when buying home insurance how does the insurance company get the size?
On the policy it has a different square footage than on the paper works when I bought the house (it's less), i was wondering if this is a big deal as it is a 25 square foot difference…where do they get the information? thanks!
Several ways – either you tell them, or they go to your property tax website (more accurate than you telling them) and see what the legal dimensions are, or they go out in person and measure and inspect.
Go outside and measure the outside of your house. If you're underinsured, it will be a BIG DEAL if you have a claim and can't get enough to fix your house. If you're overinsured, you're paying too much.
Sometimes the county tax records are used. Some companies come out and measure for themselves.
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25 square feet is nothing.
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Ussually based on loan amount and personal property.
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most likely, from the tax assessor.
it is not uncommon for a home seller to overstate the size of the property, but since the tax assessor's records are public information, the law says that you've been notified of the correct figures unless your written purchase agreement specifically contains a different figure.
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experience
they double check the plats for your land….possibly something was added to the property the ins.co. doesnt know about…..tell them about the discrepancy and have them adjust……
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When i built my home, the insurance company came and did a walk through, took measurments. I believe that they asess how much it would cost to rebuild by the sq ft. I would call them, and ask them directly.
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Well I know when I write home owner's policies (I work for Allstate) I use a County Auditor's website that gives me square footage, year built, type of siding, roofing, etc It just makes it a lot simpler for me to transfer info from one screen to the next. And 25 square feet won't make a bit of difference.
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Several ways – either you tell them, or they go to your property tax website (more accurate than you telling them) and see what the legal dimensions are, or they go out in person and measure and inspect.
Go outside and measure the outside of your house. If you're underinsured, it will be a BIG DEAL if you have a claim and can't get enough to fix your house. If you're overinsured, you're paying too much.
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agent, 21+ years