Rental Property Investor · Washington, DC · Member since 2018 · 98 posts · 38 votes
I just closed on a property and insurance sent me notice they will be inspecting exterior within 30 days.
The roof had a few leaks and the previous owner repaired them with a lot of tar! I was trying to hold off a few years to replace since it’s not leaking.
Do I just wait for them to come and inspect or do I jump ship now for another insurance agency?
If they flag my me to replace with roof within 30 days like I’ve heard, will that impact me switching to other converage?
Real Estate Broker · Hyde Park Tampa, FL · Member since 2019 · 2k+ posts · 3k+ votes
3y
An insurance inspection post-acquisition is pretty standard - and it is so not appreciated. I recommend staying the course but doing the following:
1. Make sure the property is free of any trip hazards and remove anything that remotely could be considered as such.
2. Clean the house and change the air filters.
3. Paint any surface that is stained - especially ceilings.
4. Cure any dripping faucets, running toilets.
5. Make sure the electrical panel is easily accessible (if outside, make sure that the door secures well).
The roof is what it is and insurability will be determined by its remaining life; if the repair is substantial, it could also be an insurance issue. Bottom line here: just let it be inspected without commentary; if questioned about it, just state that there have been no leaks and the prior owners were diligent in its upkeep.
Rental Property Investor · Youngstown, OH · Member since 2023 · 128 posts · 124 votes
3y
Jumping ship would be a moot point. Pretty much any insurance company that you go with is going to do an inspection of the property. Most of the times, these are just "drive-by" inspections, sometimes the inspector might get out and walk around the property, but not always. If the roof doesn't leak, worst I imagine happening is them requesting for the roof to be inspected by a roofing contractor and write up a report showing that the roof does not, in fact, leak. I had this happen with a property I bought where the basement got wet -- insurance had me call a structural engineer out to take a look and provide an inspection report showing that everything was structurally sound.
Specialist · Columbus, OH · Member since 2019 · 110 posts · 102 votes
3y
My last purchase, the insurance inspection had me cut my trees that were touching the house. Fair enough. That also pointed out some rotted wood on the window sills, but I had already scheduled to have that repaired and just showed them the quote, and followed up a few months later with the pictures showing it was done. But this was the most detailed report I've ever seen them do. As @Alex L. said, usually its just a drive by and they take some pictures.
And if the home does need a new roof, hopefully you worked that into your plan?
In any case, I wouldn't worry too much about it. Let is know what they say.
Real Estate Broker · Hyde Park Tampa, FL · Member since 2019 · 2k+ posts · 3k+ votes
3y
An insurance inspection post-acquisition is pretty standard - and it is so not appreciated. I recommend staying the course but doing the following:
1. Make sure the property is free of any trip hazards and remove anything that remotely could be considered as such.
2. Clean the house and change the air filters.
3. Paint any surface that is stained - especially ceilings.
4. Cure any dripping faucets, running toilets.
5. Make sure the electrical panel is easily accessible (if outside, make sure that the door secures well).
The roof is what it is and insurability will be determined by its remaining life; if the repair is substantial, it could also be an insurance issue. Bottom line here: just let it be inspected without commentary; if questioned about it, just state that there have been no leaks and the prior owners were diligent in its upkeep.
Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
3y
I can’t speak for New York. Even if you bring another insurance agency, they will do a exterior inspection. The insurance company will tell you they will not insure the property and you’re still left looking for a new company.
Insurance Agent · Norwalk, CT · Member since 2016 · 2k+ posts · 1k+ votes
3y
Patrick,
The most common recommendations I see on exterior inspections are:
1. Roof repairs
2. Trees/Tree limbs too close or overhanging the structure
3. Broken/cracked driveways or walkways
4. Damaged stairs or lack of railings
You may want to be proactive on the Roof and get it inspected by a Licensed Roofer. Find out if there are any repairs they recommend. Missing or damaged shingles are often cited in inspections.
Speak to your agent and find out what they have been seeing on the inspections from that company. Also, find out what the plan is if you get a recommendation to replace/ repair the roof. Can they move it or will you have to do the repairs. If you are going to be stuck getting the roof repaired, I would start getting quotes from multiple roofers now so you are not under the gun.