How TWIA Estimates Repair Costs

How TWIA Estimates Repair Costs
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Our goal is to help you, the policyholder, begin restoring your home or business as quickly as possible. Your initial claim payment is intended to help you start this process and may not cover the total cost of repairs, especially in the aftermath of a hurricane when repair costs can significantly increase.

When determining your initial claim payment amount, TWIA considers field adjuster reports and estimates for repair work as well as estimates submitted by you. If the total cost of your repairs exceeds or is expected to exceed your initial claim payment, you may be eligible for supplemental payments.

In creating their estimate, the field adjuster performs an onsite inspection to review damage and take detailed measurements of the property. It is helpful if the policyholder is present at the time of inspection so they may allow the field adjuster to inspect both the exterior and interior of the property and answer any questions s/he may have.

The field adjuster uses generally accepted industry software to estimate repair costs. A detailed diagram of the building is sketched within the software program, often with the combination of aerial imagery and onsite measurements. The company that produces the estimating software conducts market research to determine repair cost prices in your area. These prices are updated monthly and it is possible they will not reflect the rapidly increasing price of labor and material in the aftermath of a hurricane.

The field adjuster creates a report and estimate for your claim and submits it to TWIA. The TWIA desk examiner assigned to your claim reviews the field adjuster’s report, estimate, and any additional supporting documents. They determine your initial claim payment based on this information and issue your claim payment check.

If you are not able to have repair work performed for the amount on your claim payment check (remember: you are responsible for the deductible portion of your loss), contact TWIA and submit new/additional contractor estimates/documentation as soon as possible so we can determine the amount payable for your claim.

Please note: This is the usual process. Every claim is unique and adjusted on its own merits.