Are property insurers now mandating home inspections for coverage?
My neighbor recently tried to reduce their homeowners insurance in Georgia and found a cheaper option. However, after finalizing the deal, they were informed that an inspection was necessary, and they had to replace their roof on a house built in 1987. Even though the roof was only 10 years old and had no leaks or problems, they ended up spending $7,000—so much for saving money!
Has anyone else faced this? I have USAA and am looking to lower my property and car insurance rates as I’m tired of their continual price hikes. I’d appreciate any insights! Thanks!
It’s frustrating to hear that your neighbor had to go through an unexpected expense like that after trying to save money on insurance. Unfortunately, requiring home inspections before issuing a policy or upon renewal has become more common among property insurers, especially in areas prone to storms or other hazards. Insurers want to minimize their risk, so they may insist on inspections to assess the property’s condition.
For your situation with USAA, it’s worth reaching out to them and asking about any discounts or options that might help you lower your rates without requiring major renovations or inspections. Sometimes bundling policies or increasing your deductibles can provide savings. Additionally, consider shopping around for quotes from other insurers to see if you can find a better deal that meets your coverage needs without hidden costs. Just be sure to read the fine print and understand any inspection requirements.
It’s a tough balance between wanting to save money and ensuring your home is adequately covered, but you’re not alone in facing these challenges. Good luck!