Feeling the Financial Pressure
For many homeowners, this shift toward more rigorous inspections feels like a one-two punch. Amy Bach, executive director of United Policyholders, an insurance advocacy group, argues that these demands are unfairly targeting older homes. “An insurance policy is not a home maintenance agreement,” she said. But the reality is that even minor issues like corrosion or outdated electrical panels are now seen as red flags by insurers.
This comes at a time when many American families are already feeling the squeeze. The question many homeowners are asking is: Why should they shell out thousands of dollars to fix something that doesn’t visibly improve their home or its functionality? For example, upgrading a perfectly functional electrical panel could set a homeowner back $2,500—a hard pill to swallow when the upgrade offers no noticeable benefit.
The Hidden Costs of Preventative Measures
Some of the most common targets of these inspections are copper and polybutylene pipes, as well as certain types of electrical panels that were installed as late as the mid-1990s. These inspections have only ramped up since the Surfside condo collapse, leading to even greater scrutiny of older buildings. While no one disputes the importance of safety, many homeowners, like Barron in Palm Beach County, can’t help but wonder: If it’s not broken, why change it?
