A New Property Purchase
Nearly any time you make a purchase of property, be it commercial or residential, you’ll undergo an inspection. Often this inspection (which you’ve ordered to make sure that this property is worth your investment) will suffice as an insurance inspection. And not all insurance companies will require their own inspection depending upon how recently the property has been inspected, the age of the house, and the condition it was in at its last inspection.
After Additions Or Upgrades
No matter how recently you’ve had your home inspected you should alert your insurance company of any significant additions or upgrades. It’s up to them to determine whether or not they’d like to have an additional inspection performed, but it’s worth it to know that your property insurance covers all of your investments.
New Or Updated Policy
Any updates to your actual insurance policy may trigger and insurance inspection. Whether you’re seeking to include new property additions as mentioned above or searching for more comprehensive coverage a new policy frequently will prompt a new inspection.
And finally, if you choose to switch to a new insurance provider altogether it’s very possible that you’ll be asked to undergo a new inspection. It’s up to the provider to determine, and the date of your last inspection as well as the age and condition of your property will play a role in the decision.
An inspection performed for your insurance company will ultimately benefit you, the property owner, as well. It’s a great way to make sure that your property is covered in all the ways it needs to be, as well as alerting you to potential issues that are of concern to your insurer. If you’re in the market for a new inspection, contact us today.