Many homeowners may need a 4-point insurance report to renew homeowners’ coverage or to obtain homeowners insurance coverage. Insurance carriers in Florida are being selective on the risks they are willing to assume. Risks may include the age of the home, location, and the age of the primary components such as plumbing, HVAC, electrical, or roof covering.
Regardless of the age of the home or roof covering, many consumers are being denied coverage based on being in an area with a high statistical claim rating; often these claims are related to roof claims. Roofers and public insurance adjusters are known to canvass subdivisions following storm events such as hail or windstorms offering “free roof replacement”. While that may be welcome to many homeowners who have aged roofs, it does not go unnoticed by the insurance carriers. Your neighbor’s free roof replacement may just be the reason you cannot obtain affordable coverage today. The old adage, “there is no free lunch” is alive and well in the Florida insurance marketplace.
Many home inspectors have been forced to increase pricing to conduct 4-point insurance inspections. What was straightforward documentation of the four primary components (roof, HVAC, electrical, and plumbing) has morphed into a mini-home inspection based on increased carrier requirements. Carriers today require:
- Permit dates of roofs, plumbing, and electrical upgrades
- Photos of all sink/toilet plumbing and valves
- Photos of water heaters with exterior discharge piping, TPR valve, and discharge piping
- Photos of all HVAC units with data plates
- Photos of all roof elevations
- Photos of all exterior elevations
- Photos of electrical wiring, the interior of all panels, and confirmation of upgrades to aluminum wiring (if applicable)
In addition, home inspectors are now listed in the policy as the carrier’s source of information to underwrite the policy which places increased liability on the inspector. Those inspectors who are not accounting for this are taking on a huge risk.
4-Point Insurance Report
In short, a 4-point insurance report is no longer a quick add-on to a home inspection report or a quick stop for the inspector. Diligent home inspectors must now “inspect” these components rather than simply document their presence and along with these increased requirements, the report takes longer to prepare.
Homeowners in the metro-Jacksonville area should be cognizant of the importance of choosing a qualified inspector for insurance reports. It may mean the difference in obtaining a good policy vs. limited coverage or no coverage.
Property360 provides 4-point and wind mitigation insurance inspections throughout the metro-Jacksonville area to include Fleming Island, Middleburg, Green Cove Springs, St. Johns, St. Augustine, Nocatee, Jacksonville Beach and The Beaches, Orange Park, Macclenny, and Mandarin. To request an inspection, contact us at (904) 606-1570 today.