What Is Xactimate?

Xactimate is a computer software system for estimating construction costs that has become widely used by insurance companies in the past decade. Insurance company adjusters use it to calculate building damage, repair and rebuilding costs. Adjusters use Xactimate to generate loss estimates and claim settlement offers. Chances are very great your claim was written on this software. State Farm, Allstate, Liberty Mutual, Safeco, USAA, all use this software.

Xactimate, the industry’s most powerful and comprehensive solution for property claims estimation, is the number one choice for restoration professionals thanks to its precision and flexibility throughout all stages of the repair process. It is primarily used for estimating restoration and repairs, insurance claims, and new construction. Some of the benefits of Xactimate include the way the program:

• Access tools for measuring, scoping, and documenting a loss
• Create precise, detailed, and professional-looking estimates quickly
• Sketch complicated structures effortlessly from readily-available geospatial aerial data
• Organize and manage your projects, documents, and images
• Calculate depreciation, waste, time, and materials on every project
• Creates more detailed, accurate, and professional-looking estimates
• Provides access to the most current and reliable pricing information

There are several reasons why Xactimate is important for adjusters. One of the most significant benefits of Xactimate is that it provides a consistent method for estimating the cost of repairs or replacement. By using the same methods and data, all adjusters can produce estimates that are consistent with one another. This consistency helps to improve accuracy and reduce the potential for disputes between insurers and policyholders.

Another benefit of Xactimate is that it is efficient. The program allows adjusters to generate estimates quickly and easily, which can be especially important during times of high claim volume or in the aftermath of a major disaster. By using Xactimate, adjusters can complete their work more quickly, which can help to reduce costs and improve customer satisfaction.

Xactimate is also accurate. The program uses current pricing data from a variety of sources to ensure that the estimated cost of repairs or replacement is accurate and up-to-date. This data is continually updated to reflect changes in labor and material costs, which helps to ensure that estimates remain accurate over time.

Transparency is another benefit of using Xactimate. The program provides a transparent and auditable process for estimating the cost of repairs or replacement. This can help to build trust between insurers and policyholders, as both parties can see how the estimate was calculated and what factors were taken into account. This transparency can help to reduce the potential for disputes and improve customer satisfaction.

Finally, many insurance companies require the use of Xactimate for claims handling. This means that adjusters must be trained and proficient in its use to remain compliant with company policies and industry standards. By using Xactimate, adjusters can ensure that they are meeting these requirements and delivering high-quality service to policyholders.

In conclusion, Xactimate is an essential tool for insurance claims adjusters. It helps to ensure consistency, efficiency, accuracy, transparency, and compliance with industry standards. By using Xactimate, adjusters can produce accurate estimates quickly and easily, which can help to reduce costs, improve customer satisfaction, and build trust with policyholders. For these reasons, Xactimate has become a standard tool in the insurance industry and is an essential skill for any adjuster to master.