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FREQUENTLY ASKED QUESTIONS

1. What are "total component" valuations?

"Total component" estimating values a home the way it was built - from the ground up.  It uses formulas and databases to analyze and select detailed component parts of homes to assemble estimates in a risk-specific manner, using National building codes, structural considerations and local labour and material costs. As a result, the "total component" method produces individualized and specific data to calculate better replacement costs unique to each home. RCT EvaluRater is based on the proven total component estimating methodology rather than on the outdated, subjective "model" method. For more information about the total component valuation method, you can request our bulletin "Focus: Total Component Estimating" by calling 1.800.661.3619.

2. What are the main differences between Residential EvaluRater and RCT EvaluRater in terms of functionality and values generated?

3. Is there a need to change from EvaluRater to RCT EvaluRater?

Yes. The system architecture in EvaluRater is square foot-based or model-based.  Its rules and formulas were designed to be general and non-specific, originally created for paper guides. Years ago, this method was the best. However, the EvaluRater cannot support the kinds of detail it requires to create component-based ITV valuations for insureds. RCT EvaluRater uses superior component methodology that strongly supports the industry's ITV initiatives.

RCT EvaluRater provides:

• Accurate component based calculations that improve ITV initiatives and protect policyholders.
• Automatic data entry edits to help brokers prepare accurate valuations easily.
• Speed of entry saves brokers valuable time.
• Greater building component detail to enable brokers to define each risk properly.
• Minimized rating subjectivity to eliminate guessing and provide more credible, defendable valuations.

CLIENT INFORMATION TAB

No. You only need to enter data in all the blue fields. You can use the F5 key to easily navigate directly to the required fields. Of course, the more fields you fill in, the more accurate and complete your valuation report will be.

2. I’m working on a multi-family home. How do I account for all of the kitchens and bathrooms?

Simply enter the number of families in the # of Families Field. RCT EvaluRater will automatically calculate one kitchen per family, however, you must count and enter each bathroom in the home, even bathrooms in the basement.

PROPERTY TAB

1. What is a Wing?

A wing is defined as a significant structure of 350 square feet or more which is a different storey height than the main dwelling. The home can have up to 2 wings. 

2. What does Total Living Area mean?

Total living area is the measurement (sq. ft.) of the home above grade. Total living area does NOT include the basement.

3. I'm estimating a 2-storey home. If I enter the Total Living Area for both floors and then enter “2” for the number of stories, won’t the system double the living area?

No. The RCT EvaluRater system does not multiply total living area by the number of stories.

4. I know that Total Living Area does not include basements. How do I calculate the value of the Basement?

If the home has a full basement, enter 100% in the % Basement Field. However, if the basement is a combination of partial basement, partial slab, partial crawl space, etc., enter the appropriate percentage of each component that forms the substructure. The component percentages must total 100%. 

5. What is a Daylight Basement?

A daylight basement is normally built on a sloping site where the foundation walls are partially exposed to allow for the installation of windows and a door. The exposed portion of the basement wall typically includes an exterior finish on the exterior of standard concrete or masonry wall construction.

6. How does RCT EvaluRater define a Pier Foundation?

Pier foundations are defined as concrete caissons for homes built on a seashore or similar area. Pier foundations are commonly found in homes in Nova Scotia, Newfoundland and British Columbia. Simple concrete block piers commonly used in cottages are not considered Pier foundations.

7. How do I estimate a Bi-Level home?

Enter total living area for both levels in the Total Living Area Field.  Then, enter 100% in the % Slab Field.

8. How do I value a Duplex or Triplex?

Simply enter a 2 or 3, respectively, in the # Families Field.

9. Occasionally, I'll encounter a home with a side, back or front split-level.  Can I estimate these in RCT EvaluRater?

Yes.  It’s easy to calculate values for split-level homes.

For a 3-level home, select Tri-Level in the # Stories Field, then enter 100% in the % Slab Field.  If only a portion of the home sits on a slab, then enter the appropriate percentages for additional types of foundations.  (Example:  50% Crawl Space and 50% Slab).

For a 4-level home, select Tri-Level in the # Stories Field, then enter 50% Basement and 50% Crawl Space or Slab.

For a 5-level home, select Tri-Level in the # Stories Field, and enter 100% Basement.

EXTERIOR TAB 

1. My client's home has several Porches and Balconies?  How can I include those in the evaluation?

Under Attached Structures enter the combined total area in square feet for each Attached Structure category.

2.   How can I calculate a Semi-Detached Bi-Level or Tri-Level?

Calculate a semi-detached Bi-Level or Tri-Level by entering 80% of the Exterior Walls under the Exterior Tab.  With the mid-year 2003 update of the RCT EvaluRater the semi-detached function for these two styles will also be implemented electronically.

3. Sometimes I need to estimate homes with Basement Garages and 1/4, 1/2, and 3/4 Built-In Garages.  Can RCT EvaluRater estimate these?

RCT EvaluRater considers 1/2 or less Built-In Garages as “Attached”. Simply enter the appropriate count in the Attached Garage Field under Attached Structures.

3/4 Built-In Garages are considered to be "Fully Built-In". 

Because a Basement Garage is considered unfinished basement, adjust the basement finish percentage on the Property Tab in the % Basement Finished Field by the unfinished portion represented by the garage.

INTERIOR TAB

1. Is it necessary to include all Bathrooms?

Yes. To create an accurate valuation, you must count and enter the total number of bathrooms in the home, even in the basement, in the Bathrooms Field.

2. What is an Ensuite?

An ensuite is a bathroom with 4 or more fixtures.

3. What is a Full Bath?

A full bath is a bathroom with 3 fixtures.

4. What is a Half Bath?

A half bath is a bathroom with 2 fixtures.

5.  My client’s Bi-Level has unfinished areas.  How do I account for that?

You can adjust for unfinished areas by entering the correct percentage of finishes in the Interior Tab of the system.

ADDITIONAL FEATURES TAB

1.   What is the Additional Features Field used for?  

Use the five lines in the Additional Features Field to enter descriptions and prices of unique items that are not included in the RCT EvaluRater system.  The cost of the entered component will be added to the building value and will appear with a description on the Worksheet printout.

2. What is a Central Burglar Alarm System?

A centrally controlled burglar alarm with an alarm bell or auto-phone call attachment, connected to the exterior doors and windows of the home.  Enter the percentage of the total floor area of the home protected by a burglar alarm system.

3. What is a Central Fire Alarm System?

A centrally controlled, hard-wired fire/smoke system with an alarm bell or auto-phone call attachment.  Do not use this item for individual battery-powered smoke detectors.  Enter the percentage of the total floor area of the home served by a central fire alarm system.

PRINTING

1.   Why does the printout not have the dollar ($) amounts beside each item selected?

With the RCT EvaluRater, the values do not print beside the items.  The items selected are listed, but dollar amounts are not available because they vary based on the home.

2.   Why can’t we print a blank of the worksheet and use it as a data collection form on the road?

The blank worksheet is not currently available on the RCT EvaluRater software.