Before making a final offer when buying a home, be sure to cover all of your bases with a reliable and thorough four point inspection. Once a home reaches a certain age, many insurance carriers require a Four-Point Inspection. This more in depth inspection looks into the following 4 components of your home: the roof, plumbing, electrical and HVAC systems. Four-Point Inspection prices are $100.00 in the Tri-County area.
The Four Point Insurance Inspection is performed on behalf of the insurance companies and, typically, as a requirement for the insurer offering insurance to the new homeowner. As insurance companies are beginning to see the benefit of the inspection, the program is spreading to other areas of the country. The benefit to the insurance company is, obviously, reduced loss risk on home owner’s insurance policies. This is an area of business that has, for many years, been a money loser for insurance companies.
The Four Point Insurance Inspection consists of a visual survey of the following four primary components:
- HVAC (Heat, Ventilation & Air Conditioning)
The insurance companies are expecting the condition of the components listed above to be working as intended within the manufacturer’s specifications. The insurance companies are looking for the four systems to be in generally good working condition and fulfilling their intended function. If the home is an older home the insurance companies want to see that the systems have been updated. In most cases, the forms are provided by the insurance companies to their clients. The clients then ask the inspector to fill the form out during the course of the home inspection.
The criteria used to judge the components include:
- Current operating conditions
- Scheduled maintenance requirements
- Expected service life