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13-68C5-81F
Building Estimate Summary Guide
This summary guide is based on a sample estimate and is provided for reference only.
Please refer to the estimate for specifics of your claim.
State Farm Insurance 1. Line Item Total – Total value of all line
items in the estimate plus possible
adjustments for labor minimums. Labor
Insured: Smith, Joe & Jane Estimate: 00-0000-000
Minimum is to cover a certain minimum
Property: 1 Main Street Claim number: 00-0000-000 number of hours for drive-time, set up
time and applicable administrative
Anywhere, IL 00000-0000 Policy Number: 00-00-0000-0
costs and repairs.
Type of Loss: Other Price List: ILBL8F_MAR 13
Restoration/Service/ 2. General Contractor’s Overhead and
Deductible: $1,000.00
Remodel Profit – General contractor’s charge for
F = Factored In, coordinating your repairs.
D = Do Not Apply
3. Replacement Cost Value (RCV) –
Summary for Dwelling Estimated cost to repair or replace
damaged property.
Line Item Total 1 5,953.10
4. Depreciation – The decrease in the
Material Sales Tax @ 10.000% x 1,520.00
value of property over a period of time
Subtotal 6,105.10 due to wear, tear, condition, and
obsolescence. A portion or all of this
General Contractor Overhead 2 @ 10.0% x 6,105.10 610.51
amount may be eligible for replacement
General Contractor Profit @ 10.0% x 6,105.10 cost benefits.
Replacement Cost Value (Including General Contractor Overhead and Profit 3 7,326.12
5. Deductible – The insurer will pay for
Less Depreciation (Including Taxes) 4 (832.50) losses, up to the policy limits, in excess
of your applicable deductible.
Less General Contractor Overhead & Profit on Recoverable &
Non - recoverable Depreciation (166.50) 6. Net Actual Cash Value Payment
(ACV) – The repair or replacement cost
Less Deductible 5
of the damaged part of the property
Net Actual Cash Value Payment 6 less depreciation and deductible.
Maximum Additional Amounts Available If Incurred: 7. Non Recoverable Depreciation –
Depreciation applied to items that are
not eligible for replacement cost
Total Line Item Depreciation (Including Taxes) 4 832.50 benefits.
Less Non - recoverable Depreciation (Including Taxes) 7
8. Total Maximum Additional Amount if
Subtotal 312.50 Incurred – Total amount of
General Contractor O&P on Depreciation 166.50 recoverable depreciation after actual
repair or replacement of the property.
Less General Contractor O&P on Non - recoverable Depreciation
Subtotal 9. Total Amount of Claim if Incurred –
Total amount of the claim, including net
Total Maximum Additional Amounts Available If Incurred 8 actual cash value payment and total
Total Amount of Claim If Incurred 9 maximum additional amount available if
incurred.
Claim Representative
ALL AMOUNTS PAYABLE ARE SUBJECT TO THE TERMS, CONDITIONS AND LIMITS OF
YOUR POLICY.
1002989 139928.1 01-23-2013
Date: 6/6/2024 1:35 PM Page: 2