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| Here is the story.. Both my wife and I work and have own health insurance plans though companies. I planned to switch her to my plan during the open enrollment in August as mine offers better ... |
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I mean..................
Car insurance
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 Health insurance? |
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Right now, she has Blue Cross/Blue Shield and pays $93 a month.
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| Hi - we, and some of our Friends, use a cleaning company. They have recently written saying they will not pay for any breakages their staff may incur. Obviously we can change companies but Is this ... |
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| A serious question now: I am 25, good health, don't smoke, regular exercise ... I'm self employed. I need some form of insurance that will cover me for illness, so I can have private health ... |
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 Health insurance ratings |
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where?
Additional Details
no i would like a insurance on an actual ... |
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| I was injured at work, but I don't think my employer has insurance, What should I do? |
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SanDiego21 | For Home Owner Insurance purposes, is an unfinised basement included in total square footage of the house? |
Are Insurance company underwriters not supposed to include unfinished living areas of the house when determing my total square footage of house for replace cost purposes? My premium went up even though the home inspector from Allstate did not know I had part of my house that is unfinished. I was not home at the time when he did this home based underwriting square footage procedure. |
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mbrcatz
 |
Sort of. An unfinished basement isn't included in the first part of the calculation, but there's a place to add the square footage of the unfinished area.
Insurance doesn't really CARE what the square footage of the hosue is - they care what the REPLACEMENT cost of the house is. The most accurate way to CALCULATE that replacement cost is through the square footage.
So you START with the square footage of the living areas, but add in square footage of unfinished basements, porches, patios, garages, etc. It's just added at a different RATE than the living areas. You ALSO add built ins, like a garage door opener, hot tub, etc.
Ask him to go over the replacment cost calculations with you. Let him show you step by step, how he got the number he got.
Are you upset about the premium going up, or you really think the house is valued too high? Remember, it's COST TO REBUILD. Depending on what area you live in, average cost to rebuild is about $200 per square foot of living space. Most people I talk to, want to insure the house based on MARKET VALUE, not cost to rebuild. But most policies are COST TO REBUILD. And the very few people that have a market value policy, get very, very unhappy at claims time, when a kitchen fire that costs $50,000 to repair gets them $10,000 - the market value of the portion of the kitchen that's damaged. |
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sunset
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Hi San Diego! No, unfinished attics and basements are not included in square footage when determining homeowners policy pricing. |
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Queen B
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most companies will go by finished square footage. this mean it is heated and cooled. for basements, there is a place for them to add that in. talk to your agent on this |
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NY1Krr
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It is not included in the total square footage but when a company is rating a homeowners policy they will ask you if the basement is finished and it will increase the rate. |
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Nate W
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They primarily use the "living area" square footage. The unfinished basement sq. ft. should not cause your premium to sky rocket. Do you have an attached garage? Sometimes they include that as living area, which raises the replacement cost. My guess is that the inspector noticed something else that caused the premium to go up (ie. swimming pool, cedar roof, etc.)
Your agent should have the inspection report and will be able to give you a definitive answer as to why the premium went up. |
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Tony S
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When determining total square footage of a house for insurance and value of a house, the rule of thumb is referred to as living space. Meaning if the area is heated and cooled by the central air and heat system then it is included. If it is not, then the area is not included. |
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Chris B
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No. Finished or unfinished - square footage is only included if the area contains an outside exit (including a window if it is of a certain size).
If you have a bi-level home, then it could be if you have a walk-out exit or large window.
Unliveable areas (hallways, closets, basements, and attic space) are not counted in your home's "square footage".
It's not like an apartment where they try to advertise every inch of carpet. |
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