What is a 4 Point Inspection?
A 4 Point Inspection is often required when obtaining a new homeowners insurance policy or renewing an existing policy. This 4-point insurance inspection includes a limited scope evaluation of the following four systems:
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Roofing
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Electrical
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Heating-air conditioning
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Plumbing
The focus of the inspection is to determine the approximate age, components, and general condition of these systems. The Insurance company will typically require that the inspections be performed by suitably licensed and qualified persons. Of course, there are many insurance companies and inspection requirements can vary and change at any time. You should consult with your insurance provider concerning any specific requirements.
When you buy an older home in West Florida, Fl. a 4 point survey may be required to get insurance on the property. If you already own an older home, you may hear about a 4 point for the first time when you receive a cancellation notice on your insurance. Insurance companies appear to be using the information on the survey to mitigate losses by not writing policies on homes with outdated major systems.
After Hurricane Andrew in 1992, insurers were looking for a way to reduce their losses. 4 point insurance surveys have increased in popularity as a direct result of the losses incurred in the 2004, 2005 hurricane seasons. Since then, 4 point insurance surveys may be required in homes 25 years or older depending on the guidelines set by individual insurance companies.
In some cases, you may be eligible for discounts on your policy or surcharge waivers. Contact your insurance agent for more information on 4 point insurance inspections.
Wind mitigation surveys can result in substantial savings on the wind portion of your insurance. Call us today for more information. Our inspectors are certified by the My Safe Florida Home program to perform wind mitigation surveys.
Why do I need a 4 point inspection?
Insurance companies have become increasingly reluctant to issue Homeowner Insurance Policies on older homes (usually 25 years old or more). Their common concern is that there may be conditions in an older home that could become a liability to them. For instance; a home with a roof nearing the end of its reliable service life may fail while under the policy and the homeowner may seek reimbursement from their insurance company for damages to the home or its contents. Similar concerns extend to the condition of the HVAC, electrical and plumbing systems in an older home. If these elements are in poor condition, in need of being updated or replaced or were improperly installed, they may fail and cause fire or water damage to a home.
Newer homes are assumed (by the insurance companies) to not have these problems as frequently as older homes.
(Air quality testing too.) 