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Hawaii Most Expensive State to Repair Homes in 2004

OREM, 
Utah
 — Monday, March 14, 2005 — 

If your home was damaged and needed repair in 2004, Hawaii was the most expensive state to get the work done. With prices more than 47 points higher than the national average, Hawaii heads the list released by Xactware, Inc. Xactware provides more structural repair cost data for insurance carriers and repair contractors than all of its competitors combined in the United States. Arkansas was the least expensive state to get your home repaired with prices almost 10 points below the national average. Hawaii most expensive repair state

The national average is designated as index point 100.00 with state averages scoring above or below the 100.00 mark, indicating costs higher or lower than the national average. The index takes into account cost of materials, labor and equipment for building components to rebuild an entire home.

Xactware releases information about residential reconstruction trends periodically. These releases, called XactFacts, are statistics, rankings, trends and other helpful pieces of information related to the property repair industry. XactFacts are gleaned from Xactware research and millions of estimates processed through Xactware's business-to-business network. Insurance companies, contractors, subcontractors, suppliers and independent adjusters all use Xactware's network. Xactware's unique ability to analyze data from all sides of the reconstruction industry provides accurate information about national and local trends. XactFacts are published on Xactware's Web site (www.xactware.com) and in press releases throughout the year.

Xactware has been providing building cost data to the insurance repair market since 1986. Insurance carrier clients using that data today account for the majority of property claims in the United States and Canada. The building cost data published by Xactware represents a unique combination of direct research with material and equipment suppliers and labor providers, as well as an analysis of estimates written for the purpose of winning contracts and settling property claims.

Analyzed written estimates come from insurance carriers, independent, adjusters, contractors, specialty program administrators and other service providers writing estimates for property restoration. This method provides the highest level of confidence.

CONTACT: Xactware, Inc., Orem, Utah | Ken D. Loveland, 801-426-3879 | kdloveland@xactware.com

Printable Version | Florida Saw Steepest Home Repair Cost Increases in 2004


About Xactware

Xactware Solutions, Inc. (Xactware) is a wholly owned subsidiary of Verisk Analytics specializing in the property insurance, remodeling, and restoration industries. Xactware’s technology tools include software estimating programs for PCs and tablet PCs, as well as powerful online systems for replacement-cost calculations, estimate tracking, and data trending in real time.

For more information about Xactware’s products and services, contact Xactware at 1-800-424-9228 or online.