Damage Assessments
Once a large loss has occurred, limits on the insurance policy may not be sufficient and co-insurance may come into play. Therefore when a building, be it agriculture, commercial, industrial, institutional, or residential is damaged to this magnitude, conserving every penny spent on the loss is crucial. The most cost effective method of determining value is a Damage Assessment Report. Scopes of damage and estimates by restoration firms are really redundant and are not cost effective.
Since every loss is not a total loss, the Assessment of Restoration should reflect costs for cutting and patching to existing construction; dust protection; material handling & storage; protection of existing finishes; shift work requirements; temporary shoring & bracing; equipment usage curtailment; and work inside secure premises, where applicable. All of these conditions are associated with retrofitting replacement material for partial losses.
This report will include:
- a description of the construction of the property
- a footprint of the building
- extent of damage
- scope of damage for repairs
- assessment of restoration, and
- a general time frame for reconstruction
The Damage Assessment Report provides an Extent of Damage, Scope of Damage and a Damage Assessment for both Replacement Cost Values (RCV) and Actual Cash Value Values (ACV).
FEES
The following packaged fee structure is based upon a damaged assessment survey and report after a loss has occurred. Damage to the building must be intact, sufficient enough to visually inspect current features, finishes, and conditions of risk.
The square footage shown below applies to damaged area only in the building.
