What is Xactimate? The Premier Tool for Insurance and Restoration Professionals
In the aftermath of property damage—whether from natural disasters, accidents, or unexpected events—accurately estimating repair costs is crucial.
This is where Xactimate comes in. As one of the most widely used insurance claims estimating software, Xactimate has revolutionized how adjusters, contractors, and public adjusters calculate the cost of repairs.
But what exactly is Xactimate, and why has it become the gold standard in the insurance and restoration industries?
What is Xactimate?
Xactimate is an advanced estimating software developed by Xactware, a Verisk Analytics company. Primarily used in the insurance and property restoration industries, it allows users to create detailed and precise repair estimates for homes and businesses affected by damage.
Since its inception in 1986, Xactimate has evolved into a comprehensive cloud-based, desktop, and mobile platform, making it accessible to professionals in the field and in the office. It has become the industry standard for streamlining the estimating process in insurance claims.
Key Features of Xactimate
1. Comprehensive Pricing Database
Xactimate includes a vast, regularly updated database with material, labor, and equipment costs based on current market trends. This ensures that estimates are accurate, fair, and regionally relevant.
2. Advanced Sketching Tools
The software comes with built-in sketching tools, allowing users to create detailed floor plans and 3D renderings of damaged structures. These tools improve measurement accuracy and help in visualizing the project scope.
3. Multi-Platform Access
Xactimate is available on desktop, online, and mobile devices, ensuring seamless data synchronization. Users can start an estimate in the field on a tablet or smartphone and complete it later on a desktop computer.
4. Real-Time Collaboration
The software enables insurance adjusters, contractors, and claims representatives to work together in real-time, reducing delays and improving communication between stakeholders.
Who Uses Xactimate?
1. Insurance Adjusters
Insurance adjusters use Xactimate to assess property damage and generate accurate repair estimates. The software ensures consistency across claims, helping insurers settle claims fairly and efficiently.
Learn: Home Insurance Adjuster Estimate Too Low? Tips & Advice
2. Restoration Contractors
Restoration professionals rely on Xactimate to estimate costs for repairing homes and businesses after damage from fires, floods, storms, or other disasters. The software provides detailed, itemized reports, ensuring transparency between contractors, homeowners, and insurance providers.
3. Public Adjusters
Public adjusters, who represent homeowners and policyholders, use Xactimate to ensure insurance companies provide fair compensation for property damage. By generating precise damage estimates, they advocate for higher settlements that reflect the true cost of repairs.
What are the Benefits of Using Xactimate?
1. Increased Efficiency
With automated calculations and a user friendly interface, Xactimate significantly reduces the time needed to generate detailed estimates. This allows insurance professionals and contractors to handle more claims efficiently.
2. Improved Accuracy
Because Xactimate uses real-time pricing data, estimates are based on current market conditions. This helps eliminate discrepancies and disputes between insurance companies, contractors, and policyholders.
3. Standardization Across the Industry
Xactimate ensures that all estimates follow a uniform structure, promoting fairness and consistency across insurance claims. This standardization benefits insurance adjusters, contractors, and homeowners alike.
4. Enhanced Communication
Xactimate generates comprehensive reports that clearly outline damage assessments and cost estimates. This improves communication among all parties, reducing misunderstandings and speeding up claim resolution.
How Avner Gat, Inc. Uses Xactimate
At Avner Gat, Inc., we understand how critical precise estimating is for successful insurance claim settlements. Instead of writing estimates ourselves, we work closely with expert general contractors who use Xactimate. These specialists provide detailed, itemized estimates, which we use to negotiate fair settlements for our clients.
If you’re unsure how to read the Xactimate estimate provided by your insurance company, you’re not alone—many homeowners and business owners struggle to understand what they were actually paid for.
Our team of expert adjusters can review your estimate with you, ensuring clarity and accuracy. Contact us today at (818) 917-5256 to learn how we can assist with your claim!
Is Xactimate Hard to Learn?
While Xactimate is a powerful tool, it has a learning curve, especially for new users. Many insurance professionals and contractors undergo specialized training or take Xactimate certification courses to master its features.
However, once learned, the software significantly enhances efficiency, making it a valuable investment for anyone in the insurance claims and property restoration industries.
