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October 27, 2008 Interim Price List Update Now Available for Areas Impacted by Gustav and Ike

OREM, 
Utah
 — Monday, October 27, 2008 — 

Please be advised that Xactware has just published an interim price list update for regions impacted by damage from hurricanes Gustav (US landfall on Sep 1, 2008) and Ike (US landfall on Sep 13, 2008). This involved 40 specific regions in the Southeast and Midwest ranging from TX to OH.

Pricing Areas Published
Pricing information for areas in and around the following US cities have been published:

Mobile, AL Louisville, KY Shreveport, LA Bay City, TX
Batesville, AR Owensboro, KY Greenville, MS Beaumont, TX
El Dorado, AR Paducah, KY Gulfport, MS Corpus Christi, TX
Fort Smith, AR Alexandria, LA Hattiesburg, MS College Station, TX
Little Rock, AR Baton Rouge, LA Jackson, MS Dallas / Ft. Worth, TX
Evansville, IN Houma, LA Cincinnati, OH Galveston, TX
Gary, IN Lafayette, LA Columbus, OH Houston, TX
Michigan City, IN Lake Charles, LA Dayton, OH The Woodlands, TX
New Albany, IN Mandeville, LA Oklahoma City, OK Tyler, TX
Covington, KY New Orleans, LA Tulsa, OK Waco, TX



A summary of the increases in this publication are as follows (average increases across all areas impacted by this interim update since the Oct 1st publication):

 
25 yr composition roof shingles (material only) 0.5%
25 yr composition roof shingles (material & labor) 2.6%
30 yr composition roof shingles (material only) 1.2%
30 yr composition roof shingles (material and labor) 2.8%
Billable labor rates 3.4%

 

 

 

 

 

 

 

Note - the above percentage changes are calculated as an average of all 40 regions which have been published for this interim update. Actual changes in each area can vary from these averages significantly.

Xactware is continuing to monitor costs in each market and if needed, will publish again prior to the regularly scheduled date of January 1st.

It is critical to understand that Xactware’s published pricing is based solely upon completed surveys as well as an analysis of returned estimates in each area, and that demand surges in material and labor can cause potentially rapid price changes. As such Xactware is not able to guarantee that the prices reported to us will be appropriate for every claim, or for the life of each version of the price list. We encourage all customers to monitor local prices, make changes to line item costs when needed and / or submit pricing feedback to Xactware. Pricing feedback can be submitted either from within Xactimate itself or online at: https://www.xactanalysis.com/.

Despite a short term increase directly after hurricane Ike, gasoline prices continue to decline.
Nationally gasoline prices have dropped nearly 22% ($0.789 per gallon) since the price list publication which occurred on October 1. The US Dept of Energy website reports the aggregate price (all grades combined) to be $2.855 / gal as of October 20. This is the lowest price reported since October 2007. See the US Dept. of Energy website for details at: http://www.eia.doe.gov/oil_gas/petroleum/data_publications/wrgp/mogas_history.html

Naming Convention for this interim update
Price lists generally use a “year” and “quarter” code within the name to designate the date in which they were published. For example, those published for 4th quarter 2008 received an “8D” at the end of the name. This code represented the year (8 = 2008) and the quarter (D = 4th quarter) respectively.

For this interim update, price lists will have a code of “27OCT08” rather than the standard year and quarter designation. You will note this new name in your list once downloaded.

To download a price list in Xactimate:
To use this method, you must be a registered XactNet user.

  • From the Control Center tab click Services in the menu bar, select Request Price List from XactNet, and then click Xactware Price List.
  • From the Request Price List window, enter the country, state/province, and city for the price list you would like to download. If you would like to receive the Zip/Postal code table that goes with the requested price list, then check this box as well.
  • After making your selections, click the Download Now button.
  • A window appears advising you that the price lists have been downloaded and are now available to use in Xactimate. Click OK.
  • Note: if you are currently participating in an insurer program where you normally receive automatic price list updates, you will now receive this newly updated publication.

About Xactware
Xactware Solutions, Inc. ("Xactware") is a wholly owned subsidiary of ISO 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 contact us online.

About ISO
A leading source of information about risk, ISO provides data, analytics, and decision-support services to professionals in many fields, including insurance, finance, real estate, health services, government, human resources, and risk management. Using advanced technologies to collect, analyze, develop, and deliver information, ISO helps customers evaluate and manage risk. The company draws on vast expertise in actuarial science, insurance coverages, fire protection, fraud prevention, catastrophe and weather risk, predictive modeling, data management, economic forecasting, social and technological trends, and many other fields. To meet the needs of diverse clients, ISO employs an experienced staff of business and technical specialists, analysts, and certified professionals. In the United States and around the world, ISO helps customers protect people, property, and financial assets. For more information, visit www.iso.com.