Insurance 4 point inspection
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Insurance 4 point inspection
In the year 2020, 55.4 million houses had been sold according to the NAR. The average home sales of homes in the US in 2016 were only 812,000 according to Census Bureau statistics. Approximately 90% of buyers looking for new homes have already looked at old homes from August 2018 - July 2021.
This compares to 45% for new homes. Almost half of homes in the U.S. currently have between 30-60 year-olds, according to Statistics Canada. Older houses usually undergo a 4 point inspection.
If your home still has the extremely outdated knob-and-tube wiring system that was popularized in the 1940s, home insurance companies will need to know that information. There is a basic outline of what's covered under a four-point inspection; however, each insurance agency has its own set of rules regarding who needs an inspection.
What is a 4 point inspection Insurance ?
A 4-point inspection is an evaluation of the roofing, electrical, plumbing, and HVAC systems that examines the present state of a home or condominium.
