From an Insurance standpoint, when a house qualifies as flat on the WMitt, how does that affect the homeowners rate vs a reported Hip rate?
A house no longer qualifies as Flat.
Only multi unit buildings do.
Hip is the only one that gets discount.
On the old form flat would not even be insured by some companies.
Micael is correct. Single family homes, townhomes, condos,ect that are less than 5 units are either hip or other. Only buildings with 5 or more units can be flat on a Wind Mit.
What they said!
No flat on single family= other