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Do I Need A Home Inspection Before I Get Home Insurance?

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April 27, 2022

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Do I Need A Home Inspection Before I Get Home Insurance?

Before I get home insurance, do I need a home inspection? If the home is over 25 years old, the higher the possibility is that your insurance provider will request an inspection before they underwrite a policy. If the home is newer, insurance companies may only require an appraisal.

What’s the difference? Home appraisals will emphasize the property’s value, but home inspections determine how much insurance risk the property is.

Is a Home Inspection Needed?

A home inspection is ultimately up to your homeowner insurance provider, but no rule or law says your home must be inspected before buying home insurance. Now, let’s say, for instance, that the home is new or the previous owner had an inspection done with the same homeowner’s insurance provider. If this is the case, the insurance company will most likely see that your home is fine and the inspection process is not needed.

However, keep in mind that a home insurance inspection differs from a home inspection required by your mortgage lender before closing on a home.  A home buyer’s inspection is also not required by law, but it’s important because it can help show damages and allow you to negotiate a lower price if needed.

What If I Don’t Pass My Home Inspection?

If the homeowner’s insurance inspection fails, you will most likely have to fix every damage to your house that makes it uninsurable. Your home insurance provider may still give you a policy, but only if you make certain repairs or renovations within a specific time, generally around 30 days. If the property is too old for insurers to want to insure, you may need to get insured through companies specializing in high-risk properties.

4-Point Home Inspection

A 4-point home inspection is typically required if the home is over 25 years old or has a history of repairs. This inspection hones in on specific parts, such as:

  • Heating & Cooling Equipment (HVAC)
  • Roof
  • Plumbing
  • Electrical

You need to upgrade these 4 points continuously through repairs or a complete replacement, which home insurance companies view as high-risk. Consequently, this can result in the rejection of your application, or you have to pay a higher premium.

Reach Out to Us Today for More Information!

To learn more about home insurance policies and to choose the best one, contact Magnolia Insurance Agency today or call 770-203-5171 to speak with an experienced insurance agent.

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Contact Us Today – 770-213-5171

Stephen Dufour
Owner, Magnolia Insurance Agency
Office: 770-213-5171
Fax: 770-338-6932

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