Why You May Need To Inspect Your Home Before Buying Insurance Coverage
There are cases where you don't have to inspect your home before buying homeowners insurance and there are also cases where the home inspection is a prerequisite for the coverage. Here are some of the cases where you may need an inspection.
The House Is Very Old
Extremely old homes have unique risks that their newer counterparts may not have. The plumbing system may be deteriorating and prone to leaks, the electrical system may be outdated and risky, and many of the building materials may be breaking down. For this reason, your home insurance company may have your old home inspected before they can sell you coverage or determine your rates. The inspection is necessary to help the insurer know exactly what risks they are dealing with.
You Have a Unique Home
A unique house is any house that cannot be labeled as a standard or conventional home; it stands out from your usual idea of a home. For example, a unique home may be constructed in an unconventional design or with unconventional materials. Examples include homes built with purely recycled materials, homes built in the shape of everyday objects (such as a football-shaped home) or homes converted from everyday objects (such as bus converted into a home). Such a home will require a pre-coverage inspection because it has unique risks that your insurance carrier has probably never dealt with. An inspection is necessary to identify these risks so that the insurer knows exactly what they are dealing with.
When You Buy A New Home
Most home insurance carriers will also require an inspection when you buy a new home and want to insure it. This may be the case even if you are an existing customer and you plan to add the new home, say a vacation home, to your existing policy. This makes sense because the new house may be featuring risks that your current home doesn't have.
Your Home Insurance Carrier Requires It
Home insurance companies have different policies that necessitate home inspections under different circumstances. For example, one company may require a home inspection for its new clients while another carrier may require home inspections under specific circumstances (like after a modification). Therefore, this is something you should get clarification on from your insurance agent or carrier of choice.
Hopefully, the home inspection will not reveal any defects or dangers that may hike up or threaten your home insurance coverage. If such defects are discovered, however, you just need to fix them up to your insurer's satisfaction and you are good to go.
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