Published at Wednesday, April 18th, 2018 - 12:06:48 PM. Manufacturer Home Insurance. By Durand.
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.
You can save more on your premiums (by as high as 25 percent) if you are able to raise the usual $500 deductibles that are being recommended by most insurance companies. Getting lost already? Getting confused with what deductibles mean? In the terms of an insurance policy, it is defined as the cost by which you shell out towards a loss before your claim is reimbursed by your insurance company. Just in case you are not aware, you should know that there is a separate deductible for different types of damage that your house may incur. This is true especially for those that live in disaster-prone localities. Whether you live in an area that is often visited by windstorm, vulnerable to hail storm, or situated along a fault line then you must have separate deductibles for the specific possible-damage.
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