You would think once your homeowners policy is active, the hard part’s over. But more and more homeowners are finding that’s not the case, whether they’re buying a condo in Miami, FL or a starter home in Detroit, MI. Many insurers are ordering inspections, or even driving by homes, and requiring repairs before they’ll continue or renew coverage.
These days, you might be able to get homeowners insurance without an inspection — at first. But the reality is, most insurance companies require some form of inspection when applying for a policy or even renewing an existing one. Whether that’s done through drone imagery, a drive-by inspection, a 4-point inspection, or even a virtual visit, most policies have an inspection requirement — even if you don’t always see it coming.
Why do insurers usually require a home inspection?
When you apply for homeowners insurance, you’re protecting your home—but your insurer is taking on the financial risk of anything that could go wrong.To manage that risk, a lot of insurance providers require an inspection before finalizing your policy, during the policy period, or if your policy is up for renewal.
Sometimes the insurance company will ask for a copy of your home inspection report to assess risk. Other times, they will conduct their own 4-point inspection, which focuses on your roof, electrical, plumbing, and HVAC. The goal is to understand the age of the home, overall condition, any potential hazards, and how any issues might impact your eligibility for insurance or your premiums.
Assessing risk based on age and condition
A new construction home carries very different risks than one that’s 70 years old. Inspections help insurers understand the overall condition of your property and whether it’s been well-maintained, needs updates, or has issues that could become a claim sooner rather than later.
Identifying potential safety hazards
Homeowners insurance companies…