Do You Need To Get An Inspection To Get Insurance In Florida?

If you just purchased a property, you’re most likely thinking about insurance. The main question here is do you need an insurance inspection to qualify for a standard policy?

Unfortunately, answering the question in one sentence is a bit tricky because there are different factors insurers will look for when determining if your home needs an inspection.

In today’s article, we’ll dive deeper into these requirements and the process of insurance inspection in general.

Let’s go!

In Which Circumstances Will the insurer Require an Inspection?

Insurance companies asking for an inspection is not a rule by any means, but many prefer it as that helps them determine the amount of coverage needed.

This is especially important for homes that haven’t been inspected for a while or are simply old. An insurance inspection is a way for the insurance company to gauge potential risks such as outdated electrical wiring or defective roofs.

In short, here are some of the factors that will determine whether an inspection is necessary:

●   The home is more than 25 years old

●   The home hasn’t been inspected in 10 years

●   It’s located in an area prone to natural disasters

Is an Insurance Inspection The Same as a Regular Home Inspection?

Although similar on the surface, an insurance inspection (more commonly referred to as a four point’s inspection) is different from a regular home inspection you may schedule before purchasing a property.

The key difference between the two is their purpose. A regular inspection helps the buyer or the seller gain a better understanding of the overall condition of the home, while a four point’s inspection is designed to evaluate only the condition of the property as it pertains to the insurance policy and the risk involved in ensuring the property.

Can an Appraisal be used for an Insurance policy?

Depending on the circumstances, the insurance company may accept the appraisal report when issuing a policy. Again, this also varies between each insurer because an appraisal is a valuation of the property and four point inspection is an actual inspection of the four key elements of the home (Roof, HVAC, Electrical and Plumbing).

An appraisal is required when applying for, or refinancing a mortgage. A Four Point is an assessment of the condition of the Roof, HVAC, Electrical, and Plumbing to make sure the home meets minimum requirements so it minimizes risk for the insurance company.

What Does a Four Point Inspection Include?

As we stated earlier, a four point insurance inspection is a visual inspection of a property required for purchasing a homeowners insurance policy. It’s typically required for homes over 25 years old and it allows insurers to determine how much risk they’re taking by offering an insurance policy.

For instance, an inspector may note that the plumbing system, despite being old is in perfect condition. The insurer will factor this information into the rate they offer you. On the other end of the spectrum, if there is a leak that’s damaging your basement ceiling, the insurer won’t issue a policy until you make the necessary repairs first.

 As the name suggests a four point inspection focuses on the following areas of a property:

●   Roof

●  Electrical

●  Plumbing

●  HVAC

Why These Systems Specifically?

In short, they have a finite lifespan, and if the home is old and hasn’t been renovated in a while it’s a clear red flag for the insurance company and they’ll probably deem the house too risky.

Keep in mind that while detailed, an insurance inspection may not go into details about repairs. For example, if the inspector determines that the HVAC system is underperforming and needs to be repaired, you’ll have to hire an HVAC technician to identify which upgrades and repairs you need to make the insurer happy.

Can you use a four point inspection as a replacement for a regular home inspection to save a bit of money?

No, as the insurance inspection is not comprehensive enough it won’t be able to evaluate all the risks of purchasing a home.

The Most Common Reasons Why Homes Fail Four Point Inspections

While every home is different, as a company performing four point inspections, some problems occur a lot more frequently than others.

For instance, it’s common for homes to fail an inspection due to leaking roofs. Most roof problems develop over time, and if the home was never renovated, broken tiles and shingles, or water spots, are to be expected.

Similarly, many homes we inspected have electrical problems, including defective electrical boxes, unprotected cables, double-tapped breakers, and so on.

The plumbing system is also not without its issues, and we often find plumbing leaks, mold, corroded piping, etc.

What To Do If You Fail an Insurance Inspection

Failing an inspection is not the end of the world. Many homeowners are concerned that a failure will render them unable to purchase a policy, but this isn’t the case. You’ll have 30 to 60 days to address the issues and if you don’t make it on time, you can simply go to another insurance company.

Since insurers don’t share their data, being denied by one company doesn’t affect your standing with another provider. It’s worth noting though that if you didn’t address the issues in the inspection report, the other company may also deny you.

Schedule The Best Four Point Inspection

Weather conditions in Florida are extreme which unfortunately means that homes (and more precisely roofs) are exposed to a lot of stress. Because of this, insurers are often strict on their requirements and are very wary of providing good rates for older homes.

Since a four point inspection is a necessary evil, you should work with someone who can make the process smooth.

Here at Certified Inspectors, Boca Raton FL you’re working with professionals of the highest caliber, integrity, years of experience, and unmatched customer service - all that at reasonable prices.

Schedule a four point inspection by calling +1 561-570-6311 or filling out our contact form - and we’ll be happy to assist you.