Reality Estimating in the Property Ins Industry
Wednesday, December 15th, 1999 PropertyAs a construction consultant in the insurance industry, specializing in property damages, I have seen construction estimates come in many different styles and formats. While they may appear accurate on the surface, many of these estimates are inaccurate, meaningless and have no correlation with the basic building blocks of costs associated with construction. We tend to forget that the cost components for assembling a building are 1) a working person's time, 2) the building materials, 3) equipment, and 4) management. It is basically that simple, with common-sense logic to the whole process. Many insurance claim estimates have become compilations of numerous pages of building square footages and unit costs, lacking the credibility and reality associated with construction.
