Fathom Realty
What’s the difference between a home insurance inspection and a standard home inspection? While homeowners might be familiar with the idea of home inspections in general, it’s crucial to know how an insurance inspection can differ.
Here is a basic guide comparing home insurance inspections and standard inspections:
Home insurance inspections are required and carried out by the insurance company providing the homeowners insurance policy. Standard inspections, by contrast, are required by mortgage lenders during the homebuying process.
Lenders might not require homeowners insurance inspections, but you do need proof of insurance for final mortgage approval.
Insurance companies use inspections to determine the amount of risk associated with the client’s home. The inspectors examine the property to find potential liability issues associated with its condition or features. They can also use the inspection results to create an accurate valuation of the home to determine the correct amount of insurance coverage to recommend.
Standard inspections are more broadly used, but are most often used to influence and educate a homebuying decision. A standard inspection reports on the quality and condition of the home in many of the same ways. However, these inspections are more concerned with informing the potential buyer of any maintenance issues they otherwise wouldn’t discover until after moving in.
Home insurance inspections are typically free to the homeowner. The insurance provider pays the bill for the inspection itself, but the overall cost may be wrapped into the policy itself.
In the homebuying process, the buyer pays for the home inspection. In some cases, the seller might offer to pay for the inspection as part of a negotiation.
Both of these types of home inspection are something every homeowner is likely to deal with over the life of the property. The more you know about the differences, the more confident you’ll be in discussing the options with your provider.
With over 10 years experience serving the Dallas and metro area, I am dedicated to providing my clients with outstanding customer service and to earning the referral business of my clients. I focus on family values and customer service. I have made a lot of friends in this business. Constant communication is a big part of my success. Proven professional who brings knowledge, skill and care to every transaction. I would love to be your realtor and if you know of anyone who is thinking about buying or selling a home or would just like additional information about property values in my area then call, text or email me today. If you or someone you know are a veteran, firefighter, policeman, teacher, doctor, nurse contact me about special incentives. If you or someone you know has a blemish on your credit report and is not in active bankruptcy contact me about a new company that can help you get into a home. If you need a reputable credit repair company that will give you help to get back on the right track then I have a great company. If you want to purchase a home but still don't have enough saved there are still available funds to help you with that. Are you or someone you know relocating to the Dallas area? I have helped families relocate here. I understand your family's needs. Certifications: New Home Construction, Senior Designation, American Warrior, First Time Home Buyer, EPRO,Relocation
