4-Point Insurance Inspections

Insurance Liability (4-Point) Commercial Inspections

A Commercial Property Insurance Hazard or 4-Point Inspection is designed to identify both significant and minor risks that could adversely impact your commercial property insurance. Insurance providers are increasingly cautious about issuing insurance policies for older commercial properties, typically those 25 years old or more. The common concern among insurance companies is the potential liability associated with conditions in older commercial properties. Unresolved issues may lead to increased costs for commercial property insurance or even the risk of policy cancellation. Addressing these identified hazards has the potential to reduce insurance premiums, providing long-term cost savings.

For instance, consider a commercial property with a roof that is two decades old; it might fail during the policy period, prompting the property owner to seek reimbursement from the insurance company for damages. Similar concerns extend to the condition of HVAC, electrical, and plumbing systems in older commercial properties. If these components are in poor condition, need updates or replacements, or were improperly installed, they may fail and result in fire or water damage to the commercial property.

Detailed Property Condition Report

Buying a property can be a stressful experience, so be sure to choose someone with your best interest in mind who can provide you with the information needed to make the best decision. Our findings will be compiled in a final Property Condition Report (PCR). The report contains concise details from the walk-through survey, documents procured, the results of interviews, and any other third-party reports ordered as part of the inspection. The report will provide an inventory of the building’s major systems and components, documented photos, and an evaluation of their functional and physical condition. This will highlight the property’s strengths, potential deficiencies, and deferred maintenance issues. It also includes any recommendations on conducting corrective action or requesting follow-up testing by a specialist. Contact CPIV of Port St. Lucie, FL, to schedule your next commercial property inspection.