What Kind of Home Inspection Do I Need?

Your home inspector is one of the most important people you’ll work with during your home-buying process.  He (or she) is the person who identifies your home’s strengths and weakness, and the person who helps determine whether your home will meet your lender’s approval, your insurance company’s approval and your approval.

For insurance purposes, there are four types of inspections that might be required:

(1) Four Point (4Pt) Inspection: This inspection outlines the age, condition and life expectancy of your home’s 4 main systems (roof, a/c, electrical and plumbing).  Most insurance companies want to see at least 3-5 years of remaining life on all four systems.  They also want to make sure there are no damages or defects in those systems, such as aluminum branch wiring, roof damage or plumbing leaks.  If your home is 20+ years old, ask for a 4Point Inspection – it will keep your insurance options open.

(2) Roof Inspection: This inspection outlines the age, condition and life expectancy of the roof only.  It is 1/4 of the 4Point Inspection, and costs only slightly less.  It is usually a much better idea to just get the 4Point Inspection done instead.  Any company who wants a Roof Inspection will take a 4Point instead, but that is not true in the reverse.  You don’t want to limit your options of insurance company because you don’t have the required inspection.

(3) Wind Mitigation (Wind Mit) Inspection: This inspection analyzes the wind-resistant features of your home and thus determines insurance discounts.  Wind Mits are never required, but they might as well be.  Trying to get a decent Homeowners Insurance premium without one is almost impossible, as rates are set high with lots of room for wind discount.  A favorable Wind Mit can save 30-40% on your Homeowners premium.  The newer the roof, the greater the discount will be.  For a breakdown of the specific Wind Mit credits, please see our blog article Wind Mitigation Inspections: Demystifying the Discounts athttp://vierainsuranceagency.blog.com/2012/08/16/wind-mitigation-inspections-demystifying-the-discounts/. *NOTE: if your home was built in March, 2002 or later, Wind Mit discounts will be applied to your insurance quotes automatically – no Wind Mit required.  The only exception to this rule is the hurricane shutter discount.  If every opening, including all windows, doors and the garage door, are protected with hurricane-impact protection, you should have a Wind Mit done regardless.  If your home is 2002 or newer and you don’t have full hurricane-impact protection, don’t waste the money on a Wind Mit.

(4) Full Home Inspection: This is the full report that you receive from the inspector, usually 30-40 pages.  The full inspection outlines every nook and cranny in the home, and should include detailed recommendations and photos of every single deficiency.  This inspection is usually not required by insurance companies, as it goes into much more detail than they need, but there are times when they will request it, especially for older homes and/or homes requiring special permission to insure with a particular company.

To summarize what your insurance agent will need:

Home is 2002 built – present: Wind Mit only if you’re trying for the shutter credit

Home is 19 years old or newer (up to 2002): Wind Mit

Home is 20 years old or older: Wind Mit and 4Pt, rarely the Full Home Inspection