Monday, February 11, 2013

Homeowner Insurance And Four Point Inspection

Some insurance companies no longer provide coverage within the state at all, while others are becoming ever more selective over whom they do (and sometimes don't) insure.

Obviously you don't want to run the risk of having your home uninsured, and a four point inspection will undoubtedly help you secure a homeowners insurance policy. In fact several insurance companies demand that a property, has had a recent four-point inspection before they insure it, and it's not beyond the realms of possibility that a four-point inspection will become mandatory for buyers or homeowners to get new insurance policies or renew existing policies in the near future.

The four point inspection is, as it's name suggests, an inspection focusing on four distinct areas of a property, namely; the heating ventilation and air conditioning (HVAC) system; the roof; the plumbing system; and the electrical system and wiring. Relatively inexpensive (typical costs are anywhere form $60 to $100) the four point inspection is carried out by a licensed inspector from a professional inspection specialist company. Building contractors and electrical service providers also offer four point inspections, but some people think that there is a conflict of interest in having a ‘builder' inspect for ‘work to be done', and prefer to use an unbiased inspection company who solely provide professional inspections.

During a four point inspection the air conditioning system is checked to see if it is functioning well with good ventilator balance, is in good condition and correctly installed. The system's age, life expectancy and any potential service issues are also noted. The roof is inspected for installation, current condition and any obvious damage, kinds of construction materials used, notes are made of any termite erosion, or overhead hazards such as tree limbs, and the roof's age is also taken into consideration.

The four point inspection also checks the plumbing system for condition and efficiency, installation and connectivity to appliances. Any leaks are noted as is the life expectancy and the age of the system. Finally the electrical system is inspected for its condition, age and ongoing life expectancy, the service loading and any changes or additions from remodels.

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