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Total Loss on Homeowners? How many?


Super Genius
Hi everyone. I can't seem to find this stat anywhere - what % of homeowner's claims turn out to be a total loss; i.e, a smoking hole where the house used to be? Any suggestions? Thanks !
If you are thinking in a similar way as auto loss, you would be looking for how many home losses have greater cost to repair than Market value.
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More like "greater cost to repair than Dwelling limit".
And that is exactly my point with the question. Auto Total Loss is easy to understand. Home Total Loss???

Lots and Lots of properties are underinsured. Either intentionally or otherwise. Some properties are overinsured. Even defining a Total Loss as "more than the dwelling limits" has challenges.

Al3x's photo is super helpful -but how do you translate that into a national database? Perhaps Al takes photos of everyone?

Agreed Market Value means nothing.

@kpbdy99 -sorry to derail your question a bit.