If you are buying a house, be honest with your insurance agent if you are moving into the home right after the closing or if you are planning to remodel the home. Both situations can be addressed by our agency but it is always best to take this into consideration while setting up the policy.
The insurance company can cancel a policy for misrepresentation if there is major remodeling and/or you have not moved into the property. Honesty is always the best policy.
· 4 Point Inspection – 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.
· Wind Mitigation Inspection – Generally, a wind mitigation inspection is needed to determine which credits apply to a home. During a wind mitigation inspection, a certified inspector looks for key features and add-ons that reduce the amount of damage your home may suffer in the event of a hurricane or strong windstorm. The State of Florida requires insurance companies to offer discounts for protecting your home against damage caused by windstorms. These discounts are known as Wind Mitigation Credits and are offered after a certified inspection is done to your home.
· Home Inspection – An appraisal isn’t a substitute for a professional home inspection in fact they have some key differences. The appraiser formulates an opinion of the property’s value for the lender, while the inspector educates the buyer about the condition of the home and its major components. An Excellent home inspection should identify the general condition of the home and identify any major problems that could adversely affect the habitability of the home you are purchasing
Other benefits of a home insurance inspection can be that discounts are identified by the inspector that the customer was not aware. For example, some customers with central fire and burglar alarms do not realize their system also has a low temperature sensor. This may prompt an additional discount.
When the home inspection is complete, it is sent to the home insurance company. An underwriter reviews accurate building coverage and also outlines concerns that need to be addressed with the homeowner, and forwarded to the agent. The agent communicates any changes or concerns to the customer.
Having your home inspected really helps to keep the cost of insurance down. Companies that conduct thorough inspections get discounted rates on reinsurance which this is passed along to customers. (Reinsurance is the insurance that companies buy to protect the company from large individual losses or many catastrophic losses.)
The home insurance inspection can be a simple process that provides peace of mind that your home is insured properly first, and that avoidable losses can be avoided by recognizing risk through the eyes of a professional.
Call now to have your home inspection done and start saving money!