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Find a better way to calculate LMI #22

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robase opened this issue Jul 23, 2023 · 0 comments
Open
2 tasks

Find a better way to calculate LMI #22

robase opened this issue Jul 23, 2023 · 0 comments

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@robase
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robase commented Jul 23, 2023

The current LMI calculation relies on a lookup table compiled from googling around various websites. I'm not sure if insurance agencies publish their LMI premiums publicly, there seem to be a lot of LMI calculators out there but little info on how they derive their numbers.

To fix:

  • lookup table caps out at house prices >$1m currently
  • avoiding the use of a lookup in favour of an equation would lower the maintenance pain when values change over time
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