Can I Get Homeowners Insurance Without an Inspection?

It's up to your insurance carrier, but there's no law or industry-wide guideline that states every home must be examined to be insured.

If your home is brand new or the previous owner had an insurance inspection done by the same provider a year earlier, the insurance company may skip the inspection.

However, inspections aren't always required to evaluate coverage needs. If your home is ancient or hasn't been examined in a decade, the insurer may want to assess the risk before insuring it.

Also, lenders generally advise having a home inspector assess a property before buying it. An examination may cost a few hundred dollars, but it may identify hidden dangers that could cost thousands to rectify. So get one before you buy. Home inspections aren't needed by law, and many banks don't demand them to acquire a mortgage.

When selling a home, an appraisal is usually required to assess its value. Due to their similarities, many people mix up assessments and inspections. But they all have a purpose.

What Does A 4-point Examination Look For?

If your insurance provider requires a 4-point examination, you are usually responsible for the cost. This is especially true if your home is older than 25 years and has a history of maintenance concerns.

A 4-point examination examines the following areas of the home:

• Roof
• Plumbing
• HVAC
• Electrician

Unlike the frame and outside structure, these four components need to be repaired or renovated periodically. Insurers consider obsolete electrical work, rusty pipes, and an ancient roof high-risk, resulting in loss and insurance claims.

After the inspection, the insurance company may change your coverage or premiums based on the inspector's findings.

Does Home Insurance Cover Defective Inspections?

If your home has failed a home inspection, you may not be authorized for homeowners insurance until the issues are resolved. Alternatively, your insurance may require specific repairs within a certain time frame (typically 30 days).

A house may fail a 4-point inspection due to leaking pipes or a damaged roof. If you don't want to do the repairs yourself, you might ask the present owner to do so in exchange for a lower sale price.

You still have one alternative if you can't get homeowners insurance due to remodeling. A surplus lines policy, often known as builder's risk insurance or vacant property insurance, covers risks not covered by normal insurance providers. However, it may provide vital coverage while you renovate your house.