The estimate document
Components typically included:
- Cover page with claim info
- Scope / line-item detail
- Sketch / measurements
- Depreciation schedule
- Summary totals (ACV, RCV, deductible, payable)
How it's built
- Sketch measurements entered
- Line items selected per room
- Quantities derived from sketch
- Pricing from regional price list
- Depreciation calculated
- Supplements added (permits, O&P)
- Deductible applied
- ACV / RCV split
Reading the estimate
Line-item level
- Each item described
- Unit (sqft, LF, each)
- Quantity
- Unit price
- Total
Depreciation
- Per-item age assumption
- Percentage depreciation
- Labor depreciated (disputed)
Totals
- Replacement Cost Value (RCV)
- Depreciation
- Actual Cash Value (ACV)
- Deductible
- Payable amount (ACV minus deductible)
Red flags
- Missing rooms
- Under-measured square footage
- Wrong grade of materials
- No O&P when warranted
- Labor depreciated
- Code items absent
- Matching scope limited
How to compare to your estimate
- Line item by line item
- Quantity and unit check
- Pricing verification (current Xactimate)
- Scope completeness