As we head into spring and the snow begins to melt, last fall’s dry grass and leaves are exposed. In turn, wildfires tend to become more prevalent. A nearby campfire, or a neighbor burning a garden, can get out of control. If that happens and the fire causes property damage, attorneys and insurance companies may get involved.
For the affected landowner to receive compensation for the loss of trees and other property damages, the insurance company will need to place a value on the loss. Steigerwaldt has expert staff to guide landowners and insurance agents through the valuation process. We conduct site visits to inspect the damages, count and measure trees, take measurements and pictures of other damages, apply values to the various damages, and estimate the total value of the loss.
Every situation is different; however, we often use several approaches including the cost to cure (the cost to replace the lost trees and repair any other damages), the loss in value of the property due to the damage, and the loss in merchantable timber value. Our experts then compare and reconcile the different approaches to estimate the final damages.
Contact Steigerwaldt if you have any questions about any type of tree damage valuations, including damages from forest fires.
– Richard Congdon, Project Manager