What’s a 4 Point Inspection?
If your home is 40 years or older you may have heard mention of a “4 Point Inspection” being needed before you will be able to obtain homeowners insurance. Older homes can have many systems that are not acceptable to the standards of insurers today or do not comply with current building and safety regulations. Unless the older home has undergone significant restoration it is probable that many of these dates systems remain in the home.
That’s why it’s critical to have a 4 Point inspection done on the home before closing to make sure that it meets or exceeds the requirements for insurance.
The four point focuses only on four main area of your home.
- HVAC ( Heating, Ventilation and Air Conditioning)
- Electrical Wiring and Panels
- Plumbing connections and fixtures
This main purpose of this report will be to describe to the insurance company the condition and age of these elements.
Why do I need this inspection?
Insurance companies have become increasingly reluctant to issue Homeowners Insurance on older homes – generally homes older than 35 years old.
Their concern is that there may be conditions in an older home that could become a liability to them. For example, a home with a roof nearing the end of its usefulness may fail while under the policy and the homewowner may try to collect for damages to the home or contents.
Similar concerns also extend to the HVAC, electrical and plumbing systems in older homes. 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 the home.
Insurance companies assume newer homes are not subject to these problems as requently as older homes.
What type of form gets filled out?
There is no industry wide standard form for a Four Point Inspection. Some insurance companies provide their own forms; however, most insurance companies will accept forms from companies that perform home inspections provided that they are filled out by qualified individuals.
Who can perform a 4 Point?
Most insurance companies require a licensed electrician, a general, building or residential contractor, a roofing contractor or a certified inspector to complete the 4 Point Inspection and certify the report. We have a couple of local inspectors we can refer you too.
What’s the cost?
In most cases you can get the report done for $100 and we can refer you to soneone who has done them for our customers over the years.