Home inspections have become an important part of the home-buying process, as insurance companies no longer automatically insure homes constructed with outdated building codes, and financial institutions seek assurances the homes they are financing are free of defects.

The state of Florida began licensing home inspectors in 2010. Many of the top home inspectors are accredited by the Florida Association of Building Inspectors and the American Society of Home Inspectors.

Many inspection jobs are from sellers purchasing a new or existing home, however a large part of the home inspection business is from insurance companies potentially denying coverage to existing policy holders for wind mitigation issues, faulty electrical wiring, service panels or old roofing.

Many insurance companies today also require a 4-point inspection — roofing, electrical, plumbing and HVAC (heating, ventilation and air conditioning) — before considering coverage. 4-point inspections are gaining in popularity with many homeowners who must purchase coverage from the state-sponsored Citizens Insurance Program.

Home inspections were always a good idea. Today, however, with all of the peril in insurance coverage, regulations and warranties, they have become a necessity.

Source:  Daily Commercial