Another area to be concerned with may be the inability to get home owners insurance.
1/3/2008
We are pleased to consider coverage requests for homes 30 years old and older. To determine if your client’s home
meets our underwriting guidelines, we require a 4-Point Inspection. The inspection, signed and dated by the inspector,
must be on company letterhead or a pre-printed form. The inspection must have been completed within the past year
and must, at a minimum, include the following information:
• Inspector’s Credentials:
The inspector must have an active affiliation with at least one of the following organizations: NACHI,
ASHI, FABI, HIAF, or NAHI
If licensed, include the license type, number, and state of issue
• Electrical System:
Type of wiring and metal, i.e., copper Romex®
Size of service in amps and is this service size sufficient for the home?
Overload Protection: Circuit breakers, fuses, or both. FPE breakers present?
Condition and estimated remaining serviceable life
Year and description of any updates to the system
• Plumbing System:
Supply and waste lines are of what materials?
Condition and estimated remaining serviceable life of pipes
Year and description of any updates to the system
Water Heater: age, type, location and condition
• Heating System:
Type and fuel, i.e., electric central heat and air
Age of the furnace/heat exchanger
Condition and estimated remaining serviceable life
• Roofing System:
Roof cover is of what material(s), i.e., composite shingles, concrete tile
Number of layers (if shingles)
Age of roof cover
Condition of roof cover and estimated remaining serviceable life
Condition of soffit and fascia and estimated remaining serviceable life
Please include the inspector’s photographs with your request along with your name,
contact information, HomeWise agent ID, insured’s name and quote number.
If you use a Replacement Cost Estimator other than ISO HomeValue, please submit the RCE with your 4-Point.
Inspections and RCEs may be faxed to (813) 200-3632 or emailed to
uw@homewiseinsurance.com.
Remember, our guidelines for the minimum rebuilding cost for homes 30 years old or older are:
Rebuild cost no less than $300,000 in Dade, Broward, Palm Beach & Pinellas Counties
Rebuild cost no less than $175,000 in the remainder of state
1/3/2008
Partial list of unacceptable exposures, regardless of home’s age
This list was not intended to be an all-inclusive list of unacceptable exposures.
Other concerns
may arise based on the content of the inspection report that could result in a decline of the application.
ELECTRICAL:
Any active knob & tube wiring
Less than 100 amp service
Any active aluminum Romex® or similar aluminum cable
Aluminum branch wiring (aluminum service wiring is acceptable)
Overload protection with plug-type or type S, SL, T, TL, W or circuit breaker fuses
FPE Panels
PLUMBING:
Polybutylene pipes
Lead, cast iron, or clay supply lines
Galvanized steel supply lines (unless inspector indicates no reduced water flow or rust)
Tank style water heaters over 15 years old
Active leaks
HEATING:
Portable heaters as primary heating source
Furnace/heat exchanger over 15 years old
Primary source of heat must be controlled by a wall-mounted thermostat
ROOF:
Layering of shingles
Rolled asphalt or composite roofs
Metal roofs (raised-seam or standing-seam roofs are acceptable)
Wood shingles or wood shake roofs
Asbestos shingles
Asphalt or composition shingle roofs greater than 15 years old
Damaged roofs, patched roofs, roofs in need of repair or in poor condition
Damaged or missing soffit or fascia
FOUNDATIONS:
No open foundations
No homes built on stilts (unless compliant with 2001 FBC)