Understand 5 Frequently Overlooked Property Loss Costs

Property insurance settlements often fall short of meeting replacement costs. Getting an independent property loss estimate can help you prove the true cost of recovery. Triad’s team of property appraisers can assess, document, and report property repair or replacement estimates.

Here are 5 often-overlooked elements of property-loss estimation:

  1. Hidden Damage
    Surface-level damage is easy to assess, but costly underlying issues can easily be overlooked. With deep analysis tools, our experts can determine root causes and ensure complete restoration costs are fully captured.
  2. Code Updates
    As environmental conditions and building materials evolve, it’s not uncommon for building code changes to reflect new safety goals. This affects repair costs as updates will need to meet the new, and often more costly, codes to pass inspection.
  3. Specialized Labor and Materials
    Non-standard repair or replacement efforts incur additional costs. Whether it’s due to sourcing issues or scarcity of materials/talent, our property-loss estimates can help you capture these costs.
  4. Personal property damage
    If your insurance policy covers your property structure in addition to its contents, you’ll also want to document any meaningful personal property loss or damage, such as electronics and furniture.
  5. Inflation
    Pricing is constantly in flux as market and environmental changes occur. Make sure your property damage cost estimate is based on current conditions and pricing so that it provides adequate coverage for rebuilding.
Estimating the full cost of property damage can be tricky. If your insurance company isn’t delivering what you need to fully repair or rebuild, contact us for an independent property-loss assessment that you can use to negotiate a fair settlement.