Insurance companies in some areas require a 4 point home inspection when renewing your homeowner’s policy or when purchasing insurance for an older home. It’s possible to get an insurance quote before the inspection but you’ll need to have the inspection completed before the policy is issued. Here are some things to know about a 4 point home inspection.
Why Do I Need a 4 Point Inspection?
Your insurance company needs to know if an older home has been well-maintained. If the four main systems covered in the inspection are working well, then it’s likely the home has been taken care of over the years.
During the 4-point inspection, the following components are inspected:
The home inspector will note the electrical panel’s brand. He or she will examine the overall condition of the entire electrical system, including the outlets and what kind of wiring has been installed.
The plumbing system will be inspected. Notes will be made on the water heater’s condition and age. The inspector will look for leaks and will observe the type of plumbing pipes, including supply and drain lines.
For the 4 point report, the inspector will take a close look at the roof. He or she will check for leaks and damage. The inspector will note the condition of shingles and other roofing materials. The age of the roof and the life expectancy are also part of the report.
Heating and Cooling
Your insurance company will want to know if the home has central heat and air conditioning. The inspector looks at the condition and age of the HVAC system. They will inspect for leaks in the system and test it to make sure it is operating correctly.
4 Point Compared to a Regular Home Inspection
A full home inspection has considerably more information than the 4 point inspection. Your insurance company won’t need the complete list of defects, problems, and safety concerns listed in the full home inspection report. To qualify for homeowners insurance, you’ll only need to provide information on the plumbing, roof, electrical, and HVAC systems.
Results of the Inspection
If your home doesn’t perform well on the 4 point inspection, it won’t have any bearing on how much your homeowner’s insurance costs. The report determines whether or not the home can qualify for coverage, partial coverage, or none at all.
Issues that sometimes cause the insurer to refuse coverage include a damaged roof or roof that needs to be replaced, knob & tube or aluminum wiring, roofing that is showing signs of age, and a home with no central heat or air conditioning.
Some insurance companies will decline your homeowners insurance or will only offer limited coverage on homes with issues. You can do is shop for another insurer, but repairing any problems that the inspection uncovered is the best option to obtain coverage and to keep your home safe.