4 Point Inspection For Insurance
When purchasing a home 30 years and older or a bank foreclosure of any age, many insurance companies will require a 4 Point Inspection performed by a qualified licensed inspector which identifies all the defects in a home inspection report that pertain to: the roof, air conditioning, plumbing and electrical systems. Insurance companies will require all of the items repaired or replaced by a qualified technician generally prior to closing regardless of value or whether or not the issue is major or minor in nature.
The 4 Point Inspection consists of a visual survey of the following four systems:
- Roof - General conditions of the roof, the attic for visible signs of leaks, roof covering, and the approximate year installed insullation, skylights and ridge vents.
- Plumbing - Plumbing supply lines, type, any visible leaks under sinks, and drains. Polybutylene plumbing.
- HVAC (Heat, Ventilation & Air Conditioning) - Interior and exterior air conditioning units, year, make, model, condition, visible corrosion, leaks and drain pan.
- Electrical - Electrical panel, grounds, breakers. type of wiring and condition of mast if overhead electrical panel is present, year installed, and condition and presence of GFCI's (Ground Fault Circuit Interrupter). Federal Pacific "Stab-loc" electrical panels are on the list that inspectors specifically look for because they may have inherent defects and these defects have been linked to fires. It has been reported the circuit breakers may fail to trip in the case of an overload or short-circuit. A circuit breaker that fails to trip could cause a fire or personal injury.