Sometimes we forget that the most important part of our home is not the walls, floors, or even roof – but the people living in it. But no matter how much you love your home, you have to face the reality. Basically, your house needs insurance for fire, theft, and other damages. So, a home inspection helps to protect against expensive and unforeseen problems. A homeowner’s insurance inspection may be required to get covered. Home insurance inspections may be required when homeowners renew their homeowner’s insurance policy or when older homes are being insured. Read on to find out what to expect from a home insurance inspection and how to prepare for the inspection.
What is a home insurance inspection?
A homeowner’s insurance inspection helps the insurance company to determine the home’s replacement cost. It also helps in reviewing if there are any other risks your insurance policy may not cover. Similarly, Inspections help to assess the risks, determine the likelihood that you’ll need to file a claim for damages, and calculate your estimated premium costs. A homeowner’s inspection is a lot more common if you’re shopping for an older home or a home in a locality that’s susceptible to natural disasters, such as hurricanes, earthquakes, or forest fires. A home insurance inspection is different. The home inspection examines the basic structural problems in the household.
For example, in some Gulf Coast areas, homeowners can go through a wind mitigation inspection. The winds mitigation inspection looks at measures in place to mitigate the risk of wind damage. Also, Insurance companies can give discounts on coverage for householders who opt-in for this type of inspection and show that they’ve alleviated this risk.
Homeowner’s insurance inspection coverage
Your home insurance company may visually inspect your home’s exterior. This also enables it to examine the condition of doors, windows, roofing, and other areas of the property. The insurance underwriter will also inspect inside the home for elaborate inspection.
Every inspection is different, however typically the inspector will be inspecting the home on a 4-point inspection. In addition, this inspection focuses on four components of the home: Roof, Plumbing, and Electrical & HVAC
- The condition and age of the roof
- Any exterior hazards that might cause damage or injury, like overhanging trees
- Exterior broken things, such as sidewalks, lights, or separate buildings on the property
- Interior and exterior drain systems
- The condition of the basement
- Plumbing systems
- Electrical system
- Home appliances
- The condition of flooring and walls
- Attic areas and crawl areas
- Anti-theft measures, like a home security system
- Smoke and CO detectors, Chimneys and fireplaces
- The age and condition of the HVAC system
Overall, the goal is to assess each risk and determine the replacement cost of the damaged home.
Preparing for a home insurance inspection
You can prepare in advance for your scheduled homeowner’s insurance inspection. By little self-inspection, you can find any issues that are likely to expose during the inspection.
Home insurance policy check on the home exterior:
- Inspect your roof for any loose or missing shingles.
- Secure gutters and filter out any trash.
- Check the foundation of house for cracks or alternate signs of weakening.
- Inspect chimney for cracks.
- Trim any overhanging tree branches that might be a hazard to roofing or other parts of the home.
- Inspect your doors, and windows for cracks, leaks, and other signs of water damage.
- Look for any hazards, such as a damaged sidewalk that might cause somebody to get injured on the property.
Home insurance policy check on the inside:
- Check your CO and smoke detectors to ensure they’re operating properly.
- Inspect fire extinguisher to ensure its operating properly
- Review fireplace for any issues.
- Inspect doors and windows for termite damage signs.
- Check attic and basement areas forwater damage.
- Review HVAC system and ensure it’s operational.
- Check sinks, showerheads, and toilets for leakage.
- Checkwalls for foundation or roof issues.
What next in case of denied insurance?
If your home insurance inspection indicates serious problems with the property, your insurance company might deny you insurance. In this case, you may have a few options.
- You could make necessary repairs the insurance company suggests as a condition of obtaining insurance.
- If you can’t repair the property, then try for coverage through a company that specializes in high-risk properties. It may mean you will likely pay more for homeowners insurance.
Home insurance without inspection
A home inspection is not always required to get homeowners insurance policy. If your home is old and hasn’t been inspected recently, your insurer might inspect your home. Also, the insurance company wants to determine the risk of an insurance claim shortly. The inspector will check each element and determine its condition—old, new, professionally repaired, or damaged.
Preparing your home for a homeowners insurance inspection is time well spent. The inspection process may be more pleasant if you do the legwork and prepare your property for inspection. While no one can gauge the results of an inspection, you will be less surprised when you prepare well in advance.
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