A 4 point inspection covers the main 4 points of a home and assesses the updates and conditions of those aspects of the home. This is an effort for the homeowner and insurance company to better understand the status of the home and likelihood of avoiding damage or injury.
Those main 4 areas that this inspection reviews are the roof, heating and air conditioning, electrical and plumbing. The inspection would look at the current condition, when any updates were done and if they are up to acceptable building codes, as well as how much life is left before needing repair or replacement.
Often times when it comes to homeowners insurance, this type of inspection can help determine the insurability of the home and whether or not it meets certain insurance company’s underwriting guidelines. This is extremely important on homes that are 25 years old or more.
So what can be done when it comes to a 4 point inspection early in the process? How can you avoid any hiccups that could delay closing or cause insurance issues after the fact?
- If working with a buyer, help them understand the condition and age of those 4 main points of the house and the importance in updates or being up to code
- If working with a seller, help get quotes to update those 4 main points as that can be a deal breaker for buyers or the re-insurability of the home
A wind mitigation inspection is completed by a licensed contractor. On a standard homeowners insurance policy, a home may qualify for a hurricane/wind premium discount. A wind mitigation inspection would be required for homes built prior to 2002, since that is when building codes changed.
Homes built in 2002 or after were required to meet roofing regulations by building code, and therefore automatically receive wind mitigation credits. This inspection typically costs between $85 and $150 and the premium discount applied by the insurance company will remain for the life of the home policy.
Wind resistive construction features that are considered when a property is being inspected for wind mitigation credits include:
• Secure roof shingles and roof coverings that meet the Florida Building Code requirements
• Roof decking secured with larger nails or screws closer together
• Hurricane clips/straps that secure the roof to the supporting walls
• Window protection (i.e. shutters, impact resistant glazing, etc.)
• Additional water resistant barriers to prevent leakage in the event that the top layer of roofing is damaged
• Roof geometry or shape of roof
This information may be helpful when questioning whether or not a wind mitigation inspections should be done:
2002 or newer: No wind mitigation needed, credits automatically apply
1990-2001: Very likely to receive credits, especially if roof has been replaced since 2002
1980-1989: Likely to receive credits, especially if roof has been replaced since 2002
1970-1979: Not likely to receive credits, but possible if roof has been replaced since 2002
Older than 1970: Unlikely to receive credits
Flat roof (any age): Unlikely to receive credits
Although the COVID pandemic may not be quite over yet, there are several considerations all business owners and anyone in HR should be thinking about. In addition to new processes, this is also a great opportunity to revisit current procedures to ensure things are operating as they should. Here are a few steps you can take to cover your HR bases today and in the future of our new “normal”.
Be sure you have a plan in place for things such as:
o Remote work and technology
o Policies on employee termination, furlough vs layoff, pay cuts, time off
o Return to work (after injury or exposure) protocol
o Safety measures and screenings
o Office closure in the event it is mandated
o Handling an exposure within the workplace
o Mental health support
o Communication methods with both staff and clients
You should also have a structured plan for how you will stay current with resources like:
o Families First Coronavirus Response Act
o Coronavirus Aid, Relief, and Economic Security Act
o Centers for Disease Control, local and state government guidelines
This is extremely important in an effort to remain compliant at all times. Something like COVID is a very fluid and ambiguous situation with requirements as little as a poster you’re instructed to have up at your business’s front entrance so you want to be sure you’re adhering to all instructions given.
2020 may have felt like a bit of an HR roller coaster… or even a nightmare. However, let’s look ahead to 2021 and beyond. There is no better chance to prove your care and consideration for your staff than the way you react to a crisis. Your employees are watching. Your efforts and actions when they need you most will leave a lasting impression and be an invaluable reason they remain loyal to you.