4 Points inspection, what is that?
4 Points inspection, what is that? Some people interested in purchasing homeowners insurance are surprised when they are informed that they need a 4 Point Inspection “What is that?” they wonder intrigued.
It is an essential requirement that insurance companies demand when someone hires them, especially when buying an old property, or a rental property. New homes do not need such an inspection.
The objective of the 4 Points is to see the condition of the four most important systems of a property: the roof, the electricity, the plumbing, and the air conditioning system.
An inspector, hired by the owner, will write in a report the age and condition of the roof, if it has missing tiles, if they are broken and if there are leaks. He will also check the type of wiring that the house has, as well as the state of the electrical system in general. Later he will inspect the plumbing if it is PVC, copper, or iron if they have signs of water leaks and finally he will check the condition of the air conditioning. The age of the equipment, how they work, and if it loses water.
It is important to know that if one of the inspected property systems has a problem, the insurance company could turn you down. If this happens, you have the option of fixing the reported problem or finding another insurance company that will admit it despite the finding. If you are in the process of buying an older property, doing the 4 Point inspection early enough and having the insurance company involved from the beginning, can save you more than a race at closing. 4 Points inspection, what is that?