Rule Change and System Enhancements for Mobile Home Valuations
Juni 29, 2017
- Beginning July 1, 2017, agents can use a new feature called Calculate ACV, which provides an option to improve the valuation for all attached structures:
- Select Calculate ACV on the Results page.
- Select Effective Age, and enter the estimated age of the structure(s). Agents may have to enter the average age if multiple attached structures have varying ages.
- Choose the applicable option from the Condition drop-down list:
Figure 1: Effective Age field and Condition drop-down list on the Calculate Actual Cash Value screen
Note: Agents must upload photos supporting changes to the age and condition for attached structure(s).
- Beginning July 1, 2017, 360Value will depreciate only the cost of materials for attached structures instead of the total cost of the structures. Agents can apply this change to existing policies or quotes by recalculating the estimated value.
- Complete the User Defined Feature fields in the Additional Structures section for recent renovations and upgrades and recently added attached structures. Log into the Agents site, and refer to the Cost Estimator Reference Guide for details.
- Reminder: Agents can use the Mobile Home Manufacturer and Model (Trade Name) fields instead of the Supplemental Value Section. For more information, see the April 21, 2017, Personal Lines Bulletin.
- Training → Personal Lines page for:
- Personal pages for:
- PR-M Mobile Homeowners and Mobile Home Dwelling manuals
- PR-W Mobile Homeowners Wind and Mobile Home Dwelling Wind manuals
Agent Bulletins are provided for historical purposes only and have not been updated to include any changes that may have been made after publication. Agents can find the latest information by reviewing the applicable underwriting manuals and by logging in, then selecting Search → Search Frequently Asked Questions.