Your homeowner’s insurance is there to protect your home and the things and people inside it. So, what happens if there’s a risk that no one knows about? This is why it’s always recommended before buying a home to have a home inspection performed, and why certain insurance providers might ask for a home inspection to be performed as part of the insurance process. Today we’re going to look at the home inspection and homeowners insurance and how the two work together.
What is a Home Inspection?
A home inspection is a survey and report on the overall condition and specific issues of a home, done by a home inspector. These inspections go much deeper than what a buyer or homeowner might see on the surface and include a home’s structure, foundation, electrical systems, plumbing, roof, and more. Generally speaking, a home inspection covers:
- Thorough inspection of attics, basements, and crawl spaces, including insulation, state, and any conditions.
- General condition and state of interior walls, floors, ceiling, windows, window frames, doors, and door frames.
- Foundation: including cracking, seeping, settling, or other warning signs of foundation damage.
- Heating and cooling systems, plumbing systems, and electrical systems and wiring.
- Exterior inspection of roof, siding, structure, and additional buildings or structures.
If you’re getting a home inspection during the home buying process, an inspection might be used to negotiate the price. An insurance company might want it to make sure there aren’t any costly existing issues with the home.
Is a Home Inspection Required for Homeowners Insurance?
Some home insurers will want you to have a home inspection performed on a house before they will give you a policy. This request will depend on several factors or may simply be a requirement for all insurance applicants for the agency. Some factors that might make a home inspection a requirement:
- The Home’s Age: If a home is more than 25 years old, you may be required to get an inspection. This is due to both the complications that arise as a home ages, as well as what construction materials and processes might have been used in its creation.
- Time Since Last Inspection: The longer since the last inspection, the more likely a problem has occurred (or a potential problem highlighted in the last inspection has become one). If it’s been more than 10 years since the last inspection, you may need to get another.
- The 4 Point Inspection: Some insurers might ask for an abbreviated home inspection known as a “4 Point Inspection” that covers four of the most problematic and expensive systems: the roof, the plumbing, the electrical systems, and the HVAC.
Are you curious about getting new homeowners insurance and the requirements of their carriers for the need of home inspections, four-point inspections, appraisals, or other required inspections? It’s time you contacted the TJ Woods Insurance Agency. We’re an independent insurance agency, able to help you find the best policy for your needs among many carriers. Get your free quote today!
