How To Address Rising Fuel Prices

March 9th, 2022 Verisk released an article addressing the impact of rising fuel prices on Xactimate pricing data.

The challenge they are attempting to address in this article and subsequently in their inclusion of the “bid item” code FEE FLSRCHG is to remedy the fast rise in fuel costs that aren’t typically reflected in material and labor costs but once a month.

FEE FLSRCHG helps the contractor recover the additional costs associated with moving labor and materials to and from the job site as well as address the rising costs of materials and overhead associated with the impact fuel is having on project costs.

What will be interesting is to see how things progress in the near term and how the implementation of this bid item is received by carriers.

Let me know your thoughts in the comments below.

You can read the full article here: https://availability.guru/fuel-surcharge