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Cost of Floor Coverings
Last Post 29 Jan 2007 03:40 PM by Tom Rongstad. 4 Replies.
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Ray Hall
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27 Jan 2007 05:10 PM  

This topic is not about the regular run of the mill catastrophe claims you will find in $250,000. or less dwellings, but the type you will find in  high end penthouses of condos, hotels, executive offices etc. The losses do not have to be from a cat.

1. Wool carpet double glued.

2. All kinds of hardwood floors.

3.Marble, granite, slate etc.

Also your reserch to recommend the bid amount and why ?

 

 

katadj
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27 Jan 2007 08:10 PM  
Good topic Ray.

Having been involved in claims that had carpet hand made and some that cost $3000.00 per Yd (That is NOT a typo) is is incumbent on an adjuster to know what they are dealing with.

Some imported marble is , in many ares, extremely expensive, and the PH's have the receipts to prove it.

Once upon a time, we had a loss in a mansion that had a wool carpet stair runner that cost 2500.00 a linial foot at the manufacturer.

Like Dave Crockett said, be SURE you are right and then go ahead.
"Anyone who has never made a mistake has never tried anything new... Albert Einstein"
Tom Rongstad
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28 Jan 2007 09:07 PM  
That is when Itel Laboratories can help.
HuskerCat
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29 Jan 2007 01:18 AM  

Just curious, Tom...(or anyone else).  Has ITEL been beneficial on imported rugs/carpeting?  Asking because I never used ITEL for those types of floor covering.

Did have one carrier that insisted on using ITEL on each & every loss.  Same carrier also insisted on 12 hail hits per square.

I tried to save them time & money on several carpet losses when the carpets were less than 2 years old, and the insured's had the original material/installation invoices.  But said carrier insisted I send the sample to ITEL.  In each and every instance, the pricing came back $5-10 per sq yd higher than the local RC.  So, at said carrier's direction I re-wrote the estimate using ITEL pricing less applicable depreciation.  Insured's ACV was still higher than the actual current RC.  Payment by the carrier was held up by an additional 7-10 days vs. using the local floor covering co's original invoice scanned & emailed along with my 1st estimate.  

I understand smaller markets may make a difference in ITEL data as well as XM8 data, but it all comes down to the same point that was brought up here originally. 

  

 

Tom Rongstad
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29 Jan 2007 03:40 PM  

I have never used Itel on Imports. I have an Import expert that I use. The carrier you are referencing does require Itel on all carpet claims. They also pay on a fee schedule, correct? The cost of carpet is higher than requested by insured per carrier standard procedures, you earn more.

NO PROBLEM DUDE!!

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