{"id":1554,"date":"2013-04-29T06:46:46","date_gmt":"2013-04-29T12:46:46","guid":{"rendered":"https:\/\/www.myconstructionexpert.com\/blog\/?p=1554"},"modified":"2013-04-25T10:47:22","modified_gmt":"2013-04-25T16:47:22","slug":"claim-estimates-too-low-for-sandy-storm","status":"publish","type":"post","link":"https:\/\/www.myconstructionexpert.com\/blog\/claim-estimates-too-low-for-sandy-storm\/","title":{"rendered":"Claim Estimates Too Low For Sandy Storm?"},"content":{"rendered":"<p>Joseph A. Porcelli &#8211; April 17, 2013<\/p>\n<p><strong>Super Storm Sandy \u2013 Are Insurer&#8217;s Claim Estimates Too Low?<\/strong><\/p>\n<p>Many victims of Super Storm Sandy have found that the settlement offered by their insurance company falls short of the actual costs associated with rebuilding and restoring the damages incurred.\u00a0 There are several reasons for this disparity.<\/p>\n<p>Most insurance carriers employ outside claims adjusters to conduct site inspections of the damaged homes, condominiums and businesses.\u00a0 These outside claims adjusters are typically overwhelmed with insurance claims, so there is a real incentive for them to conduct the site inspections quickly, which may result in errors in the scope and pricing of repairs.\u00a0 Another reason the settlement offered falls typically short is that the software used by the insurance company to calculate the claims does not adequately reflect the reality of the devastation caused by Super Storm Sandy.<\/p>\n<p>In the past decade, there have been computer software programs used by insurers to estimate construction costs.\u00a0 These programs calculate structural damage, repair and rebuilding expenses.\u00a0 Unfortunately the models are based on tract housing and do not take into consideration such things as historic, custom or expensive dwellings.\u00a0 Furthermore, Super Storm Sandy ravaged areas and communities comprised of high valued real estate.\u00a0 As a result, the estimates produced by these software programs will most likely be insufficient to reimburse you for the actual cost of rebuilding or replacing your home.<\/p>\n<p>Builders and contractors retained by property owners do not use this type of software program to produce their estimates.\u00a0 They base their cost estimates on sub-contractor bids and their general knowledge about the costs and time involved in a potential job as well as the current cost of materials found locally.<\/p>\n<p>Another factor that these software programs do not take into consideration is the principal of supply and demand.\u00a0 The amount of damage produced by Super Storm Sandy was cataclysmic.\u00a0 As a result, contractors are inundated with requests for bids and estimates.\u00a0 The demand for skilled labor far exceeds the supply, so contractors and builders are not able to compete for work.\u00a0 Therefore those left to rebuild have little room to negotiate pricing, often creating a gap between the claim settlement offered by the insurance company and the actual cost of restoring and repairing their homes.<\/p>\n<p>Retaining an attorney with expertise and knowledge in the area of insurance settlements can provide you with the protection and guidance necessary for a successful claim.<\/p>\n<p>via <a href=\"http:\/\/www.thepropertydamageblog.com\/2013\/04\/claim-estimates-too-low-for-sandy-storm.html\">Claim Estimates Too Low For Sandy Storm?<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Joseph A. Porcelli &#8211; April 17, 2013 Super Storm Sandy \u2013 Are Insurer&#8217;s Claim Estimates Too Low? Many victims of Super Storm Sandy have found that the settlement offered by their insurance company falls short of the actual costs associated with rebuilding and restoring the damages incurred.\u00a0 There are several reasons for this disparity. Most&hellip; <a class=\"more-link\" href=\"https:\/\/www.myconstructionexpert.com\/blog\/claim-estimates-too-low-for-sandy-storm\/\">Continue reading <span class=\"screen-reader-text\">Claim Estimates Too Low For Sandy Storm?<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[3,1],"tags":[3,1,259],"class_list":["post-1554","post","type-post","status-publish","format-standard","hentry","category-insurance-claims","category-insurance-estimates","tag-insurance-claims","tag-insurance-estimates","tag-superstorm-sandy","entry"],"jetpack_publicize_connections":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Claim Estimates Too Low For Sandy Storm? - Advise &amp; Consult, Inc.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.myconstructionexpert.com\/blog\/claim-estimates-too-low-for-sandy-storm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Claim Estimates Too Low For Sandy Storm? - Advise &amp; Consult, Inc.\" \/>\n<meta property=\"og:description\" content=\"Joseph A. Porcelli &#8211; April 17, 2013 Super Storm Sandy \u2013 Are Insurer&#8217;s Claim Estimates Too Low? Many victims of Super Storm Sandy have found that the settlement offered by their insurance company falls short of the actual costs associated with rebuilding and restoring the damages incurred.\u00a0 There are several reasons for this disparity. 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