Rather than going through the options to find the best insurance policy for their budget and coverage needs, many select a policy that comes easily and at an affordable price because they just want to get something to protect their home. Then, once the settlement is complete and the policy is acquired, homeowners typically put it out of their mind as they progress to move-in day and renovations. Unfortunately, rushing to get homeowners insurance could leave you with significant gaps in your coverage.
The Keller-Brown Insurance team understands the desire to get insurance out of the way because it can be overwhelming and insurance is complicated — especially with so many options available to you. However, you don't want to find yourself in a situation where your coverage just doesn't cut it at the time of a claim.
We make it a priority to connect our clients with the best insurance policy for their unique situation, considering your budget, your home and your risks. One way we help customers get the best homeowners insurance for their family is through exterior home surveys, otherwise known as home insurance inspections. In this blog, we'll walk you through the real value of a home insurance inspection and how a simple property survey could protect your house when you need to make a claim.
What is an exterior home survey/home insurance inspection?
Insurance companies conduct inspections — at random. They might inspect a home with a brand new insurance policy. They may do so at the time of renewal, or they might conduct an inspection after 3-5 years. And they almost always inspect dwellings valued at $1,000,000 or more. Although the timing of an inspection is random, the purpose is always the same: to determine the home's estimated value and level of risk.
The most important factor to consider when selecting your homeowners insurance is whether you'll have enough coverage in the event of a total loss. Through property insurance inspections, we get an accurate picture of your home's replacement value as well as the potential risks that could contribute to an insurance claim.
To conduct the survey, an inspector visits your home to take external pictures and measurements (if you have a wood stove, they'll need to go inside to see it). They evaluate building materials and quality which help determine an estimated cost to rebuild the home. The inspector also looks for potential hazards that can lead to losses, so you can be proactive in repairs.
How a Keller-Brown Insurance home insurance inspection is different
Whereas many insurance carriers inspect the home after customers acquire the policy, Keller-Brown Insurance aims to perform inspections at the beginning of the client relationship. Performing the home insurance inspection up front enables Keller-Brown Insurance to undergo a thorough and accurate underwriting process. Homes are one of the biggest investments people can make, and inspections help us get a detailed understanding of your property and its risks before selecting a homeowners insurance policy.
Although we most often conduct inspections for new customers, current customers are also encouraged to take advantage of this service because it helps homeowners to identify problem areas in their home and potential gaps in coverage. We may also re-inspect a property if it's been several years or if we're shopping for your insurance plan.
Above all, we encourage proactive inspections. When an insurance company conducts a random inspection, they often find issues that could disrupt the customer's insurance coverage. What they find could lead to a canceled policy, reduced coverage, increased premium, or they can set the policy up to non-renew.
We generally conduct our inspections prior to binding, so we can avoid these kinds of surprises. Even if an issue is discovered in the inspection, we take a more proactive approach by assigning customers a deadline by which repairs must be made or alternate coverage acquired.
Best of all, there is no cost to have Keller-Brown Insurance perform an inspection. With a free inspection, you can be sure you have enough coverage and possibly prevent claims from even happening.
Contact us today to schedule a free home insurance inspection.
Benefits of home insurance inspection
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Home insurance inspections help prevent claims.
One of the primary reasons insurance companies do inspections is to identify risks that could result in a claim. A home insurance inspection could uncover hazards that you didn't even know about, giving you the opportunity to make repairs to your home before a bigger issue arises. Being proactive helps you to address preventable claims, so that you reserve coverage for unforeseeable situations like major weather events.
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Home insurance inspections help you get the right amount of protection.
According to Insurance Journal, just 30% of homeowners with an existing insurance policy updated their coverage within the past year. As inflation continues to impact both home values and repair costs, coverage needs will increase as well. Having your home inspected when you first buy insurance or when you're reviewing your coverage will help you ensure your investment is protected through fluctuations in the economy.
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Home insurance inspections could uncover savings opportunities.
Inspectors visit your home in order to get the most accurate idea of your risk that they possibly can. Inspectors don't just look for potential hazards, they also look for features that can help protect your home from damage. Features they might take note of include home security systems or water leak sensors.
What happens after your home insurance inspection
Many people have risks present at their home that they don't even know about. That's why insurance companies send out an inspector to survey the home. It's possible that your insurance provider will require a dwelling limit increase on your home following a survey.
Alternatively, you may discover your home is in need of repairs. Although home insurance inspections could result in additional expenses like higher insurance costs or repairs, they are essential to keeping your home adequately covered. In fact, a home insurance inspection could help you attain the coverage you would need to rebuild in the event of a fire or natural disaster.
Do you have enough homeowners insurance coverage?
Conducting a regular review of your insurance coverage keeps you protected as prices fluctuate and you make changes to your home. Contact us for a free home insurance inspection.
Learn more about why it's important to review your insurance coverage.