When it comes to estimating repair costs for claims, a significant number of insurance companies have adopted Xactimate as their estimating software. State Farm, Allstate, Farmers, USAA, and many others have embraced Xactimate. Xactimate is a widely used estimating program known for its extensive line item database and comprehensive coverage of different aspects of insurance claims.
On the other hand, Liberty Mutual, Safeco, Erie, and other companies have opted for Symbility from Corelogic as their estimating software. Symbility is another widely used estimating program that offers comparable functionality to Xactimate and is specifically designed for detail oriented- deconstructive line item calculations.
According to the information from Assistimate, when converting an exterior storm damage estimate originally written in Symbility to Xactimate using the same or similar line items, the Xactimate estimate ends up totaling 15 to 20 percent more on average. This suggests that Xactimate tends to generate higher repair costs compared to Symbility.
It is not suprising that more insurance carriers have switched over to Symbility from Xactimate, possibly because of the lower pricing in Symbility estimates.
It's important to note that the pricing methodologies and algorithms used by Symbility and Xactimate may vary, and their databases of cost data and repair methods could have different sources or calculations. Without specific details on the pricing methodologies of both platforms, it is challenging to pinpoint the exact reasons for the cost difference. However, it's likely that variations in the way they handle labor rates, material costs, or profit margins could contribute to the disparity.
Here is things you can do if your insurance company is using Symbility and you have a ridiculously low repair cost.
Verify the estimate: Carefully review the estimates from both Symbility and Xactimate to ensure all necessary repairs and associated costs are included. Look for any missing items or discrepancies between the two estimates that could account for the cost difference.
Negotiate with the insurer: If you believe that the repair cost provided by Symbility is insufficient, you can engage in negotiations with the insurance company. Present your findings, provide evidence or documentation supporting your case, and explain why the cost should be higher based on your assessment. Negotiating with the insurer may help bridge the gap and obtain a higher repair cost.
Provide additional evidence: If you have any additional evidence, such as photographs, videos, or expert opinions, that support the need for a higher repair cost, present it to the insurance company. This evidence can help justify the increase in repair expenses and potentially convince them to adjust the estimate.
Seek professional assistance: If you are facing challenges in reconciling the repair cost difference between Symbility and Xactimate, you may consider consulting with a public adjuster or a professional estimator who is experienced in handling insurance claims. They can provide guidance, expertise, and representation to help you navigate the process and negotiate a fair repair cost.
Comentários