Complete was hired by State Farm to develop cost models for various properties damaged by the wind and flood from Hurricane Katrina in 2005. These properties were several miles inland riverfront in a community of homes elevated on pilings. We were charged with establishing replacement cost numbers for the various residences. We were presented as experts on hundreds of properties on the likely damages associated with the wind or from the flood. On many occasions the residences were completely gone having been both likely damaged by wind and then assuredly removed by the floodwaters. On many occasions all that remained of these residences were the pilings. On every occasion our mission was to establish:
- Age of construction
- Shape – rectangular, square, complex
- Framing construction
- Exterior and interior finishes, appliances
- # of bedrooms and baths
- Square Feet of porches covered or not
- Custom features
- Deprecation factor
We utilized tax records, contractor interviews, deposition records, building code data, satellite imagery, retained photographs of the owner and Xactvalue estimating software to put together the costs. In addition, we worked with the engineers to establish the code requirements of the original construction for the engineers’ purpose of laying over the recorded wind speeds to establish a damage model. On some occasions we then broke out the wind only apart from what would have likely been the flood absent the wind.
Hurricane Katrina: Insurance Appraisals and Expert Witness Services
