In the wake of a major accident or delay on a construction project, don’t start pinching pennies when it comes to the graphics needed to submit a soft cost insurance claim. Every soft cost insurance claim should contain two critical graphics.
The first is the “Extent of Damage” graphic. This graphic is a general schematic of the project, for example a building with several floors, that is color coded to visually show the extent and cause of damage. A normal color coding example would be red = severe fire damage, yellow = moderate fire damage, gray = smoke damage, dark blue = severe water damage, light blue = moderate water damage, and so on. An “Extent of Damage” graphic provides a powerful visual tool to help the adjuster, who may not be a construction expert, understand the extent and causes of damage. If this graphic is provided to the adjuster as soon as possible after the event, the graphic can help to prevent future disputes regarding the scope of damage and associated repairs.
The second necessary graphic is a timeline of the events. The timeline should show the anticipated completion date, the date of the event that triggered the loss, and the actual completion date of the project. If there are other factors that affected the completion date, a hypothetical date of when the project would have been completed “but for” these additional events should be shown.
Graphics like these can help the claims process go more smoothly and help you achieve winning results when submitting a construction soft cost or delay in completion insurance claim.
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