Published at Sunday, April 15th, 2018 - 21:07:01 PM. Manufacturer Home Insurance. By Durand.
The term for example "replacement cost" means that your policy will cover the cost of replacing whatever has been damaged, depending on your policies limits. When insuring your manufactured home, you need to insure against damage to the home, property theft, and your liability for any injuries that occur there. There are insurance pricing factors that you cannot control. Such things as flooding or high crime rates, known to exist in the area, will result in higher premiums. One of the things that will affect your insurance cost is what is its exposure to risk. The fact that these homes are lighter than those built on a site, they can be damaged by storms and severe weather. This is especially true in hurricane areas. Other possibilities are frozen pipes, because of poor insulation, as well as danger of fire. This is especially true in a mobile home park when where the units are located very close to each other.
Perhaps another challenge that one will encounter is the lowering or stripping of benefits in a manufactured home insurance policy. Most companies would not be willing to consider including coverage for loss that is due to water damage. Again older mobile homes are at a greater risk of damage or loss due to events involving water. So you may want to check out the plumbing system to determine whether it needs to be replaced. You may also want to take note of the site where you will be moving to. If it is a flood-prone area then you better think twice because it could easily cost you in many different ways.
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