Water Damage Estimate Template
A water damage estimate states the cost a prospective customer may pay for remediation and restoration services related to water damage. Developing an estimate requires considering the scope of work, calculating the cost to complete that work, and a profit margin for the contractor or company performing the work. The figure produced in an estimate is not binding, but inaccurate estimates reflect poorly, and should be arrived at through careful consideration.
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Structure of a Water Damage Estimate
Remediation or restoration for water damage is one of the leading causes of insurance claims. Financial responsibility for remediation and restoration services due to water damage is typically assumed in varying degrees by an insurance company. Payment may come as reimbursements from insurance. As such, estimates should be written with sufficient detail to completely justify cost. Here are some important items to consider when creating an estimate for water remediation and restoration:
Room-by-room Estimate of Loss
In order to clearly define the scope of work required to rectify the water damage, the estimate might well be approached on a room-by-room basis. This type of detail will help to paint a picture of the situation for the insurance company. Items that need to be repaired or replaced should be listed in the same order for each room. Make the estimate consistent and clear.
Pictures
Pictures are essential when dealing with insurance claims related to water damage. Properly documented damage will allow a third party to understand the extent of said damage and the work that will be required to fix it.
Cost to Restore to Pre-loss Condition
When creating an estimate of this type, the scope of work should lead to a total cost that restores the property to pre-loss condition.
Category of Water and Class of Damage
Be sure to include the category of water and class of damage. Like pictures, this information is vital in communicating the severity of damage or loss and will justify the cost to complete the project. Black water obviously requires significantly more time and energy to clean up than potable water does. It is necessary to properly identify the reality of the situation.
Type of Estimate
In water remediation and restoration work, different types of estimates may be required along the way. Here are some of the estimates that may be required to complete the project and that may be required by insurance companies:
- Water mitigation estimate
- Demo and dryout estimate
- Water restoration estimate
- Supplemental estimates as needed
Additional Services
Some water remediation and restoration companies will offer additional services to their customers. If these services have additional costs associated with them, they should be included in the estimate. Here are some examples of additional services:
- Direct billing to the insurance company
- Negotiating with insurance adjusters
How to Use the Water Damage Estimate Template
Using the Water Damage Estimate Template is easy: download it and fill it out. Or use our free estimate generator.