Replacement Cost Estimators---

[digitalbil]

MSB, ISO 360 value and E2Value.
My question is at what stage is the right stage to be doing the RCE. Which one of these three do you prefer? Have you used a Comparative Rating Software?

 

[fearsback]

I prefer MSG of those listed above. 360 is normally the highest of the bunch. I use Semcat and have used rating dynamics in the passed.
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MSB I meant. When to do an rce all depends on the situation.

 

[JimmiDrums]

I like MSB. We complete a MSB before starting any new home quotes. Otherwise how would you determine Cov A?

 

[BIG RED IS BACK]

before you bind the policy, they take too long to do on every quote.

some of our carriers have a MINIMUM price per square foot, so thats what we use for quotes.

if the RC is a few thousand higher, it wont affect the rate much

 

[Accelerated]

MSB, ISO 360 value and E2Value.
My question is at what stage is the right stage to be doing the RCE. Which one of these three do you prefer? Have you used a Comparative Rating Software?

Xactimate has a decent residential valuation program built in to it;s estimating platform. As far as residential property goes (they do not offer one for commercial), every carrier I have dealt with over the years has readily accepted Xactimate produced residential valuations as a solid benchmark for an ITV report.

 

[Guest]

x2 on MSB. I use them and really like them. Their values are accurate and the site is very easy to use.

 

[scottye7]

What software is this?

 

[Underwriter2Agent]

What software is this?

Most homeowner carriers will have their contract with one of the above 3 Replacement cost estimate tools. Even though they are available on individual basis or you can purchase them I have not seen any of my agent friends spend the money to date.

Maybe appraisers....agents just use it within whatever quoting system they are processing.

 

[scottye7]

I just purchased the Xactimate study guide booklet with a CD that has the software; however, it's only good for 30 days. Then I think you have to purchase it. A friend of mine informed me that the software with the 5 basic steps runs around $1,500. Is this a correct fee for the software? I feel this is a little steep plus, I think you have to pay a monthly fee.

 

[thenxtgrt1]

MSB is integrated in system for my primary carrier. I use it on every quote. It's just part of the process.