Homeowners insurance protects your home and property against covered losses. Whether you are buying a new home or already own a home, homeowners insurance is an important protection. Depending on the requirements of your insurance provider, you may be required to have a home inspection before purchasing a homeowners insurance policy. This will depend on the age of your home and when it was last inspected.
If your insurance company determines that a home inspection is needed before you can purchase a homeowners insurance policy, the insurer will likely send a home inspector to your home. The home inspector will be looking to make sure all the information included in your homeowners insurance application is accurate. He’ll also check for any issues and if your home is at risk in any way for damages. Looking at your home and performing a thorough inspection gives the adjuster an idea of how much it would cost to replace it or repair the damages.
If your home doesn’t meet the insurance company’s requirements, they may not offer you a policy, although the company may agree to offer you coverage if you repair any issue discovered during a home inspection within a specified time, usually 30 to 90 days. Some items the insurance provider may want you to remedy before writing your insurance policy are things like trimming overhanging tree branches above the home or repairing a leaking roof. If your home needs repairs, the insurer may still offer coverage but charge you a higher premium.
What inspectors look for during a home inspection
If your home’s age is 25 years or older, the inspector will likely perform what is called a 4-point inspection. This inspection will review maintenance or repair issues with the home’s major systems. Areas the inspection will focus on include electrical, plumbing, HVAC, and your home’s roof. These are areas of the home that are most likely to need repairs or updating. Things like faulty wiring and outdated plumbing can lead to expensive repairs and are things that the insurance company wants to avoid.
If you are buying a home, it may be a good idea to get a home inspection completed so you can take care of any needed repairs which will make purchasing a homeowner insurance policy much easier. If you already own a home, you can take some steps to make sure you pass a home inspection such as trimming overgrown tree branches, making sure you have operational fire alarms, taking care of plumbing and electrical problems, repairing minor roof damage, and cleaning out the gutters.
If you’re ready to schedule your home inspection, please give us a call at (774) 200-0519. We’ll be happy to assist you.
