Overhead and Profit

  • OREM, UT, May 2011 – For individual trades, Overhead is any additional expense not charged (attributed) directly  to the work being performed. Overhead is typically classified as an indirect cost. Profit is formally defined as “the excess of the selling price of goods over cost.”* Profit is typically added to the cost of a construction-related job to allow the entity performing the work to grow their company through reinvestment. Xactware Solutions, Inc., an industry leader in providing estimating software, services, and building cost data since 1986, has recognized three categories of overhead. While ultimately, the amount of overhead and profit, as well as how and where it is accounted for within the estimate is left to the discretion of the estimator based upon the conditions of the job and the service provider performing the work, the information listed below should provide general guidelines into how Xactware’s published pricing is created and intended to be used.
    When Xactware performs market research on unit prices, those surveyed are specifically asked to not include expenses that would be included in the General Overhead and Profit markup percentages (item #1 below).

    „. General Overhead are expenses incurred by a General Contractor, that cannot be attributed to individual projects, and include any and all expenses necessary for the General Contractor to operate their business. Examples (including but not limited to): General and Administrative (G&A) expenses, office rent, utilities, office supplies, salaries for office personnel, depreciation on office equipment, licenses, and advertising. Including General Overhead expenses in an Xactimate estimate–General Overhead expenses are not included in Xactware’s unit pricing, but are typically added to the estimate as a percentage of the total bid along with the appropriate profit margin. These two costs together constitute what is normally referred to in the insurance restoration industry as General Contractor’s O&P, or just O&P. General Overhead and Profit percentages can be added in the Estimate Parameters window within an Xactimate estimate.

    „. Job-Related Overhead are expenses that can be attributed to a project, but cannot be attributed to a specific task and include any and all necessary expenses to complete the project other than direct materials and labor. Examples (including but not limited to): Project managers, onsite portable offices and restroom facilities, temporary power and fencing, security if needed, etc. Including Job-Related Overhead expenses in an Xactimate estimate–Job Related Overhead expenses should be added as separate line items to the Xactimate estimate. This is done within the Line Item Entry window of an Xactimate estimate by selecting the proper price list items, or creating your own miscellaneous items.

    „. Job-Personnel Overhead represents the non-wage related expenses incurred by a General Contractor that are associated to having their own employees perform the work, or the total G&A expenses incurred by a professional Sub-Contractor when using their services. Examples: Vehicle costs, uniforms, mobile phones, depreciation on hand-tools owned by the company, etc. Job-Personnel Overhead also includes the portion of General and Administrative expenses and profit that correlate to employees performing billable tasks, and that are not included in the General Contractor O&P mark-up. These expenses will be incurred either by the general contractor using employees or by a sub-contractor, depending on who is actually performing the work. If the work is being sub-contracted, then these expenses are commonly called Sub-Contractor Overhead and Profit. Including Job Personnel Overhead/Sub-Contractor O&P in an Xactimate estimate–Job Personnel Overhead (or Sub-Contractor O&P) expenses are included in the Labor Overhead portion of each unit price in the Xactware price list. The Labor Overhead, along with expenses for Labor Burden and Worker Wage (wage paid to the individual) make up the Retail Labor Rate. For more information on Retail Labor Rates, see the white-paper in the “Helpful Downloads” section of Xactware’s eService Center at: http://eservice.xactware.com/apps/esc/retail_labor1.jsp.

    Updating the Labor Overhead portion of the Retail Labor Rate is done from the Component List of an Xactimate estimate. Once within the Component List, select the option to view Retail Labor Rate components. This list allows you to view and modify all Retail Labor Rates used within the estimate. Price changes to a Retail Labor Rate here will affect prices in all items in the estimate that use this Retail Labor Rate. Xactware, Inc. publishes and makes unit price data available to all customers each quarter, based off market surveys. Every effort has been made to ensure that Xactware’s users can access, view, and modify all detail within the published unit prices. The building cost data published by Xactware is not designed to be inclusive of sales tax, General O&P, or Job-Related O&P within the unit prices. These can be specified and added at print time after all line items have been listed. However, Xactware has designed flexibility into the system so this is not mandatory. Xactware’s users have the option to add these costs to their line items as they choose. The Xactimate system is designed to provide full detail on all costs that are incurred.1

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    Claim Info

    The Claim Info page is where you enter all administrative information regarding the estimate. You can see this window by clicking the Claim Info tab from anywhere within the estimate.

    The pages within Claim Info are Insured InfoCoverage/LossParametersLoss RecapClaim Reports, and Activity Report.










    Edit Type of Loss Information window 

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    The Edit Type of Loss Information window allows you to edit a type of loss in the Type of Loss SmartList. To see this window, highlight the type of loss you want to modify in the Type of Loss SmartList and click Edit.

    Make any necessary modifications to the type, then click OK to return to the Type of Loss SmartList.







    Roof Damage

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    Roof Damage allows you to specify the type of repair needed to a roof that was damaged due to an Earthquake, Fire, Hail, Hurricane, Lightning, Tornado or Wind. When one of these Types of Loss is selected, the Roof Damage drop down list becomes visible where you will be able to specify the type of repair (i.e. Partial Repair/Replacement or Total Replacement).

    To select the type of roof damage repair,

    1. Go to Claim Info >Coverage/Loss

    2. Under the Loss Information section, select Type of Loss

      Note: In order for the Roof Damage option to be visible, the Type of Loss should be one of the following: EarthquakeFireHailHurricaneLightningTornado, or Wind.

      You should notice that Roof Damage is now visible to the right of the Type of Loss option.



    3. Select the drop down arrow from the Roof Damage field and select from Partial Repair/Replacement or Total Replacement.



      Note: Estimates with an RFG line items will not be marked as Complete if <NONE> is selected in the Roof Damage field.






    Apply Deductible defaults

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    You can choose one of two options in the Apply Deductible area of the Coverage/Loss window: Coverage Specific and Across all Coverage. To see the Coverage/Loss window, click the Claim Info tab in the estimate, then click the Coverage/Loss tab.

    • Coverage Specific: Allows you to enter a deductible for each coverage. The deductible entered only applies to that coverage.

    • Across all Coverages: Only the first deductible will be used in the estimateXactimate will apply the deductible in the manner most beneficial to the insured by applying it where they’ve exceeded limits.  If no limits have been exceeded, then Xactimateapplies it to the other coverages in order.






    Add or Edit Coverage Info window 

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    The Add/Edit Coverage Info windows allow you to create or modify coverages in the Coverage SmartList. To see these windows, click Add from the Coverage SmartList, or highlight the coverage you want to modify and click Edit.







    Parameters window

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    The Parameters window allows you to enter information regarding your price list and line items, and other cost information, such as O&P, permits, and depreciation. You can see this window from within an estimate by clicking the Claim Info tab, then clicking Parameters. You can set defaults for many of these fields from the Preferences Default window.

    Pricing

    In the Pricing section, check to make sure the correct price list is selected (to select a different price list, click the Price List SmartListbutton and select the price list you want), as well as the correct checkpoint price list (if you use one). Select a tax jurisdiction for state, provincial, or local taxes. Click the SmartList buttons to select a price list filter if you are using filters; otherwise, keep None selected.

    In the Activity section, the Use price list defaults radio button has already been selected (unless it has been changed in Preferences). If you want to change the default (suggested) activity, click the Select radio button and choose a new activity. Click the correct Repaired By (Default) radio button to select the individual who is doing most of the repair work. Then click the Labor Efficiency drop-down button to select either Restoration/Service/Remodel or New Construction as the labor efficiency.

    Add Ons

    The Add Ons section lets you enter a percent for both overhead and profit. Click the Cumulative O&P checkbox if you would like profit to be calculated on the overhead.

    Fill in the Salvage Retention and Advance Payments information as needed, and click the Include Advanced Payment checkbox if you want advanced payments to be displayed on the General Loss report.Enter your depreciation options: your default depreciation, whether to depreciate removal, materials, or O&P, and maximum depreciation percentage (which works for all depreciation types, not just Depreciation by %). You can also click the Show Tags checkbox if you want to use tags in your estimate. Click the appropriate button if you want to view or change Labor BurdensSales Taxes, or fees and permits and other charges.

    Click the Distribute Market Conditions checkbox if you want any price changes to be distributed across all components and not marked as “market conditions.” Click the Preserve Item Description when Replacing checkbox if you want to keep the original item description when modifying the description of a line item (the original description will be attached to the line item as a note).

    Report Text

    In the Report Text section, select a company header by clicking on the SmartList button and choosing a company header from the Company Header SmartList.

    Enter your opening statement in the field provided by clicking Edit and typing the text of the statement (then clicking Save and Closefrom the File menu) or clicking the Model button to select a pre-created model opening statement. You can enter a closing statement the same way in the Closing Statement area.







    Checkpoint Price List

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    For information on checkpoint price lists, click here.







    Price List Filter Editor

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    The Price List Filter Editor allows you to create and/or edit a price list filter, which you can then use to filter out price list items that you don’t want to see when scoping your estimates. You can see this editor by clicking Add or Edit from the Price List Filter SmartList.

    You can use the same filter to scope the entire estimate, or you can switch between filters while scoping different parts of the estimate.

    See also:
    To filter an estimate‘s price list
    To filter all price lists







    Default Activity

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    Default settings are those entries that are automatically filled-in, but that can be changed by the user.

    You can specify the default activity in the Pricing area of any estimate‘s Parameters window (under the Claim Info tab). This setting determines the activity (action) that is associated with the line items you specify. For example, the price list default for a drywall item is Remove and Replace, but you can set the default for all line items to be Replace and this will over-ride the drywall default.

    You can either choose to use the price list defaults or set your own. You can choose from Remove (-), Replace (+), Remove and Replace (&), Install Only (I), Material Only (M), or Detach and Reset (R).

    While this setting specifies the default activity, you can change the activity used for any line item as you enter it in SketchSummary, or Estimate Items.







    Overhead and Profit 

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    Overhead and Profit settings can be entered for the current estimate in the Add-ons area of the Parameters window. These can also be accessed from the Parameters page of the Valuations module.

    To set your Overhead and Profit amounts for this estimate, enter the desired percentages in their respective fields. For example, if you want 10% overhead and 10% profit, type 10 in the Overhead field and 10 in the Profit field.

    Mark Cumulative O&P if you want Xactimate to calculate O&P as cumulative. Cumulative O&P means that when you print the estimateXactimate will first calculate the Overhead percent based on the estimate total. Profit will be calculated using the estimatetotal plus overhead.

    To activate or de-activate the Tax O&P default setting (whether O&P is taxed or whether O&P is calculated after taxes), go to the Sales Taxes window in the Price List module.







    General Contractor and Subcontractor Overhead and Profit

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    When Xactware surveys prices from contractors in the field, the unit prices the contractors provide are intended to be inclusive of costs and fees associated with performing the task, but exclude any general overhead and profit percentage.

    While most often what is referred to as overhead and profit (O&P) is general overhead and profit paid to the general contractor, there is an additional category of O&P that is often not mentioned: this is the O&P required by the subcontractor who performs the work.

    The unit prices published by Xactware should include the general contractor’s cost to either perform the work with in-house employees or to hire a subcontractor.

    Because subcontractors incur their own overhead and also desire a profit, it can be reasonably assumed that the unit prices published by Xactware include the subcontractor’s O&P, but do not include the general contractor’s O&P.

    Summary:

    • When used, general overhead and profit is most commonly added to the end of the estimate as a percentage of the total job; therefore, the general overhead and profit percentage is not included within the unit prices published by Xactware.
    • Subcontractor’s O&P is intended to be included within the unit prices.

    Note: This information only relates to pricing information published by Xactware. Xactimate is completely flexible and allows you to structure price lists or items that you create in any manner you deem appropriate. The decision to use general O&P—and the percentages applied—are the responsibility of those directly involved in the estimating process; Xactware does not provide direction regarding when general O&P should be used or the percentages to apply.







    Salvage Retention window 

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    The Salvage Retention window is where you select one of the two methods for calculating salvage. Click the Salvage Retention/Restored Material button from within the Claim Info Parameters window and choose the setting you want for the estimate.

    • Lump Sum: When you select this option, the amount field becomes editable so that you can enter the estimate total of salvage retention for the estimate. When Lump Sum has been selected, you will not be able to see the salvage link on the Line Item Entry pad in Estimate Items.

    • Line Items Sum: When you select this option, the salvage link on the Line Item Entry pad becomes editable. The dollar field next to the Salvage Retention field becomes read-only and displays the sum total of salvage from all line items where the salvage type equals “Insured.”

    Click OK when you’re finished with this window.

    Xactimate uses the salvage retention amount on the Parameters window (regardless of which option is used) as the amount that is subtracted on the estimate reports. It also uses this total as the amount that is subtracted from the ACV payment in the Payment Tracker.







    Estimate Sales Taxes window 

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    The Estimate Sales Taxes window displays the details of the sales tax being calculated. You can see this window by clicking the Sales Taxes button from the Parameters tab of the Claim Info window in an estimate.

    You can use this window to add or edit a sales tax.

    • The Type field allows you to enter a description of this particular tax. If you are entering multiple taxes, each type must have a unique name.

    • Use the Rate field to enter the per cent to be used in calculating this tax.

    • The base (usually a variable) goes in the Base field. If the tax is to be calculated on the total amount of the estimate, t ype TOTAL in this field. Otherwise, click the Calculator button, then the Functions button to view the available variables.

    • Click the Tax Type drop-down button to select whether to apply this tax to Overhead & Profit, to calculate Overhead & Profiton the amount of the tax, or neither.

    • Type a name in the Result field if the result of this tax calculation will be used as a variable in calculating another tax belonging to this jurisdiction. Leave this field blank otherwise.

    • Click the Exceptions button to see the Exceptions window, where you can select whether you want this tax to be applied to all items, or only to the items in Exception list and under which circumstances.

    • After you’ve added all your taxes, you can change the sequence in which they are calculated by clicking the Move Up and Move Down buttons near the top of the window. This is important only when a tax calculation is based on another tax. When this is the case, the tax being used in the calculation needs to come earlier in the sequence. (This field also dictates the order the taxes will be printed on reports.)

    You can click OK to apply the changes in this window.

    Note: The tax information contained in the price lists is believed to be accurate at the time the price list was created. This information is provided for use as a template to be modified as needed for your specific geographic area(s). You are responsible for verifying that the rates used in any estimate are current and accurate. Since this information can change at any time, you will want to verify it on a regular basis.

    See also
    To add a sales tax
    Calculator Functions for Sales Taxes







    Calculator Functions for Sales Taxes

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    Sales taxes can be straightforward, as in the case of a flat per cent applied to all sales, or they can be more complicated, for example, when one rate applies to materials and a different one to labor, or when a particular category is singled out for a higher or lower rate.

    The functions in Xactimate‘s Calculator are designed to help you describe whatever combination of sales taxes may exist in your area. They can be used from the Estimate Sales Taxes window in the Base field by clicking on the Calculator button, then clicking the Functions button.

    The following is a list of the available functions:

    • LABOR refers to the total amount of all Labor items in the estimate.
    • MATERIAL refers to the total amount of all Materials items in the estimate.
    • EQUIPMENT refers to the total amount of all Equipment items in the estimate.
    • TOTAL refers to the total amount of the estimate.
    • OVERHEAD refers to the total amount of all overhead for the estimate.
    • PROFIT refers to the total amount of all profit for the estimate.

    You can also use these functions in combination: LABOR + MATERIAL, for example.







    Additional Charges Window

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    The Additional Charges window allows you to customize fees or charges, based on your own needs. Charges can be based on a percentage of a line item, a percentage of a coverage, as a flat fee, or as a person-per-day fee. You can see the Additional Chargeswindow by clicking the Additional Charges button on the Parameters window.

    You must first type a definition for your fee type (this definition appears on your invoice report when you print it), then select the calculation typeYou can choose from the following options:

    • Flat fee: This is a specific amount. If this option is chosen, the Amount/Rate column displays a dollar sign and the Items Listcolumn is disabled.

    • % of Coverage: If you choose this option, the percentage entered is calculated based on the per cent of the estimate.

    • % of Item(s): If you select this option, the percentage entered is calculated based on the sum of the line item or items you indicate in the Items List. If you choose this option, the Amount/Rate column contains a per cent sign.

    • Person/Day: When you use this option, Xactimate calculates a fee using the following formula:
      The dollar value in the Amount/Rate field * (total of unique line items that are in the Items List).
      Example: Items = labor items, there are 22 labour lines, and the amount is $2.00, the total would be $44.00.

    • Labour Hours: This option adds the designated amount per labour hour listed in the estimate. Example: there are two hours of electrician and two hours of carpet installer, and  the rate indicated is $1.00/labor hour. The total added would be $4.00.

    The next few fields may differ, depending on your profile and the calculation type you selected. The Amount/Rate field is where you can type either a percentage or a dollar amount (determined by Type column). Select your coverage, if necessary. The Items List field determines the group of line items that the fee is calculated on (if you choose % of Coverage or Flat Fee as the type, this field is disabled). Click the drop-down buttons to indicate how you want this item taxed and whether or not you wan O&P applied. Enter a maximum amount of the fee if it is not a flat rate (only some profiles will see this Max field).

    You can add notes and additional fees, then click OK when you’ve finished with this window.







    Loss Recap window

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    The Loss Recap window is designed to summarize the losses related to this claim. You can see this window by clicking the Loss Recap tab from the Claim Info page in an estimate.

    This window is set up similar to a spreadsheet; your coverages are listed in rows on the left, and categories of loss are listed for your columns at the top.

    The following definitions may help you:

    • Replacement Cost Loss: The amount of loss based on the cost of replacing the item or structure.

    • Recoverable Depreciation: deduction for property betterment (improvement) not covered in the insurance policy or for depreciation.

    • Non Recoverable Depreciation: amount of depreciation that will be permanently deducted from the amount the insured receives for the loss.

    • ACV: Actual Cash Value: equals the replacement cost less applicable depreciation.

    • Insurance Carried/Required: ratio of insurance coverage to the value of the property insured.

    • RCV Replacement Cost Value: is the cost to replace a particular item or building based on current prices.

    • UPP Unscheduled Personal Property: (contents) includes furniture, some appliances, clothing, kitchen utensils, and other household goods of almost every description. However, there are specific categories with limited coverage such as jewelry, furs, silver and money that must be insured separately.

    If you change your Xactimate estimate that is linked to this file, click the Auto Update From Estimate checkbox to keep the information on this window updated.







    Insurance Carried/Required

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    Insurance Carried/Required is a ratio of insurance coverage to the value of the property insured. This field on the Loss Recap report, defaults to 1, which is correct unless the property is under-insured. This factor is calculated by dividing the insurance carried by the insurance required.

    For example, if an insurance policy requires 80% insurance to value (coinsurance) and, if a building were currently valued at $100,000, the Insurance Required for that building would be 80% of $100,000 or $80,000.

    If the Insurance Carried for the same building were only $60,000, you would calculate the Insurance Carried/Required ratio as follows: Insurance Carried ($60,000) ÷ Insurance Required ($80,000) = .75







    Claim Reports window 

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    The Claim Reports window contains two pages that display a list of claim reports you can view or print. You can see this window by clicking Claim Reports from the Claim Info page.

    By default,Xactimate displays the standard Claim Reports window when you click the Claim Reports tab, with some or all of the individual reports checked. To see the Flood Forms window, click the drop-down button on the Claim Reports tab and choose Flood Forms. By default, these forms are not checked.

    Place a checkmark next to each report that you want to view on both pages. You can now click the Claim Reports tab drop-down button to select and view each report.

    You can see the following reports from the standard Claim Reports window:







    Additional Living Expenses

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    There are three pages to this report: CircumstancesExpenses, and Expenses Cont.

    Click the Circumstances tab to view insured information and enter the temporary address, the type of residence, the projected time it will take to restore the dwelling for occupancy and the replacement cost of the dwelling or unit that was damaged.

    Click the Expenses and Expenses Cont. tabs to log and track additional living expenses as they occur.

    You can see this report from within an estimate by clicking the Claim Info tab, then clicking the Claim Reports tab. Place a checkmark next to Additional Living Expenses. Click Next to open the report (and any other reports selected).







    Agreed Appraisal Report

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    There are two pages to this report:  Appraisal and Comments.

    The Appraisal page allows you to enter administrative information and number/describe any photographs included with the report.  You can also enter information such as the cause of loss, what still needs to be done, and when the next report is due.

    Click the Comments tab to enter any notes about the appraisal.

    You can see this report in the estimate by clicking the Claim Info tab, then clicking the Claim Reports tab. Place a checkmark next to Agreed Appraisal Report. Click Next to open the report (and any other reports selected).







    Billing Sheet

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    There are three pages to this report: ServicesExpenses, and Taxes and Totals.

    Click the Services tab to select which system you will use to bill for your services on this claim: Time and Expenses, Flat Rate or Percent of Loss.

    Click the Expenses tab to track total travel, photos, telephone and other expenses.

    Click the Taxes and Totals tab to track state and local tax expenses incurred.

    You can see this report from within an estimate by clicking the Claim Info tab, then clicking the Claim Reports tab. Place a checkmark next to Billing Sheet . Click Next to open the report (and any other reports selected).







    General Loss Report

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    There are three pages to the General Loss report: Admin/Coverage, Remarks, and Recommendations. You can see this report by choosing General Loss report from the Claim Reports tab drop-down button.

    Click the Admin/Coverage tab to create a report number, check the catastrophe number, policy numberclaim number, file number and type of loss. Some of the information that appears in Administrative section of this report has already been entered in the Insured Info window. You can also enter coverage information for this claim on this page.

    In the Enclosures section, you can add the names of any additional documents that will be included with this claim.

    Click the Coverage tab to add or view any notes for this claim.

    Click the Recommendations tab to calculate a net claim and recommend payment.







    Insured Correspondence

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    In this report, you can enter any administrative information you need in the text box.  The buttons at the top of the text box are standard formatting tools, such as Bold, Italics, Underline, Cut, Paste, Spell Check, etc.

    You can see this report from within an estimate by clicking the Claim Info tab, then clicking the Claim Reports tab. Place a checkmark next to Insured Correspondence. Click Next to open the report (and any other reports selected).







    Narrative Report

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    The Narrative Report is mainly used by CAT adjusters to record notes and information in a narrative format. You can see this report by choosing Narrative report from the Claim Reports tab drop-down button.

    There are four pages to this report:

    • Narrative Info
    • Estimated Loss
    • Narrative Sections
    • Additional Information






    Proof of Loss Report

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    There are four pages to this report: Risk InformationACVRC, and ICC.

    Click the Risk Information tab to view or edit policy term and coverage amounts, along with the cause of loss and when the loss occurred.

    Click the ACV tab to view or edit a summary of the cost of repair or replacement compared to the insured amount.

    Click the RC tab to view or edit the full replacement cost, cost of repair or replacement, depreciation, and actual cash value loss.

    Click the ICC tab to view or edit mitigation notes, replacement cost value, the full cost of compliance, and the amount paid. You can also add additional comments.

    You can see this report from within an estimate by clicking the Claim Info tab, then clicking the Claim Reports tab. Place a checkmark next to Proof of Loss Report. Click Next to open the report (and any other reports selected).











    Replacement Cost Report

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    The Replacement Cost report identifies the type of property and calculates the Actual Cash Value Claim by considering the full amount of insurance applicable to the property, the full replacement cost, the full cost of repair or replacement, depreciation, Actual Cash Value loss, deductibles, etc. You can see this report by choosing Replacement Cost report from the Claim Reports tab drop-down button.







    Flood Forms

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    The Flood Forms window displays a list of flood-related claim reports you can view or print. You can see this window by clicking Claim Reports drop-down button from the Claim Info page and choosing Flood Forms.

    Place a checkmark next to each report that you want to view. You can now click the Claim Reports tab drop-down button to select and view each report.

    You can choose the following reports from the Flood Forms page:







    Building Worksheet

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    There are two pages to this worksheet: Building Information, and Worksheet.

    On the Building Information page, you can view the insurance information for the home (this information is entered on the Claim Info Insurance Info page).

    In the Building Information section, information about the building type, dimensions, square feet, foundation, wall construction, number of rooms, number of stories, estimated replacement cost, and actual cash value can be entered.

    Click the Worksheet tab to add, edit or delete worksheet line items, including quantity, full repair cost, depreciation amount, flood loss and wind loss amounts.

    You can see this report from within an estimate by clicking the Claim Info tab, then clicking the drop-down button on the Claim Reports tab. Click Flood Forms. Place a checkmark next to Building Worksheet. Click Next to open the report (and any other reports selected).







    Cause of Loss

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    There are two pages to this report: Cause of Loss and Limiting Statutes and Investigations.

    On the Cause of Loss page, you can check a checkbox to identify the cause of loss, and then you can identify the party responsible for the loss.

    Click the Limiting Statutes and Investigations tab to enter information about limiting statutes and investigations regarding this loss.

    You can see this report from within an estimate by clicking the Claim Info tab, then clicking the drop-down button on the Claim Reports tab. Click Flood Forms. Place a checkmark next to Cause of Loss. Click Next to open the report (and any other reports selected).







    Contents Worksheet

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    On this worksheet, you can add, edit or delete contents items including description, quantity, age, replacement cost, loss amount, depreciation, flood loss and wind loss. You can also leave all of the fields empty and print a blank worksheet that the insured can fill out.

    Contents items include furniture, some appliances, clothing, kitchen utensils, and other household goods of almost every description. However, there are specific categories with limited coverage such as jewelry, furs, silver and money that must be insured separately. The total cost for each category of loss is listed below the contents.

    You can see this report from within an estimate by clicking the Claim Info tab, then clicking the drop-down button on the Claim Reports tab. Click Flood Forms. Place a checkmark next to Contents Worksheet. Click Next to open the report (and any other reports selected).







    Final Report

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    There are four pages to this report: Premises HistoryInterests and Excluded DamagesClaim Summary, and Building RCV and Enclosures.

    On the Premises History page, information about alterations to the facility and a history of prior losses can be entered.

    Click the Interests and Excluded Damages tab to provide information on the mortgagee(s), other insurance coverage, excluded damages, and certifications.

    Click the Claim Summary tab to summarize the losses by building or contents. The following definitions may be of assistance in completing this portion of the Final Report:

    • RCV—Replacement Cost Value is the cost to replace a particular item or building based on current prices.

    • ACVActual Cash Value equals the replacement cost less applicable depreciation.

    • Contents items include furniture, some appliances, clothing, kitchen utensils, and other household goods of almost every description. However, there are specific categories with limited coverage such as jewelry, furs, silver and money that must be insured separately.

    • Appurtenant (related) structures include a detached garage, storage shed, fence or swimming pool.

    Click the Building RCV and Enclosures tab to enter building replacement cost amounts and list documents that will be enclosed with this report.

    You can see this report from within an estimate by clicking the Claim Info tab, then clicking the drop-down button on the Claim Reports tab. Click Flood Forms. Place a checkmark next to Final Report. Click Next to open the report (and any other reports selected).







    ICC Adjuster Report

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    There are two pages to this report: Insured/ICC Info and Repetitive Loss Info.

    Click the Insured/ICC Info tab to view information about the insured, including name, property address, insurance carrier, and coverage. You can also enter ICC information about structure compliance, the local official, mitigation options, and the basis of the valuation.

    Click the Repetitive Loss Info tab to enter information on prior claims.

    You can see this report from within an estimate by clicking the Claim Info tab, then clicking the drop-down button on the Claim Reports tab. Click Flood Forms. Place a checkmark next to ICC Adjuster Report. Click Next to open the report (and any other reports selected).







    Mobile Home Worksheet

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    On this worksheet, you can view or enter information on a claim for a mobile home. This worksheet includes information about the mobile home , what the initial cost was, and repair amounts. You can also enter information on dealer appraisals and other insurance coverage.

    You can see this report from within an estimate by clicking the Claim Info tab, then clicking the drop-down button on the Claim Reports tab. Click Flood Forms. Place a checkmark next to Mobile Home Worksheet. Click Next to open the report (and any other reports selected).







    Notice of Loss

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    There are two pages to this report: Agency and Loss and Coverage and Notifications.

    On the Agency and Loss page, enter information about the servicing agency and loss information, such as date of loss, kind of loss, probable loss amount, other insurance and location of property, if moved from the site.

    Note: Some of the information displayed in this window appears in grayed-out sections because that information has been entered on other windows. Name of the Insured, property address, date of loss information is entered or edited on the Claim Info Insured Infopage. The policy period is entered on the Claim Info Coverage/Loss window.

    Click the Coverage and Notifications tab to enter descriptions of building and contents coverages and identify interested parties that need to be notified. The Mortgagee and Loss Payee (Insured) names display in grayed-out fields because that information is entered on the Insured Info and Coverage/Loss windows.

    You can see this report from within an estimate by clicking the Claim Info tab, then clicking the drop-down button on the Claim Reports tab. Click Flood Forms. Place a checkmark next to Notice of Loss. Click Next to open the report (and any other reports selected).







    Preliminary Damage Assessment

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    In this report, you can make a list of different insured’s information, including property addresses, policy numbers, and probably repair costs.

    You can see this report from within an estimate by clicking the Claim Info tab, then clicking the drop-down button on the Claim Reports tab. Click Flood Forms. Place a checkmark next to Preliminary Damage Assessment. Click Next to open the report (and any other reports selected).







    Preliminary Report

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    There are five pages to this report: InsuranceFoundationBuilding/OccupancyExterior and Contents, and Origin.

    On the Insurance page, most of the insurance information should display the information you entered in the Claim Info Insured Infowindow. Insurance coverage verification data can be entered on this window.

    Click the Foundation tab to identify foundation types in the following sections: Piles, Piers, Walls and Other.

    Click the Building/Occupancy tab to provide building information such as type of building, occupancy, type of basement and building condition.

    Click the Exterior and Contents tab to describe exterior construction materials, exterior wall surface(s), and contents and water risk.

    Click the Origin tab to describe the origin of the flooding, time and water height and other reports and enclosures to be included with this report.

    You can see this report from within an estimate by clicking the Claim Info tab, then clicking the drop-down button on the Claim Reports tab. Click Flood Forms. Place a checkmark next to Preliminary Report. Click Next to open the report (and any other reports selected).







    Activity Report

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    The Activity Report window displays a list of activities (to-do items) that apply to the currently opened project. You can see the Activity Report by clicking the Activity Report tab from the project’s Claim Info window.

    An activity is any task you need to perform to complete a project. Examples are: estimating, scoping, follow-up visit to client, etc.

    To add an activity, click the New button and complete the fields that become active (filling out these fields is almost identical to filling out fields in the Add Activity window). You can also highlight an activity on the list and click the Edit button to make changes to an existing activity.

    Activities added in the Activity Report are added to the Activity Calendar.







    To change an estimate‘s default Activity setting

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    1. From within an estimate, click the Claim Info tab, then click Parameters.

    2. In the Activity (Default) area, click the Use price list defaults radio button to default to the most commonly used price list activities, such as & , Remove and Replace, for some price list items.

      OR

      Click the Select radio button and set the default activity to the activity you want to use for most items.






    To change an estimate‘s default Repaired By setting

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    1. From within an estimate, click the Claim Info tab, then click Parameters.

    2. In the Pricing area, select Contractor or Homeowner.

    The new default setting is accepted for future line items.







    To change the Labor Efficiencies setting 

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    1. From within an estimate, click the Claim Info tab, then click Parameters.

    2. In the Pricing area, click the Labor Efficiency drop-down button.

    3. Click one of the options that appear.

    Your new labor efficiency is saved.







    To customize a model statement for an estimate

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    You can often save time by using a model opening and/or closing statement as a template, rather than creating a new statement for each estimate.

    1. Click the Claim Info tab within an estimate, then click Parameters.

    2. In the Report Text area of the Parameters window, click the Select Model button (you can choose the button under Opening Statement or Closing Statement, depending on which you are creating).
      The Model Statement SmartList list appears.

    3. Highlight the statement you want to use as a template and click OK.
      The text of the template statement appears in the field provided.

    4. Click the Edit button.
      The Statement editor appears.

    5. Edit the text of your statement.

    6. When you’re finished, click File, then choose Exit, and answer Yes to save changes.

    See also:
    To create a model opening & closing statement







    To enter a permit amount

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    1. Click the Claim Info tab within an estimate, then click Parameters.

    2. In the Add Ons area, click the Additional Charges  button.
      The Additional Charges window appears.

    3. Enter a name for the permit.

    4. Select a calculation type for the permit.
      This can be based on estimate percentages, labor types, or a simple flat fee.

    5. Enter the amount (in dollars) or rate (percentage).

    6. Select the coverage type (if you selected Flat Fee or % of Coverage).

    7. Enter the items list (if you selected % of Item(s)) or choose the appropriate tag (if you selected Person/Day) in the Items List.

    8. Select how you want this permit to be taxed (if at all).

    9. Select whether or not you want to apply O&P to the permit.

    10. If you selected anything other than Flat Fee, enter a maximum permit cost in the Max field.
      Not all profiles will see this field.

    11. Add any additional charges to this permit by clicking Add Additional Charge and repeating steps 3-10.

    12. If you want to enter any notes about this permit, click the Fees Note button and type the text of the note, then click Save from the File menu, then click Exit from the File menu.

    13. Click OK to add this permit to the estimate.






    To filter an estimate’s price list

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    1. Click the Claim Info tab within an estimate, then click Parameters.

    2. In the Pricing area, click the Price List Filter SmartList button.
      The Price List Filter SmartList appears. If you have already created the filter you want to use, skip to step 7.

    3. Click Add.
      The Price List Filter Editor appears.

    4. Click the View drop-down button to choose to view the list by division or category.
      Xactimate modifies the window to fit the view you selected.

    5. Place a checkmark next to each category/division you want included in your estimate.
      You can include portions of a category/division by clicking the [+] next to each and placing a checkmark next to the portion you want to include. Click the [+] again to filter out actual line items.

    6. Type a name for this filter in the Filter Name field, then click OK to return to the Price List Filter SmartList.

    7. Highlight the filter you want to use for this estimate, then click OK.

    Price list items that you haven’t specifically selected for this estimate are filtered out.







    To re-order line item numbers

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    To re-order the line item numbers in an estimate,

    1. From the estimate you are re-ordering, click the Estimate Items tab.

    2. Order the rooms and line items so that they are ordered the way you want them to be numbered.
      You can do this by dragging line items around on the Line Item Entry area, and by dragging rooms around on the Groupingpane.

    3. Click the Tools menu, then click Resequence Line Numbers.
      Xactimate re-orders the line items, beginning with the line items at the top of the first room and continuing through the last line items at the bottom of the last room.






    To select a model statement for an estimate

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    1. Click the Claim Info tab within an estimate, then click Parameters.

    2. Click the Select Model button in the Report Text area at the bottom of the window.
      You can click the Model button under Opening Statement or Closing Statement, depending on which you are creating.
      The Model Statement SmartList appears.
       

    3. Select the model statement you want to use for this estimate and click OK.

    You can now customize the model statement or use it as-is.







    To select a new price list for your project

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    1. Click the Claim Info tab within an estimate, then click Parameters.

    2. In the Pricing area, click the Price List SmartList button
      The Price List SmartList appears.
    3. Highlight the desired price list and click OK.






    To view the labor burden taxes

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    1. Click the Claim Info tab within an estimate, then click Parameters.

    2. In the Add Ons area, click the Labor Burdens button.
      The Labor Burden Taxes List appears, along with the tax rates of the price list.

      You can view the tax rate, but you cannot change it here. You can change this tax from the Price List Editor.

    See also:
    To add a labor burden
    To delete a labor burden
    To edit a labor burden