• Homeowners insurance inspection is conducted by a qualified representative from an insurance company. The aim is to identify potential issues in both the interior and exterior of your home. This allows the insurance company to determine how much coverage your home might require, in case it needs to be rebuilt from scratch. However, in some instances, the risk factors within the home may render it uninsurable. In these situations, the inspector will fail the inspection.
• Let us clarify what occurs if a homeowners insurance inspection does not pass.

Why is my homeowners insurance company interested in inspecting my home?

• A homeowners insurance inspection differs from a typical home inspection. In this scenario, it is not the buyer that requests the inspection, but rather the insurance company itself. There are several reasons to conduct this inspection prior to providing home insurance.
• The insurance company seeks to confirm that all information given by the homeowner is accurate. The details on the insurance application form are compared with what is observed during the inspection.
• Every home needs a tailored coverage plan. The coverage should be adequate so that if the house is destroyed, the insured sum is enough to rebuild it. Therefore, it is crucial for the insurance provider to evaluate the safety of your home. Hazardous conditions, like a leaking roof or water damage, can increase the chance of future claims. Consequently, the required amount of coverage also rises.
• A home insurance inspection provides the insurance company with a clear picture of your home’s actual condition. This also influences the premium you are required to pay for the coverage.

What occurs if you do not succeed in your homeowners insurance inspection?

• In most situations, the certified inspector will document all factors that could present a risk in the future. This includes doors, windows, safety features, roofs, flooring, appliances, and everything else in your house. As the risk factors increase, there is a need to raise the amount of coverage accordingly. However, there are times when the state of the home might be poor enough for the companies to deny insurance.
• Your home may be very old and susceptible to damage.
• There may be a considerable number of missing shingles from your roof. Or your roof might have large cracks.
• If there are foundational issues with your home, this serves as a significant warning for the company, potentially resulting in a failed inspection.
• Severe water damage within the walls can also be a crucial factor during the homeowners insurance inspection.
• In such severe instances, the inspector will not approve your home during a homeowners insurance inspection. As a result, you will not qualify for a home insurance policy from that company.

What steps should be taken to obtain homeowners insurance after failing an inspection?

• A failed home insurance inspection does not imply that obtaining home insurance is impossible in the future. Numerous companies are ready to provide high-risk home insurance policies with slightly increased premiums. Additionally, investing a few thousand rupees to repair certain issues in your house can make it easier to secure home insurance for your property.

How to prepare for a homeowners insurance inspection?

• To prevent failure in a home insurance inspection, you can take several precautionary measures in advance.
• Inspect your roof. If it has any cracks or holes, hire a professional to fix them. If your roof features shingles, ensure there are no missing pieces.
• If your flooring shows signs of erosion, it could elevate the risk of injuries occurring. Therefore, attempt to repair them to the best of your ability.
• Evaluate both the interior and exterior drainage systems of your home. Confirm that they are unclogged and functioning properly.
• Investigate the sinks and faucets in your kitchen and bathroom for any signs of water leakage. A plumber can be hired to address any existing leaks.
• Bubbling on the walls may indicate serious water damage. It might be wise to consult a professional to find a solution.
• Check the window panes for any cracks. Replace them if necessary.
• Ensure that the locks on windows and doors are functioning properly.

Conclusion

• A homeowners insurance inspection is conducted to evaluate the potential hazards that your home may present. Consequently, it is possible that certain features of your home could result in failing the inspection. If that happens, remain calm and seek out insurance companies that are willing to assume that risk.

Disclaimer:

• The information provided above is for illustrative purposes only. For further details, please consult policy wording and prospectuses before making a purchase decision.

Summary:

• You may fail your home insurance inspection if your property is classified as high risk. Issues such as a faulty foundation, leaky roof, or age of pillars can result in failing the inspection. However, this does not mean that obtaining homeowners insurance is out of the question!