Xactimate, you're losing.

If you don't have Xactimate experts creating your Xactimate estimates, you're failing. The obvious solution is definitely to turn to the leader in Xactimate estimate writing & invoicing service in the United States and Canada: Visit us today to see what we can do for your business!

The June 2017 price list updates for more than 460 regions in the United States and Canada are now available for download. Pricing research for the June 2017 publication shows that average costs for labor and materials used in claims and remodeling increased slightly in both the United States and Canada when compared to May 2017. The most significant change was a 1.11 percent increase to the Common Material Only report.

These percent changes are based on the averages that have been reported since the May 2017 price list publication and from June 2016 to June 2017. The information reported here is based on a national average, and it is important to note that actual changes will vary within each individual pricing market.

It is also important to remember that Xactware’s published pricing information is based on recently completed surveys and estimate transactions. For more information about these trends over a longer period of time, read the or the. Local market conditions Xactware makes every effort to ensure pricing information contained in this update represents market costs at the time of publication.

Since actual market prices can vary and change rapidly, and since many factors can affect the cost of a project (including—but not limited to—labor, equipment, and material costs as well as the rates and application of sales tax), we strongly recommend customers monitor their local markets for any such changes and adjust their estimate pricing as deemed appropriate. Gasoline prices in the U.S. And Canada Since the May 2017 publication, gasoline prices decreased 2.04 percent in the United States and 3.61 percent in Canada.

When compared to June 2016, gasoline prices increased 4.3 percent in the United States and 7.44 percent in Canada. Because gasoline prices can change rapidly, Xactware recommends users monitor their local costs to determine whether repair or construction costs are affected. For further details, see the. Canada. May 22 Apr. 25 Gasoline National Average $2.399 $2.449 $1.148 $1.191. Canada prices are per liter XactContents pricing update Since the last price list update, the XactContents pricing team continued to improve the master item list in both the United States and Canada.

They added four new vendors: Aero Precision, Overland, Live Out There, and Unbeatable Sale. United States. Vendors 20 General Quote Items 6,089 Master Item List Items 6,385,129 Retired Items 180,126 Changes to the June price list Customers can view specific changes to the price lists by logging on to the. XactAnalysis customers can see specific changes by viewing the Price List Changes report in the section. This same report can be found in the Featured Highlights section of the eService Center. Pricing feedback Pricing feedback is one of the ways Xactware ensures that the reported cost information reflects actual market prices.

Users writing estimates outside program work can return feedback by regularly running the feedback utility within Xactimate, XactRemodel, or XactPRM. Visit our web page for more information about. Downloading a price list Xactware’s pricing database is the foundation for many of our products.

You can download a price list in and XactRemodel, or assign a price list in. For more information about managing price lists, click Help in any Xactware product.