If you are a homeowner simply looking to get home insurance, you may have heard about a 4-point inspection. But what exactly is it, and is it necessary?
A 4-point inspection is a specialized type of home inspection that evaluates four important areas of the property – roofing, HVAC systems, electrical systems, and plumbing connections.
Most insurance providers mandate this inspection to ensure the safety and longevity of the home’s critical elements.
Regular home maintenance is crucial to prevent significant problems from occurring in the future. 4-point inspection can help identify issues early, saving a great deal of money. It can ensure that your home is in top condition and ultimately help to increase its overall value.
Let’s explore more about a 4-point inspection, including what it means, what it covers, how much it costs, how it differs from a full home inspection, and so on.
What Is A 4-Point Inspection?
A 4-point inspection is a comprehensive evaluation of a home’s four major systems- HVAC, electrical, roofing, and plumbing.
While applying for home insurance, a homeowner may often need to submit the right expert inspection report for their property. Generally, this inspection is required for home insurance policies, which determine the system’s integrity and major components.
As a result, this becomes essential to get your home insured by the insurance company, as it can primarily help to identify concealed problems if any with the four mentioned systems.
This inspection is common for older properties, sometimes it is quick and might provide you with additional choices for home insurance. Some insurers require it for houses over 20 or more years old before offering policies to avoid increased liability. The inspector will go over what has to be changed or replaced to address issues if a home fails all or part of the inspection. Such repairs are essential to get insurance.
What Does this Inspection Cover?
A 4-point inspection is a detailed examination of a home’s current health that covers four primary systems: roofing, plumbing, HVAC, and electrical.
It is essential for both the homeowner and insurer to identify potential issues and ensure that the property is up to par with the latest codes and standards.
The roofing section of the inspection covers a review of visible defects in eaves, soffits, shingles, and other roofing materials.
- Plumbing System
This covers examining the age of your water heater, the type and material of the plumbing systems in your house, and any leaks that might be present.
- HVAC System
This includes inspecting the type and presence of heating, ventilation, and air conditioning systems within the home, also considering the age, and condition of these systems, and any indications of leaks or other damages.
- Electrical System
This involves determining the type of wiring, the brand of the main panel, and the general state of the system, including any additional electrical components.
How Much Does it Cost?
The cost of conducting a 4-point inspection can vary from state to state and depends on the insurance company too.
However, you can estimate its cost between $50 and $150, depending on the size and location of the property. You may consider $50 for a lower-end price, $100 for an average cost, and $150 for a higher end.
Your home inspector may also provide you with an inspection at no cost along with your regular home inspection if you are someone buying a house that is old.
A 4-point inspection less than three years old can be used again when you switch insurance companies.
4-Point Inspection Vs. Full Home Inspection
Now, let’s dive into how a 4-point inspection differs from a full home inspection to better understand the concept.
4-point inspections are concentrated assessments that concentrate on four areas such as the electrical system, plumbing, roofing, and HVAC systems of a house. Full home inspections, often known as buyer’s inspections, are thorough examinations covering nearly all of a home’s visible spaces.
- Time Consumed
While a 4-point inspection generally takes about an hour depending on the complexity and size of the property. As obvious, a buyer’s inspection comparatively takes more time as it is a detailed inspection of all the aspects of a house unlike a 4-point inspection, which only checks four things.
Another major difference is that 4-point inspections can be far more common and are typically useful to get insurance. Full home inspections normally take place for the sale of a home. In the case of a full home inspection, the underlying goal of the inspector is to help buyers determine whether to spend on a particular property or not.
A full home inspection is requested by the buyer of a property, while the 4-point inspection is requested by the insurance company for issuing or renewing your home insurance policy.
If Your House Fails A 4-point Inspection, Can You Still Get Insurance?
This is yet an important question whether you will get insurance in case your house fails this inspection. The consequences usually depend on how the insurance companies respond. Also, the way insurance companies respond to problematic houses varies.
While some insurance providers won’t cover these problematic properties at all, others adopt a different strategy. There are insurance providers who provide insurance but don’t cover the unreliable system.
The Final Say
A 4-point inspection for homeowners is a detailed inspection that includes the roofing, HVAC system, electrical and plumbing systems. It is important to perform regular home maintenance to prevent major issues from arising.
Make sure to select a qualified inspector with experience who can carry out this kind of inspection accurately. In the long run, doing your homework beforehand can save you time and money!
You can also seek more information on this from Elite Properties. We are a New York-based real estate company that thoroughly believes in giving top-notch real estate services to its clients. Get in touch now!