Storm Property Damage Tracker

Description

This Property Damage Tracker is a must-have for organizing your damage repairs and working with your insurance company.  Although the recovery process can be over-whelming, this tool puts all your basic policy / contact information, damages, repair costs, and insurance payments received to-date…all in one place.

The Settlement Tab is the key to this tool

It can be used to input the insurance company’s settlement offer and immediately see if your repairs are being covered, or what your out-of-pocket costs will be.  You have the option of viewing your costs a couple ways:

• REMAINING out-of-pocket costs  (costs after insurance company subtracts your deductible from the repair costs)
• TOTAL out-of-pocket costs  (costs including your insurance deductible and repair costs).

You can also input different settlement offers upfront to determine what remaining amount is needed to cover your expenses.  Either way, you will be better informed and prepared in your negotiations.

Simple

The Tracker is easy-to-use.  It’s an Excel-based format (best to have Excel on your computer).  Each sheet has instructions at the bottom if needed.  You only input information in the yellow areas.

The Tabs (sheets) include:

General Information  – Policy information & contacts, Mortgage, Public Adjuster, Attorney info if needed

Vendor Quotes  – Repairs / Losses and costs to repair or replace them

Adjusted Costs  – You can adjust costs if you are doing some repairs yourself or upgrades

Cost Comparison  – Compares Adjusted Costs vs Vendor Quoted Costs

Insurance Payments Received  – Tracks initial payments the insurance company sends you

Settlement  – Input final settlement offers to see if repairs are covered or what out-of-pocket costs will be

– Can click check box to use Adjusted Costs instead of Vendor Quoted Costs (default)

“Great tool. Through Hurricane IRMA, we had water damage in several areas of our home. The roof was the culprit but the insurance company kept denying the claim and offered a minimal (insulting) amount to repair the inside damaged areas. It continually drug on and the roof continued to leak, so we eventually had to retain an attorney. After a long period, we eventually ended up in mediation. For the mediation, I had transferred this tool to my iPad and used it during the negotiations. Our Attorney was impressed and asked where I got it. With each offer the Insurance Rep and their Attorney made, we were able to input the offer and immediately see if it was acceptable or not. After numerous offers were made, they finally made an offer that was acceptable and our roof and repairs were done. This was an invaluable tool to have in our negotiations, and I believe it made a clear difference for us in the final outcome.”

Edward – FL