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Building area is more than the actual figure of my house in the insurance system

  • Last Updated:
  • Apr 10th, 2019 4:38 am
[OP]
Newbie
Oct 17, 2017
4 posts
3 upvotes

Building area is more than the actual figure of my house in the insurance system

Hi folks,

I tried to get a home insurance quote from an agent today. She was telling me that when she plugged in my home address in their system, it is showing a building area which is like 200 sq ft. more than the actual number of my house. I have never done any additional or renovation in my house since I moved in. She told me it is the figure in the system, which is probably a central system for all insurance company. I have checked the "aboutmyproperty" website with my address and it is showing the correct figure.

Has anyone come across this? Where can I have it corrected?

Thanks!
8 replies
Deal Addict
Jan 19, 2008
1188 posts
721 upvotes
Etobicoke
would it even make a difference in the premium ? Probably not.
[OP]
Newbie
Oct 17, 2017
4 posts
3 upvotes
After checking all my old emails, I did find out I had requested my current insurance company to correct it in 2012. Probably the information was pulled from another data base which still has the old information. It is in fact over by 300 sq. ft. I know the new building cost has increased by more than $200K. There is no point to over-coverage.
Deal Addict
Apr 6, 2008
1801 posts
1124 upvotes
Sometimes it's a matter of getting a bunch of details from you, number of bedrooms, bathrooms, house style, size of garage, finishes etc and they "draw up" a virtual home to determine what they are insuring. The better companies usually just pull you up on Google maps and confirm if that is you. No real harm in insuring a slightly bigger property just watch the replacement value as if it's way out of whack it doesn't make sense. Don't forget the replacement cost is building only, not your entire property. If the place burns down the land is still there and is often the most expensive part.
Deal Addict
User avatar
Aug 5, 2003
2236 posts
206 upvotes
North York
eaglecan wrote:
Mar 21st, 2019 10:05 pm
It is in fact over by 300 sq. ft. I know the new building cost has increased by more than $200K. There is no point to over-coverage.
Dude, no one will use a rebuild cost of $666/sqft for you extra 300sqft of living space. That's not realistic, and won't be competitive in the marketplace.

Shop insurance companies, no one is forcing you to stay with the same place.
Deal Expert
Aug 22, 2011
29492 posts
15339 upvotes
Ottawa
Are you in ON?
What did MPAC assess it at?
Deal Addict
User avatar
Sep 9, 2012
3530 posts
2789 upvotes
Oakville, ON
eaglecan wrote:
Mar 21st, 2019 7:42 pm
Hi folks,

I tried to get a home insurance quote from an agent today. She was telling me that when she plugged in my home address in their system, it is showing a building area which is like 200 sq ft. more than the actual number of my house. I have never done any additional or renovation in my house since I moved in. She told me it is the figure in the system, which is probably a central system for all insurance company. I have checked the "aboutmyproperty" website with my address and it is showing the correct figure.

Has anyone come across this? Where can I have it corrected?

Thanks!
“Building Area” and “Living Area” are two different terms for different purposes. If you’re looking as the sq ft of living space inside your house then that will be less than the total building area. Living Area is just based on the sum of the area for each room and doesn’t include things like porches, verandas, or attached garages.

So step #1 here is to start by confirming what definition the insurance company uses and compare that to the source that you’re using for the smaller area.
[OP]
Newbie
Oct 17, 2017
4 posts
3 upvotes
vkizzle wrote:
Mar 27th, 2019 2:49 pm
Are you in ON?
What did MPAC assess it at?
Yes, and MPAC showing the correct figure.

I ended up staying with my current broker but changed insurance company and save quite a bit. Thanks everyone for you input!
Deal Addict
User avatar
Aug 12, 2007
3799 posts
547 upvotes
Waterloo
CanadianLurker wrote:
Mar 27th, 2019 8:12 pm
“Building Area” and “Living Area” are two different terms for different purposes. If you’re looking as the sq ft of living space inside your house then that will be less than the total building area. Living Area is just based on the sum of the area for each room and doesn’t include things like porches, verandas, or attached garages.

So step #1 here is to start by confirming what definition the insurance company uses and compare that to the source that you’re using for the smaller area.
+1

as an example when you buy a property , it doesnt list the basement area. However if the basement is finished , the insurance would have to account for the build up.
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