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Insurance issues that may affect the sale of your St Petersburg home

Citizens requirements for 4 point inspection

New 4 point inspection requirements


New rules from Citizens Insurance may affect the sale (or purchase) of your St Petersburg home. Starting September 1, 2012, Citizens will require a 4 point inspection for any new or renewal homeowner’s insurance policy on a home 30 or more years old – i.e., built before 1982.  Many of the waterfront homes in Venetian Isles, Broadwater, Yacht Club Estates and many other areas were built in the 1970s, so will be affected.

The four “points” of the inspection are plumbing, electrical, HVAC (heating and air conditioning) and the roof.  The inspection must be completed by an appropriate Florida licensed inspector and photos must accompany the report.  It appears that a new 4 point inspection report will need to be done with each annual renewal. In addition to a certification that all four systems are in good working order, there are some other requirements to note:  all roofs will need to have at least 3 more years of expected life; no polybutylene pipes; and if the house has single strand (aluminum branch) wiring, separate documentation of remediation must be provided and certified by a licensed electrician. Three remediation methods are allowed: 1) entire home rewired with copper; 2) connections repaired via COPALUM crimp; or 3) connections repaired via AlumiConn.

The aluminum wiring situation is similar to the knob-and-tubing situation in older homes. Most contracts will state that all systems need to be operating properly but that the seller/owner will not have to upgrade to new codes unless an item needs repair. However, if the contract is subject to financing, the lender is going to require insurance. If the buyer can’t get insurance for the home, the loan won’t be approved, so the financing clause will allow him to walk away. So, it’s better to address this issue before you put the home on the market.

Call or email The Simms Team for a copy of the new Citizens 4-point inspection report or for additional information on these inspections.



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