FAQ ID # 286 - I HAVE A QUESTION REGARDING RATING WITH YEAR BUILT I TRIED 3 DIFFERENT YEARS ON THE SAME NAME INSURED 1980,1982 &1983, AND THE PREMIUM CHANGED UP TO $10,000 i HAVE NEVER SEEN THIS MUCH OF A RATE CHANGE WITH OLDER BUILDING. IS THIS CORRECT? IF SO WHERE CAN I VERIFY THIS IN THE CITIZENS MANUEL?

FAQ ID # 286

Last Update : 2011/11/02
Rating : Not Rated

Question / Issue

I HAVE A QUESTION REGARDING RATING WITH YEAR BUILT I TRIED 3 DIFFERENT YEARS ON THE SAME NAME INSURED 1980,1982 &1983, AND THE PREMIUM CHANGED UP TO $10,000 i HAVE NEVER SEEN THIS MUCH OF A RATE CHANGE WITH OLDER BUILDING. IS THIS CORRECT? IF SO WHERE CAN I VERIFY THIS IN THE CITIZENS MANUEL?

Answer / Solution

This will depend on the building type (the number of stories will determine this) on type II & III if it is built before 2002, then the year is split off in the chart for 1982 and earlier and then 1983 - 2001. The credit factor can be drastically different. The type I buildings (3 stories or less) the year is not split off like this.

You can find the Wind mitigation charts in the Wind manual click here. Then go to pages IX-19 & 20 to veiw the charts.

Direct Link to This FAQ

http://www.itcdataservices.com/support/trfaq/?f=286

Tags

wind mitigation mit year built