Creating an A.L.E. (Additional Living Expenses) estimate has never been easier. Just a few quick key strokes and in minutes you have professional A.L.E. Estimates. The A.L.E. estimator has the ability to create detailed Additional Living Expense Estimates by either an Actual Expense method or by a Fair Rental Value calculation.
Using the Actual Expense method, the A.L.E. estimator calculates the insured’s total normal expenses and subtracts them from the total actual expenses incurred, due to the insured’s being displaced from the residence. User’s may opt to use the A.L.E. estimator’s Fair Rental Value (FRV) calculation which simply enters an agreed upon amount for the loss of use of the residence for a specific period of time.
The program allows you to create an unlimited number of A.L.E. Estimates for a single claim file. The A.L.E. Estimator contains a single screen that is displayed when the user creates a new A.L.E. estimate.
The upper portion of the screen contains data fields that are printed on the A.L.E. estimate printout. These fields are self-explanatory. The lower portion of the A.L.E. estimator contains the Expense Table Worksheet. Normal and Actual Expenses are entered in either pre-defined or customized categories of the table. Each expense category may contain several different living expense item descriptions.
ALE Screen Fields Defined:
|Title||Name of the Estimate that appears under A.L.E. ESTIMATE heading in the Claim Enclosures Tree. The system default is A.L.E. Estimate.|
|Apply Coverage Checkbox||Applies a specific coverage amount to the A.L.E. Estimate. This is an important field to be completed if you are printing forms such as the Statement of Loss.|
|Coverage Drop-Down||Select the coverage you want to tie to the current A.L.E. estimate. This drop-down field is only available when the Apply Coverage checkbox is checked.|
|Notes||Places user notes in the A.L.E. Estimate|
|Members of Household||Number of people that live at loss location.|
|Insured Annual Income||Total combined annual income of the insureds.|
|Est. Cost of Repairs||Estimated cost of the repairs to the insured building.|
|Est. Repair Time||Length of time the Insured is displaced.|
|Time Agreed with drop-down field||Selects the party the adjuster agreed with in regards to the estimated repair time (the amount of time the insured would be displaced).|
|Monthly F.R.V.||Monthly Fair Rental Value amount agreed to by the insured and adjuster.|
|Basis of F.R.V.||Drop-down box, select furnished or non-furnished for the basis of Monthly F.R.V. amount.|
|Source of F.R.V.||Drop-down box, select Real Estate Agency or Classifieds for source of Monthly F.R.V. amount.|
|Paid Advances||Total amount of paid advances to the insured for additional living expenses. This amount is deducted from the A.L.E. estimate totals.|
|Living Expense Category||Drop-down box, which displays a list of categories used by the A.L.E. worksheet. Users may add custom categories by typing over any existing category. The system creates your custom category for the A.L.E. and retains the category you typed over.|