Difference between Gross Area and Floor Area fields

 

Gross Area and Floor Area are two different fields that are used in two different ways. The main difference between Gross Area and Floor Area is that Gross Area may have an impact on loss estimates while Touchstone does not currently use Floor Area in any loss calculations.

You can think of the Gross Area as "square footage", where it represents the total square footage of the building. This value can have an impact on losses only for the US Hurricane model. The impact of gross area or square footage on the vulnerability applies only to home that are larger than 3,000 sq. ft. in size.

The vulnerability modification and its eventual impact on losses applies to 301, 302, and 303 occupancy classes. Most constructions classes are supported except for 200-series construction types, manufactured homes (construction classes 191-194), and plate glass construction types (construction classes 185-187).

While the modification applies only to Coverage A—because coverage C and D damage functions are a function of coverage A—there will be indirect modifications in coverage C and D losses. By contrast, Touchstone does not currently use the Floor area value for any loss calculations; Floor Area is solely an informational field. The Floor Area represents the area of an individual floor of a building. Where the Gross Area value captures the total area of the building, the Floor Area value captures only the area of an individual floor of a building.

 

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Touchstone 3.0 Updated December 02, 2016