You will need to have a 4-point inspection of your home before you are able to purchase homeowners insurance.
Because they permit insurance companies to inspect homes before they insure them, four-point inspections are now a standard practice in the industry. This helps reduce risk for all involved.
These important 4-point inspections can help you spot any faulty construction practices. Homes built in 1950s had breakers, which have been revolutionized over the years and almost re-invented.
These systems lack safety precautions and it would be difficult to find a builder that stands behind them today. Insurance companies are interested in knowing if homes still use these systems or similar construction methods that have been phased-out over time.
Why? These homes are more risky to insure due to the many claims that can often follow. What should you expect from a home inspection with four points? This article will provide all the information you need.
What to Expect from a 4-Point Inspection of Your Home for Insurance
A 4-point home inspection covers four important parts of your house, as you probably guessed. These four important and costly parts are what are responsible for the highest number of home insurance claims each year.
A 4-point inspection of a home is only possible if all parts are visible to the naked eye. Inspectors can quickly determine how well the home has been maintained by looking at the visible components of each system.
1. Heating, Ventilation and Air Conditioning (HVAC), System
Inspectors and insurance companies will want to know the condition and age of your HVAC system. Are the parts worn out or are they still in good condition? Are you able to have central heat and air conditioning in your home? Are there signs that the system is leaking?
Insurance companies will find this information useful because it tells the story of home insurance claims. There are more chances for mistakes and claims the older the system.
2. Electrical
Old electrical wiring can cause serious damage to your home. Home insurance companies will want to know if your home has an outdated knob-and tube wiring system. This was popularized in 1940.
Aluminum wiring, which was a popular method of connecting homes in the 1960s and 1970s, was deemed too dangerous for homes and has been removed from construction.
These electrical systems can increase the risk of your home being damaged in an insurance claim. An inspection of all four points includes the condition of electrical panels as well as the overall system.
3. Plumbing
Apart from performing plumbing inspections at your home at least once a year, a 4-point inspection will look at the type of drain and supply lines in your system. (Whether it uses copper or galvanized, lead or polybutylene, or any other material).
The inspector will inspect the hot water heater’s condition and the visible pipes. Although you can inspect your hot water heater yourself, it will not be enough to provide a 4-point inspection to your home.
4. Roof
The condition of your roof is last but not least on the 4-point checklist of inspection checklist professionals. It’s one of the most important items in the checklist, as it can cost thousands to replace a roof.
Before they will insure your home, insurance companies want to know about the condition and age of your roof. They will want to know whether shingles are missing and what type of shingles they have.
What is the Lifespan of a 4-Point Inspection?
The question of relevancy is almost irrelevant because homeowners insurance for older homes requires a 4-point inspection. It is important to complete the inspection quickly and provide supporting documentation to your potential homeowner insurance provider.
What is the Cost of a 4-Point Inspection?
It all depends on where you live and how big your home is. A typical home inspection costs between $50-$200. For a deeper discount, many companies offer bundles that include both wind mitigation and 4-point inspections.
A standard home inspection might be sufficient in some cases, but it is always better to hire a professional to conduct a 4 point inspection in tampa of your home. This is the easiest and most universal method to have your home properly inspected.
