I was looking to buy a house and all 3 insurance companies that I got a quote from asked me how many corners it had. why do they ask this?
Best reply by mbrcatz17:
I have never heard of this, and I’ve represented LOTS of insurance companies.
You could always ask THEM why!
Read the original question on Yahoo! site
why does it matter how many corners a house has when buying house insurance?
Is it possible that they’re trying to determine a shape?
This seems really strange to me. I would probably ask whoever’s quoting me why they needed something like that, just out of curiosity. I’m suprised that all three companies asked such a bizarre question.
NEVER asked that in all the years I have been an agent!
It has to do with reconstruction costs. A builder I know bought my former home and paid a lot for the insurance because his carrier asked this question and the home had a lot of corners.
They use it to estimate cost to rebuild. More corners, higher rebuilding costs.
It is a little hidden question in the new cost estimator program. Well, the question really has to do with shape, square, rectangle, irregular, very irregular.
The more corners a building has, the more expensive it is to rebuild.
We don’t ask, we get measurements from the town & get our own pictures.