Insurance carriers will typically require a 4-Point Inspection when homes are in excess of 25 years old. The four point inspection will include an assessment of the Roof covering, Electrical system, HVAC, and the Plumbing components to make sure there is no undue risk to the homeowner or insurer. This age requirement will vary depending on the insurance carrier but the concept is the same - Are the main four components of the home relatively safe and in good condition?
Most insurance carriers will require a remaining functional roof life of at least three years before they will write the insurance policy. Homes that are for sale with composition shingle roof coverings 14-16 years old therefore are at risk for early replacement This may and has resulted in some roofs being replaced before the end of functional life, just to facilitate insurance coverage. The presence of polybutylene piping or a Federal Pacific panel for example will warrant replacement prior to closing. None of these make a happy seller or buyer especially in today’s market and all result in some form or contract re-negotiations!