Published at Wednesday, April 18th, 2018 - 12:05:27 PM. Manufacturer Home Insurance. By Durand.
There are attached difficulties when it comes to getting the right manufactured home insurance. One of the many challenges in acquiring a policy for mobile homes is finding a company that would be willing to cover a home that is ten years old. The reason being, a home of this age is more prone to damages and requires more maintenance. You must work with agents that are experienced in the field of mobile home insurance. The older the house, the harder it is to find manufactured home insurance. If you are trying to purchase a mobile home, make sure that you know how old the house is. Just like any other insurance, it will be more difficult to get coverage that is affordable for you. The premise here is that the mobile home has more than wear and tear issues. This results in the insurance company charging higher premiums because of more risk. Insurance companies believe that there would be a greater possibility of more claims rather than those who are purchasing a newer manufactured home. Extension of coverage for older houses compared to newer ones is more complicated and more expensive.
The insurance on these homes is very similar to what one would have on any other home. You can obtain personal property protection (for the loss or damage to personal property), family liability protection (against any judgments), guest medical protection, home and structure protection, plus living expenses for temporary housing if required because of damage to the home. A manufactured home, as defined by Mobile Home Insurance companies is a single family house, constructed in a factory, and built to the required federal code. The insurance for this type of residence it is virtually the same as for a regular house. When purchasing insurance for manufactured homes part of the cost will depend on where you live, as well as the construction of the home and its condition.
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