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What you must know about Home Inspections

Most people only think of getting a home inspection when purchasing a home, and while that is the most common reason for getting one, it’s not the only reason. Home inspections serve many purposes. Some inspections are required when closing on a home, some are necessary to purchase home insurance, and others help you get appropriate discounts on your home insurance.

Below are the three most common home inspections:

• Standard Home Inspection
• Wind Mitigation Inspection
• Four-Point Inspection

When buying a home, the closing cost typically includes a “Standard Home Inspection” fee. This inspection is required to ensure the house’s condition meets the requirements. It also protects the buyer from purchasing a home with existing damage.

A “Wind Mitigation Inspection” is different, and most people are not familiar with this inspection. This inspection is completed on your roof and gives the insurance companies information regarding the type of roof, age, and tie-downs you have. If certain roof features qualify for the wind mitigation discount, you could see significant savings in your homeowner premium. Most discounts apply to roof coverings that were installed before 2003.

Below is a list of information that is provided in this inspection:

• How the trusses are attached to the walls of your home… i.e., Toe nailed, clips, single strap, double strap
• Size of nails that are used and far they are spaced on each shingle
• Shape of roof
• Shutters and missile-tested window ratings

The third type of inspection is a “Four-Point Inspection.” This inspection is often required to obtain homeowners insurance for older homes.

Below are the four areas of your home that are inspected.

• Roof (not the same as wind mitigation inspection)
• Electrical System
• Plumbing System
• A/C and Heating System

Every insurance company is different, and requirements change, so contact your agent to ensure a Four-Point is not required.

These inspections usually cost anywhere from $85-$125, and most inspectors can do all of the above inspections, most times for half the cost if the inspections are combined. Please do not hesitate to contact our agency for a better understanding of these inspections.

What Are Wind Mitigation inspection Discount?

With home insurance costs rising and changes made to wind mitigation discounts, it’s essential to talk with an agent who understands them.

Before you pay for an inspection, you should see if you qualify for the newly revised wind mitigation discounts.

Questions you should ask your agent:

• Do I qualify for any wind mitigation discounts?
• Is it worth it for me to get a wind mitigation inspection?
• Which inspection company should I use?
• Can I have my local handyman do the inspection?
• Do you offer a guarantee if I don’t qualify for the discount?
• What is a hip roof?

More information on wind mitigation inspections.

Don Westerfeld 10/4/2010 8:51:00 PM