Replacement cost versus newly-built homes

by Admin | Sep 19, 2017 | Insurance, Residential

  We recently wrote about the difference between a home’s replacement cost¹ and its market value² in the An apple, an orange and a flea market article. Now we would like to discuss the replacement cost for newly-built homes. Is their replacement cost...

An apple, an orange and a flea market

by Admin | Sep 11, 2017 | Insurance, Residential

Or why market value and replacement cost value are not the same! Recently we heard from one of our customers that a homeowner expected their replacement cost to be about $200,000 lower than our estimator determined. At first, we were puzzled because the difference...

Framing lumber availability decreasing

by Admin | Aug 9, 2017 | Residential

According to a recent survey by the National Association of Home Builders (NAHB) an increasing number of builders reported shortages of framing lumber. NAHB reports that 21% of single family builders reported a shortage of framing lumber. Only 7% of builders reported...

Hail loss claims have increased

by Admin | Aug 3, 2017 | Commercial, Natural Disasters, Residential

Dorothy had her concerns about lions, tigers and bears—and rightfully so. However, many carriers and agents would be happy with only three concerns, instead of with hail storms, flooding, wild fires, tornados, hurricanes, structure fires and water damage, lightning...

Construction material and labor costs still rising

by Admin | Jun 6, 2017 | Commercial, General Information, Residential

As we’ve mentioned in the past, scarcity of labor in the construction industry over the last several years has been an impediment for some builders, increasing costs and slowing their ability to scale up. Many skilled workers left the industry when jobs vanished after...

Underinsurance Solution: Pronto [Video]

by Admin | Apr 6, 2017 | Natural Disasters, Residential

Too many homeowners report underinsurance. Why? Part of the issue could be outdated valuation methods. That could mean higher out-of-pocket costs for clients, claim delays, carriers’ mispriced books and unhappy clients. Regardless of the claim, underinsurance matters....