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Insurance
companies have become increasingly reluctant to issue Homeowner Insurance
Policies on older homes (usually 30 years old or more).
Why do I need a four point inspection?
Their
common concern is that there may be conditions in an older home that could
become a liability to them. For instance; a home with a roof nearing the end of
its reliable service life may fail while under the policy and the homeowner may
seek reimbursement from their insurance company for damages to the home or its
contents. Similar concerns extend to the condition of the HVAC, electrical and
plumbing systems in an older home. 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 a home.
A "Four Point
Inspection" focuses only on four main areas of interest in a home:
• HVAC
(Heating, Ventilation and Air Conditioning)
• Electrical
wiring and panels
• Plumbing connections and
fixtures
•
Roof
Forms. Are there special forms
? YES ! Some insurance companies in Florida
have forms that may be used for at least one of the four points (Electrical). In
this particular form they have asked about the age, type and certain elements of
the electrical system, which may have high claim ratios. We
exclusively use the approved Citizens Insurance
Inspection Form for all four inspection areas. This helps move the
process along by using a certified home inspector that can do ALL four of the
required inspections at one time.
Who can perform this four point inspection ? Can I
Fill out the paper work myself?
The Florida
Insurance Companies prefer to use licenced and qualified Home Inspectors,
Building Contractors , Engineers, to complete the four point inspection. That
are able to provide a professional opion to the four areas inspected. A home
owner can not fill out the four point inspection form themselfs.
Can I not comply with this
four point inspection type of request?
There have been reports of hardships
maintaining coverage and or acquiring new insurance in Florida due to the four
point inspection. Some Insurance providers will not cover you anymore without
the four point home inspection
Guarantees. Who can
Guarantee the four point inspection forms enable me to be approved for
Insurance?
NONE ! Please be clear that H.P. Certified
Home Inspections LLC . is not employed by Insurance companies, and cannot
guarantee any aspect of the four point inspection, including but not limited to:
INSURABILITY, UNDERWRITING, NEED FOR ADDITIONAL CERTIFICATION OR INSPECTIONS
SUBSEQUENT TO INITIAL INSPECTION, WORK TO BE PERFORMED FOLLOWING INSPECTION,
Etc..
The Four Point
Home Insurance Inspection was created after Hurricane Andrew struck Florida
in 1992. It 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 homeowners insurance policies. This
is an area of business that has, for many years, been a money loser for
insurance companies.
In 2002, the Florida
Legislature passed a law that combined the Florida Residential Property and
Casualty Joint Underwriting Association (FRPCJUA) and the Florida Windstorm
Underwriting Association (FWUA). This resulted in the creation of Citizens
Property Insurance Corporation (Citizens), which more efficiently and
effectively provides insurance to, and serves the needs of, homeowners in
high-risk areas and others who cannot find coverage in the open, private
insurance market. It is funded by premiums paid by the insured and from other
insurance companies paying into the program to reduce their overall
losses.
Four Point Inspections and
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