by Guest » Fri Sep 06, 2013 06:57 am
My current homeowners insurance policy was purchased in 2011 and now the insurance company is saying that they need to do an ‘interior survey’ of my home. We've never needed a home insurance inspection before.
I, along with my husband, live in Wisconsin. This home we live in was built in 1950 and I’ve always had home insurance policy. None in my family has ever heard of this kind of survey. So all we are a bit skeptic. Is it something new?
I, along with my husband, live in Wisconsin. This home we live in was built in 1950 and I’ve always had home insurance policy. None in my family has ever heard of this kind of survey. So all we are a bit skeptic. Is it something new?
Posted: Wed Sep 11, 2013 08:13 pm Post Subject:
Not something new, but not something commonly done in homeowner's insurance either. But this has been a standard practice in commercial property insurance for decades. If your home is well-maintained, this might be nothing to be concerned about.
However, a home built in the 1950s almost certainly has one or more coats of lead-based paint on the walls, window frames, and possibly doors and cabinets -- a substance known to cause health problems in young children and older adults. Your home could also have asbestos inside the walls and in the attic.
These are now "toxic" waste products and remediation requires special handling and disposal, all of which is extremely expensive. Your policy might include exclusions for such things or force the insurance company to pay for them. They need to know what the situation is.
Posted: Thu Jan 15, 2015 08:05 pm Post Subject:
These inspections are not uncommon at all, at least hear in Florida. I have done several of these inspections myself. With these types of inspections we are looking at the Electrical, Plumbing, HVAC and roofing system of the home. You will want to be sure and point out any items that have been updated, even small updates such as lights, outlets and switches show that you are maintaining your home which is most likely what they are looking for.
I wouldn't worry about the inspection and truthfully there is not much you can do about it as all of the policies that I have seen give the insurer the right to inspect the property at their discretion.
Add your comment