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Why home insurance inspections are important

On Behalf of | Mar 25, 2022 | Real Estate

Buying a home in Connecticut is often a lengthy process. After you have settled on a home, and a mortgage company has granted its approval, you’ll have to have an insurance inspection to identify potential issues and help you select the right amount of homeowner’s insurance.

Benefiting from a home insurance inspection

Getting a home insurance inspection on your real estate purchase will provide you with three major benefits. An inspection:

  • Identifies potential risks that could pose safety concerns
  • Identifies areas for potential insurance policy discounts
  • Helps determine an insured amount that is not too high or too low

Home insurance inspectors look for specific items or situations when looking at the house you are about to buy, such as potential hazards that could result in fire or other liability issues. If you already have plans to fix these problems, let the inspector know. They will also measure your building and take note of features that may need special consideration. Lastly, they will look at all operating systems to ensure that all have been well-maintained. Note that an insurance inspection is different from a real estate inspection as the former focuses on liability prevention while the latter focuses on value.

Dealing with hidden surprises

In some cases, the home insurance inspection may uncover hidden problems in your home that should be addressed before the final contract is signed. If the problem is severe enough, you as the buyer can ask for concessions from the seller to ensure that a hazard is remedied before closing.

Remember that while a home inspection seems just like another item you have to tick off a list in the process of buying a home, it is an important step. A proper home inspection can help you avoid potential loss and injury.

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