Help Pricing/Determining the Value of Trees

[TNTreeHugger]

I'm trying to put together an itemized list of trees damaged on my property.
Some are dead now, some will be next year, and since the cause is an annual event, it's safe to say all will be dead in the not too distant future. My neighbor has very few trees left.
Anyway, for insurance purposes, I need to come up with a realistic number to give the insurance company.

I know from my experience working in a nursery, trees are priced by caliper, height, and size of the root ball.

What sort of method would you use for pricing as the circumference of the tree increases?

Example: A bare root black walnut sells for $12.99.
https://shop.arborday.org/black-walnut

I've seen these and know they are about the diameter of your little finger.
What price would you put on a mature 75' tree with a circumference of about 56" and how would you go about calculating that?
What about a mature pecan twice that circumference?

I have more than 150 trees that I need to price.

Thanks
Sandy

Btw, I'm looking at tree value only, not felling and removal.

 

[TNTreeHugger]

I found this list on a nursery website:

Most Deciduous Trees
2″ caliper = $275+
2.5″ caliper = $325+
3″ caliper = $375+
3.5′ caliper = $425+
4″ caliper = $525+
4.5″ caliper = $575+
5″ caliper = $775+
5.5″ caliper = $875+
6″ caliper = $975+
7-7.5″ caliper = $1125+
8-8.5″ caliper = $1500+
9″ caliper and above = individual quotes

A 4' is about 2x a 2' but an 8' is about 3x a 4'. So there's a maturity factor too it looks like, or maybe that's the added expense of digging and transporting?

Two years ago I took an inventory, but now it looks like I need to get real specific with measurements.

 

[lone wolf]

I found this list on a nursery website:

Most Deciduous Trees
2″ caliper = $275+
2.5″ caliper = $325+
3″ caliper = $375+
3.5′ caliper = $425+
4″ caliper = $525+
4.5″ caliper = $575+
5″ caliper = $775+
5.5″ caliper = $875+
6″ caliper = $975+
7-7.5″ caliper = $1125+
8-8.5″ caliper = $1500+
9″ caliper and above = individual quotes

A 4' is about 2x a 2' but an 8' is about 3x a 4'. So there's a maturity factor too it looks like, or maybe that's the added expense of digging and transporting?

Two years ago I took an inventory, but now it looks like I need to get real specific with measurements.

For all intents and purposes that should work, it's not realistic to replace1 - 2 foot diameter trees. Good luck with all this.

 

[TNTreeHugger]

For all intents and purposes that should work, it's not realistic to replace1 - 2 foot diameter trees. Good luck with all this.

I'm not looking to actually replace all the trees, I just want to know the loss value.

I would think it's like if your car gets totaled. Your ins. company will pay the book value of the lost vehicle. They're not paying for the new replacement.

 

[lone wolf]

I'm not looking to actually replace all the trees, I just want to know the loss value.

I would think it's like if your car gets totaled. Your ins. company will pay the book value of the lost vehicle. They're not paying for the new replacement.

I would hope at least that!

 

[TNTreeHugger]

I would hope at least that!

I suppose I could include the cost of removal, but I don't plan on removing anything - as long as they stand they'll be monuments to what killed them. And I want everyone to know what killed them and to see it.

 

[lone wolf]

I suppose I could include the cost of removal, but I don't plan on removing anything - as long as they stand they'll be monuments to what killed them. And I want everyone to know what killed them and to see it.

Well all costs should be in there they are going to beat you down anyway, the more you have the better. Calculate everything. You should have a right to this so put it on there whether you keep them or not, it’s your business and not their concern, get what you can, you paid for this insurance.

 

[TNTreeHugger]

Well all costs should be in there they are going to beat you down anyway, the more you have the better. Calculate everything. You should have a right to this so put it on there whether you keep them or not, it’s your business and not their concern, get what you can, you paid for this insurance.

Oh, no. The farmers insurance is who I filed the claim with.

 

[TNTreeHugger]

Found this today:

https://treeplantation.com/tree-value-calculator.html

I've got six of those "highly valuable" black walnuts, all forty-footers.

I used this method to calculate height
https://extension.usu.edu/forestry/resources/kids-and-teachers/tree-height

 

[TNTreeHugger]

I'll keep this in mind and mention it to the ins. co. should they give me a hard time
$43,598.77 for one black walnut

https://www.newenglandtreelaw.com/tree-value-calculator

 

[sean donato]

You should be getting quotes from arborists/ nurseries etc. Most times insurance companies won't accept an individuals appraisal of items.

 

[TNTreeHugger]

You should be getting quotes from arborists/ nurseries etc. Most times insurance companies won't accept an individuals appraisal of items.

Do you have personal experience dealing with someone else's insurance company over damage done to trees on your property?

 

[TNTreeHugger]

The formula for calculating the value of a tree is pretty straight forward...I would think arborist, forester, nursery, insurance estimator would use the same standard.

How do I calculate the value of a tree?​

Determining the cost of mature trees is easier than you think! You'll need to:

1. Know the circumference, height, and the type of the tree.
2. Find the basic value, which is a conversion factor based on your tree type. To be found in dedicated tables.
3. Use the equation:
   Tree value = Circumference × Height × Basic value
   where:
   • Circumference is given in inches.
   • Height is given in feet.
   • Tree value is given in dollars.

Tree type	Basic value
Beech	1.06
Black Cherry	2.3
Black Ebony	55.75
Black Locust	1.75
Black Walnut	3.85
Chestnut	3.08
Douglas Fir	1.05
Elm	1.35
Eucalyptus	2.1
Fruit Wood	18.12
Poplar	0.35
Loblolly Pine	0.55
Mahogany	15.16
Paper Birch	0.65
Paulownia	1.85
Red Oak	2.15
Rosewood	11.12
Maple	2.44
Teak	8.88
Cedar	3.15
White Ash	2.58
White Oak	3.53
White Pine	1.85
Yellow Birch	3.18

 

[snobdds]

You should be not being doing the calculation. Just like the guy that just got his corvette totaled should not be the one doing the valuating.

It has to be done through an independent 3rd party. This is basic insurance 101...

 

[TNTreeHugger]

You should be not being doing the calculation. Just like the guy that just got his corvette totaled should not be the one doing the valuating.

It has to be done through an independent 3rd party. This is basic insurance 101...

That may be so, but the insurance company wanted a list, which I provided... along with what I think the trees are worth.
I'm waiting to hear back from them. I have no clue if they will agree with my numbers, or not.

I was very conservative on my count since I have 135 trees and all of them were contaminated and showed/show signs of damage.
I'm just hoping they counter with a decent number and be done with it.

 

[OM617YOTA]

Don't be conservative in your estimate. The insurance company is hoping your own estimate will be lower than theirs, and they'll say "suuuuuuuuuuuuuure we can pay you what you want." If anything, estimate higher. Add 50% or maybe double it. Find the highest retail price you can get for anything comparable to what you've lost, and base your numbers on that, not the lowest price or mid point price.

For an actual contested valuation, no the person receiving the payout doesn't get to decide what everything is worth. Someone will say their totaled 1993 Honda Civic with 400k miles on it is worth $42,000.

 

[snobdds]

That may be so, but the insurance company wanted a list, which I provided... along with what I think the trees are worth.
I'm waiting to hear back from them. I have no clue if they will agree with my numbers, or not.

I was very conservative on my count since I have 135 trees and all of them were contaminated and showed/show signs of damage.
I'm just hoping they counter with a decent number and be done with it.

Get a thrird party to set value...

You have this all backwards. If you are doing it, set the number high, as yota said.

 

[TNTreeHugger]

Don't be conservative in your estimate. The insurance company is hoping your own estimate will be lower than theirs, and they'll say "suuuuuuuuuuuuuure we can pay you what you want." If anything, estimate higher. Add 50% or maybe double it. Find the highest retail price you can get for anything comparable to what you've lost, and base your numbers on that, not the lowest price or mid point price.

For an actual contested valuation, no the person receiving the payout doesn't get to decide what everything is worth. Someone will say their totaled 1993 Honda Civic with 400k miles on it is worth $42,000.

I get what you're saying, and I agree.
The number of trees I listed and the $$ amount I came up with, I'm happy with and I believe is fair for everyone.
The way I look at it, if I had submitted a ridiculously high amount, they wouldn't have taken me seriously, countered with something too low, and then I would have been forced to hire an attorney to get the amount I would have been happy with in the first place.
If they go with what I submitted, even if they are holding back their laughter at how easy they got off, I'll be tickled pink.

 

[TNTreeHugger]

Get a thrird party to set value...

You have this all backwards. If you are doing it, set the number high, as yota said.

I feel it's a very high number.

 

[OM617YOTA]

I get what you're saying, and I agree.
The number of trees I listed and the $$ amount I came up with, I'm happy with and I believe is fair for everyone.
The way I look at it, if I had submitted a ridiculously high amount, they wouldn't have taken me seriously, countered with something too low, and then I would have been forced to hire an attorney to get the amount I would have been happy with in the first place.
If they go with what I submitted, even if they are holding back their laughter at how easy they got off, I'll be tickled pink.

Good luck, ma'am. I think you're giving them too much credit and being too nice.