Insurance Guy: Why The Home Visit?

An insurance representative may come to your house to conduct an inspection. This could be an exterior or interior inspection, and it may involve taking pictures. Inspections are usually carried out when you are buying a new house, switching insurance providers, renewing your policy, or filing a claim. The insurance company will want to assess the risk of insuring your home and verify the replacement cost. They will look for any hazards, maintenance issues, or pre-existing problems that could lead to liability or damage concerns. While you can refuse an inspection, this may jeopardise your coverage or claim.

To assess the risk of insuring the home

An insurance company will send a representative to assess the risk of insuring a home before issuing a policy. This is to help them determine the risk they are taking on by insuring the property. The inspection can be as simple as a drive-by look at the home's exterior or a more in-depth process that involves entering the home.

The insurance company will want to assess the replacement cost and risks associated with a new policy or the renewal of an existing one. The inspection can also be used to determine the insurance premium. The interior and exterior of the home can be inspected, and the results can affect the rate or policy standing. The inspector will concentrate on the electrical, plumbing, and HVAC systems if an interior inspection is necessary. They will also check safety features such as smoke alarms, fire extinguishers, and anti-theft devices.

The insurance company may also want to inspect the home if there is a concern about a potential risk on the property, such as a missing handrail on steps or deteriorated roofs, which could be liability hazards. They will also want to verify items that can earn discounts on the policy, such as a home security system.

The insurance company will evaluate the inspection results and determine whether any changes to the policy are required. The outcomes of the inspection are typically to continue the policy, modify it, or cancel it.

To verify the replacement cost of the house

An insurance agent may visit your house to verify the replacement cost of the house. This is to ensure that the property is maintained and that there are no major liability hazards or maintenance concerns. The insurance company will want to verify that the property is not underinsured.

The replacement cost of a home is the actual dollar amount required to rebuild your home from the ground up, including any attached structures, such as a deck. It is calculated based on the interior and exterior features of the home, including building materials and square footage. An insurance agent will examine the foundation, structural framing, roof condition, plumbing, electrical fixtures, wiring, pipe systems, heating and cooling equipment, and interior finishes. They will also take photos and videos of the home.

There are several ways to calculate the replacement cost of a home. One way is to hire an independent appraiser to come to your home and inspect it. The appraiser will be familiar with local building costs and applicable ordinances. Another way is to use a replacement cost calculator, either through an insurance company or an online tool. A licensed insurance agent may also be able to help estimate the replacement cost.

It is important to have adequate insurance coverage to prepare for a disaster that could destroy your home. If you are underinsured, you may not be able to rebuild your home in the same condition or location. Extended replacement cost coverage can help guard against inflation and increasing repair and construction costs.

To inspect the house before issuing a policy

An insurance agent may visit your house to inspect it before issuing a policy. This is to evaluate the risk they are taking on by insuring your property. The inspection could be a simple drive-by or a more detailed interior inspection. During the inspection, the agent will look for any potential liability hazards or maintenance issues that could lead to a claim or lawsuit. This includes missing handrails, missing steps, excess debris, deteriorated roofs, boarded windows, rundown structures, swimming pools, trampolines, dogs, and wood stoves.

The insurance company will also want to ensure that the property is correctly valued. For example, if you have recently added a sunroom, the insurance company will want to increase your coverage limit to protect you better. By conducting this inspection, the insurance company can also verify the condition of the property to protect both the homeowner and the company in case of a dispute later on.

While the insurance company has the right to inspect your property as part of the policy agreement, they cannot enter your property without your permission. You have the right to refuse an inspection, but this may result in your claim being denied or delayed. It is in your best interest to allow the insurance representative to conduct the inspection so that they can fully assess the situation.

To process a claim

An insurance adjuster may visit your house to process a claim. This is a standard part of the claims process, with the adjuster inspecting the damage to determine what repairs are needed and how much compensation is appropriate. This process can help ensure that you are paid for all eligible damage sustained.

The insurance company will usually schedule an appointment for the adjuster to visit your home. The adjuster will assess the damage, taking pictures and making notes. They may also examine other areas of the property to determine how widespread the damage is. They may ask questions about how the damage occurred and when it was noticed, and they may assess the structural integrity of the property to determine if any damage occurred before the incident in question. This visit typically lasts for one to two hours.

After the visit, the adjuster will file a report with their findings and recommendations. In some cases, they may authorize a claim on the spot, but it is more common for the policyholder to review the report and communicate with the insurance company to finalize the claim.

It is important to note that you have a legal right to refuse a visit and inspection from the insurance company. However, doing so may result in a delay or denial of your claim, as the company may not be able to determine the extent of the damage without an inspection.

To renew an existing policy

An insurance agent may visit your house to renew an existing policy. This visit is to ensure that the property is maintained and that there are no major liability hazards or maintenance concerns. The insurance company might want to inspect your home when you have applied for a new policy or at renewal time, to ensure the home meets the requirements for insurance. These visits are frequently done as a simple drive-by, although in recent years insurers have implemented the use of drones to perform aerial inspections.

The insurance company has the right to inspect your home as part of your policy agreement. However, they cannot come onto your property without your permission. While you have the right to refuse an inspection, it may not always be in your best interest to do so as the insurance company will probably deny the claim if they cannot determine the extent of the damage.

The insurance company will send a representative to take a look at the house before they can insure it. This might be an exterior inspection where they take pictures around the outside of the home, or an interior inspection where they note things about your electrical, plumbing, and heating units. The insurance company might also send a representative to take photos of your home to document the condition of the property. This can protect both the homeowner and the insurance company if there is a dispute about the home's condition later.

Frequently asked questions