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:
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:
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.
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.Continue Reading
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.
Don Westerfeld 10/4/2010 8:51:00 PMContinue Reading