The amount actually incurred is not the amount spent by the contractor. It is the amount actually incurred by the insured. Otherwise, the wording of the loss settlement provision would only pay the contractor’s sub fees. No overhead or profit for the contractor and no payment for his/her time and efforts. It is obviously the amount incurred by the insured.
Steve wants a retail bid up front because there’s too many contractors out there undercharging. I estimate 1/4 roofing contractors across the country charge 15%-40% less than a basic xactimate.
A lot of roofer don't even know what a retail bid is not to mention what to include in it. Their "retail bids" are so low the insurance companies are probably laughing at these guys for not going to school to understand the purpose of business is not to go out of business.
Here in Milwaukee there's like three contractors who know what Xactimate even is, much less how to use it. Storms here are rare, but when they do occur, the carriers must save a shitload of money.
Paraphrase: "I don't want the Carriers to pay enough for the workers in this industry to take vacations." Who owns Miller Stadium in Milwaukee? Which companies have some of the fanciest and sexiest buildings in every metro across the USA? I've noticed it's the carriers that are the hardest to work with and pay the least. That's way beyond "Disneyland" territory if you ask me. But we're the bad guys for wanting to make 40-50% gross on our jobs...and God forbid I want to make enough to justify the 90 hour work weeks and take my toddler to Disneyland at the end of the year. SMH.
Look up any court case with SFR Services vs any Florida insurance company for examples of engineers and adjusters knowingly fraudulently denying and underpaying claims. There's internal texts proving it. I had to wait xx months for my money.
23:09 As a construction cost consultant I have to be able to backup my cost estimates. When I do an estimate I keep in mind that I am going to get deposed and / or cross examined on a stand in front of a judge. I cannot just makeup costs. My estimate won't hold up in court and I would loss credibility. The other side is going to have a cost estimate as well. If the opposing cost estimate is vastly different, they will never be the same, it is going to be a point of contention for the attorneys in their examinations of a witness. I have found that when I am deposed if the opposing attorney can't dispute my cost data the argument shifts to the scope of work. Did the property owner own a Ford and the scope of work in my estimate is a Ferrari? The owner's attorney, my client, at that point has other experts to backup the scope of work I present in my estimate.
As a construction cost consultant I act as an expert witness for attorneys from time to time. I can tell you as far as estimating software and cost data goes Xactimate is not good. There is better software and cost data sources out there. Great conversation and great video.
Xactimate itself says: 1. O&P is NOT included in Xactimate line items. It must be added on at the end. 2. Xactimate prices are the MEAN price for the area for the given reporting period. It’s not an absolute price for M&L.
How many homeowners are IICRC and HAAG certified? They wouldn t know if a claim is simple or not. That statement is asserted with confidence, and. Easily refuted by reference to industry standards. Nice try.
If an engineer was to be retained for the claim they should be hired independently, not by the carrier. Just the fact that they are being registered/paid as a vendor to the carrier there is a conflict of interest. Any good business wants to perform well for the client that hired them in order to scale their business… this must be considered
