When water, fire, mold, or storm damage strikes your home or business, the stress isn’t just about repair. It’s about figuring out how those repairs will be paid for.
At FastPro Restoration, we believe that informed clients make better decisions. That’s why this page breaks down everything you need to know.
Not every restoration project has to become an insurance claim.
FastPro Restoration can inspect the damage for free and walk you through our recommended restoration plan, so you have all the information you need to make a decision before contacting your insurance company. You can consult with your insurance agent if you are unsure if filing an insurance claim makes sense for you.
There are three main ways restoration projects get paid for:
Insurance claim proceeds (most common)
Out-of-pocket or self-pay
Financing or hybrid options
Need immediate help? Call our 24/7 emergency line today.
We rely on standardized estimating software used nationwide on most insurance claims.
The Industry Standard: Xactimate
Xactimate is the most widely used pricing platform in the insurance restoration industry.
Having Xactimate as a part of the restoration process is a big win for clients. This standard pricing model ensures that you can focus on picking the highest quality contractor and not the cheapest option. Additionally, the pricing system is the same for both independent restoration companies and vendor program restoration companies. This means you are not limited to choosing a restoration contractor sent from the insurance company. As the customer, you have the right to choose the contractor you trust the most to restore your property.
At FastPro Restoration, our pricing is based on local Xactimate rates. This industry-specific software provides insurance-approved restoration estimates. Pricing factors include:
To ensure measurement accuracy, our team uses DocuSketch, a 360° imaging system that creates detailed visual documentation of your property. This helps us provide precise estimates and comprehensive reports for insurance or self-pay options. We are IICRC-certified and follow industry standards to develop all mitigation and restoration plans, including:
A deductible is the amount you pay out-of-pocket toward the cost of restoring your property.
Example:
It’s important to understand your deductible because, in most cases, it’s the only portion you are responsible for during an insurance claim. Your insurance adjuster will subtract your deductible from the claim payment, typically during either the mitigation or restoration phase of the project.
FastPro gets to work immediately to stop secondary damage with our mitigation services (water extraction, drying, containment, tarping, board-ups, fencing, and content packout).
Throughout the process, we collect all of the information your insurance adjuster needs to confirm coverage and pay out your insurance settlement. We provide them with:
Communication is everything. We build a line-by-line estimate aligned with insurance pricing standards. We can send your adjuster the estimates for any of the restoration phases, including mitigation, content,s and reconstruction.
The insurance adjuster reviews and may:
This phase occurs when additional information, documentation or conditions are identified after the initial estimate is submitted to the insurance carrier. It allows the scope and pricing to be updated so the claim accurately reflects the work required to restore the property.
This phase begins once the scope of repairs has been reviewed, approved, and authorized by the insurance company and the homeowner. At this point, materials, trades, and timelines are coordinated to ensure reconstruction begins efficiently and correctly.
Clients are often surprised to learn that their mortgage company is listed on their insurance claims check. This happens because they own a portion of the property and want to ensure the work actually gets done.
Our team works with all mortgage companies and can provide them with all the documentation needed to release repair money throughout the process.
Our team is as excited as you are to get you back to normal. We have a final FastPro inspection on all projects to ensure maximum client satisfaction. If any issues need to be addressed, we quickly develop a punch list and make sure the final touches are all taken care of.
FastPro gets to work immediately to stop secondary damage with our mitigation services (water extraction, drying, containment, tarping, board-ups, fencing, and content packout).
Throughout the process, we collect all of the information your insurance adjuster needs to confirm coverage and pay out your insurance settlement. We provide them with:
Communication is everything. We build a line-by-line estimate aligned with insurance pricing standards. We can send your adjuster the estimates for any of the restoration phases, including mitigation, content’s and reconstruction.
This phase occurs when additional information, documentation or conditions are identified after the initial estimate is submitted to the insurance carrier. It allows the scope and pricing to be updated so the claim accurately reflects the work required to restore the property.
This phase begins once the scope of repairs has been reviewed, approved, and authorized by the insurance company and the homeowner. At this point, materials, trades, and timelines are coordinated to ensure reconstruction begins efficiently and correctly.
Clients are often surprised to learn that their mortgage company is listed on their insurance claims check. This happens because they own a portion of the property and want to ensure the work actually gets done.
Our team works with all mortgage companies and can provide them with all the documentation needed to release repair money throughout the process.
Our team is as excited as you are to get you back to normal. We have a final FastPro inspection on all projects to ensure maximum client satisfaction. If any issues need to be addressed, we quickly develop a punch list and make sure the final touches are all taken care of.
Our goal is to remove friction, reduce back-and-forth, and keep your claim moving forward as fast as possible.
Our FastPros help by:
Yes—financing may make sense when:
FastPro can discuss financing or phased work options depending on your situation. A FastPro representative can help explain the financing options available to you.
Insurance companies base restoration projects on Xactimate estimates, issuing initial and final payments once work is completed and documented.
Yes. A professional inspection helps you understand the severity of damage so you can decide whether filing a claim makes financial sense.
Yes. Emergency mitigation must start immediately to prevent further damage. Often, clients want to wait for their insurance agent to confirm before filing a claim. But disasters happen overnight, on weekends, and during the holidays. That’s why most insurance companies have an emergency hotline for claims so you can file a claim 24/7.
The main point of mitigation is to stop secondary damage. The more damage that happens, the more expensive the repairs will be.
After our team walks you through the extent of the damage, we can join you on the phone with your insurance company to help answer any questions about the loss.
Recoverable depreciation exists to motivate policyholders to actually repair or replace damaged property rather than simply pocketing the initial payout. By holding back a portion of the claim until repairs are complete, insurers help ensure the property is restored to its original—or as close as possible—condition.
You can recover the depreciation by completing the repairs or replacing the damaged item. Once you provide proof of the work—such as receipts or invoices—the insurance company will release the withheld amount.
Example:
Initial payment = $6,000
Recoverable depreciation = $3,000 (paid after repairs are done)
It depends. If you log an insurance claim, you only pay FastPro with your deductible. Insurance reimburses covered amounts minus your deductible.
If you pay out of pocket, you pay FastPro Restoration directly.
FastPro will address any issues during the estimation process and provide documentation to justify any additional scope and costs to restore your house.
It’s important to understand that we are an independent restoration company that works for you and with insurance companies. Many big chains are a part of managed-repair or vendor programs where they work with you, but for the insurance company.
Restoration costs vary greatly depending on the specifics of the loss. The more damage and the more complicated the loss, the higher the costs.
The best way to determine restoration costs is to ask FastPro to assess the damage. We will guide you through the options and process and establish a precise estimate based on Xactimate pricing. Click here to contact us: https://www.callfastpro.com/contact-us/
We look forward to hearing from you and welcoming you to the FastPro team!
