Claims Solutions

Pricing Data Services: Construction Materials Pricing Intelligence

Defensible, market-based construction cost research that empowers insurance professionals and contractors with accurate, transparent pricing insights grounded in methodologically rigorous data.

The challenge of accuracy in construction costs

When construction materials pricing falls short, everything breaks down. Settlement delays mount, compliance risks emerge, and disputes drag on when stakeholders can’t agree on fair market value. Accurate pricing intelligence keeps claims moving forward efficiently while protecting all parties with defensible data.

A comprehensive construction cost database built on actual market data

Verisk leads the industry in construction cost research. Our construction cost estimating database is the largest in the industry, featuring millions of vendor-specific items, 300 discontinued items, and 8,000 general quote items. Representing the standard for reliability and consistency, it is built on actual prices and completed transactions occurring daily in more than 460 local markets across the United States and Canada.

Time and materials cost

We gather intelligence from more than 50,000 providers of materials, equipment, and labor, collecting more than 345,000 survey points annually to capture genuine market conditions.

Analyzed damage repair estimates and surveys

We analyze more than 5 million estimates each year, drawing insights from over 13 million data points and examining over 7,300 survey points monthly to identify true market trends.

Contents pricing data

Verisk maintains the industry’s largest contents database, featuring millions of vendor-specific items, 300,000 discontinued items, and 8,000 general quote items for comprehensive coverage.

Built for the entire industry

Our construction cost database serves both sides of the claims process with what each needs most.

For insurance professionals

Defensible intelligence: Research methodology transparency with detailed component review you can stand behind
Independent verification: Random sampling processes to validate pricing information
Comprehensive documentation: Labor productivity assumptions and overhead/markup accounted for and documented in white papers.
Transparent pricing: “Open for inspection” approach allows detailed analysis when questions arise

For contractors and restoration professionals

Market reality: Pricing derived from actual completed jobs and contractor surveys in your specific market area
Real-time integration: 400,000+ daily estimate submissions ensure current data
Economic intelligence: Market conditions adjustments capture supply-demand dynamics
Realistic assumptions: Labor minimums based on restoration environment realities

Advanced analytics that identify market consensus

Our proprietary cluster analysis, developed by economists, identifies genuine market consensus while filtering out statistical anomalies. This means your construction materials pricing reflects true market conditions, not outlier data that skews results and undermines credibility across the claims process.

Responsive when market conditions shift

During disasters when market conditions shift rapidly, we publish updates because claims can't wait for the next monthly cycle.

Geographic precision

Each market area reflects actual local transactions and supplier data—not broad regional averages or factored results that miss true local market conditions.

Our scientific approach to construction cost research prioritizes quality and defensibility

As the industry’s most comprehensive construction cost research provider, we report market conditions with rigor and transparency. Our responsibility is delivering accurate market intelligence that reflects fair value, empowering carriers, adjusters, and contractors with insights into genuine market conditions and your specific business requirements. While others rely on simple polling, factoring, or calendar-driven adjustments, our construction materials pricing intelligence delivers methodologically superior results through rigorous scientific research that provides transparent and defensible data all stakeholders can trust.

Our research-driven methodology

Multi-tiered research with economist-developed cluster analysis
Actual transaction validation from completed jobs
460+ localized markets based on real local data
Quality-driven updates when market analysis indicates change

Competitor methods

Simple market polling and factoring methods
Demographic modeling assumptions
Broad regional averages
Calendar-driven changes regardless of market conditions

A three-phased methodology ensures the data reflects genuine market intelligence

While Verisk updates pricelists monthly, our methodology prioritizes quality over frequency. What matters isn’t how often we update our construction cost database, but how accurate and defensible that data is. Hourly labor rates receive regular monthly updates based on multiple data sources since most items include labor components. Material and equipment components are updated when our market analysis indicates changes are warranted.

Our published construction materials pricing represents reported market prices from recent submissions. While no published price fits every specific situation perfectly, basing pricing intelligence on recently submitted actual costs gives everyone an invaluable tool for creating appropriate repair estimates and a foundation from which all parties can determine whether specific adjustments are warranted.

Phase 1: Comprehensive market research

We analyze market price points from numerous third-party sources and thousands of daily in-field estimates alongside current surveys—actual transaction data from real jobs completed across the industry every day.

Phase 2: Rigorous review and verification

Data integrity checks and systematic organization of collected research ensure accuracy before analysis begins, protecting our construction cost estimating database from errors that could compromise settlements.

Phase 3: Scientific analysis and publication

Cluster analysis on research subsets identifies mid-range market price points. This proprietary process was designed by university-level economists to ensure every published price reflects genuine market conditions rather than statistical anomalies that could undermine settlements.

Help inform our intellgience: How to give pricing feedback in Xactimate®

Market intelligence works best when it flows from all corners of the industry. Whether you’re seeing pricing patterns from carrier data, field experience, or job sites, your insights help us refine our research and ensure our pricing reflects the reality everyone experiences.

Help inform our intellgience: How to give pricing feedback in Xactimate®

Monthly construction cost research insights

We compile our discoveries into a comprehensive monthly report detailing changes in major categories, shifts in lumber markets, fluctuations in gasoline prices, and additional insights specific to the month’s developments. These aren't just data dumps—they're strategic intelligence you can use to anticipate market shifts and position your organization ahead of change.

Read the monthly pricing update

Monthly construction cost research insights

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Related resources

Learn more about Verisk’s Pricing Data Services and how our construction cost research supports faster, fairer claim resolution.

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The power of transparent pricing

Verisk’s market-based pricing intelligence helps insurance and restoration professionals accelerate settlements, defend estimates, and adapt to changing market conditions.Explore how rigorous research and real-world data can help you close claims with confidence.

Download the white paper