Depreciation defaults

Updated by Jill Bowers

Depreciation defaults used to require Verisk-created data updates or individual instance changes through Xactimate online. Profile owners can now use the new Xactimate Admin to create and control depreciation defaults, along with many other settings. After a profile owner sets depreciation in Admin, users will no longer set them in each instance of Xactimate online. 

Is there any specific advice I should keep in mind the first time I use the Depreciation Defaults tool? 

The most important thing to remember while you make changes to depreciation defaults (or making changes anywhere in Xactimate Admin) is that any changes made by profile owners immediately apply to current and future estimates using your profile, so be sure to double-check the default depreciations you set before selecting Save.   

How do I setup depreciation for a specific state? 

Go to the depreciation tab after you select your profile, and then use the State/Province Specific Defaults drop-down menu to choose the location and defaults for your profile. 

Missing or incorrect state default information can cause faulty information to be used in projects, and there is no systematic way to correct them. Settings previously configured via Xactware data update or in the previous version of Xactimate online are not automatically added to Xactimate Admin.  

How do I activate depreciation options? 

To activate or turn on depreciation options, slide the toggle to the right of the depreciation option. 

If I do not have a specific state/providence setup what defaults will be used? 

States without specifically configured defaults use the defaults on the left side of the deprecation defaults card.  

How do I control which settings can be adjusted inside a project and which should be locked down? 

Each depreciation option has a small lock icon beside it. If you are a profile owner, you can unlock/lock each depreciation option to control what can change in a project in Xactimate. A locked icon prevents any changes from occurring in the project; an unlocked icon allows changes. 

Why can’t I set depreciation defaults for my instance like I can for the Carrier or Contractor profiles? 

The Carrier and Contractor profiles are considered generic and allow instance administrators to set depreciation defaults for these profiles. For other profiles, the profile owner sets depreciation defaults to be used. 

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