Independent agents of Mt. Washington Assurance Corporation can now use the Web-based ISO HomeValue to estimate the costs associated with rebuilding structures in the event of a total loss.
Developed by ISO subsidiary AIR Worldwide Corporation, ISO HomeValue is a residential replacement cost estimator that has been directly integrated with Mt. Washington’s Agent Web portal. Mt. Washington will rely on ISO HomeValue to estimate replacement values for underwriting all new homeowner’s policies.
William J. Conner III, president of Mt. Washington said he was “impressed with the system’s technical sophistication and its ease of use.”
ISO HomeValue allows underwriters and independent agents to estimate replacement costs for houses ranging from a two-bedroom bungalow to a 12-bedroom estate. It calculates replacement valuations using the latest component-based technology that accounts for location, size, age, number of stories, construction materials, and exterior and interior finishes, utilizing current local material and labor costs.
Agents can generate an initial replacement value with only a few inputs. Agents can enter more detailed information about the property to refine their estimates.
Based in Concord, N.H., Mt. Washington Assurance Corporation is a member of The Plymouth Rock Group of Companies, which handles more than $1 billion in auto and homeowners insurance across the Northeast.
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