You may have to pay for a 4-point inspection when buying homeowners insurance for a property that’s more than 25 years old. The brief assessment covers four parts of the house, namely
roofing
plumbing
heat, ventilation, and air condition (HVAC)
electrical systems
These components degrade with age and can lead to an increase in your insurance rate if the potential cost of repair is too high. If an older property hasn’t been renovated, it may require an inspection to estimate the possibility of a covered claim in the near future. Alternatively, an insurer may require you to repair severe defects before approving your property for coverage.