Published at Wednesday, April 18th, 2018 - 12:07:12 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.
Secondly, a good insurance policy will include liability insurance. Liability coverage protects you, the homeowner, if someone gets hurt on your property or in your home. It can pay for medical expenses and costs associated with the injury. A good policy will also help pay for legal defense in the event that you are sued. It should also cover damages made to the property when the accident occurred. However, it does not cover injuries to you or your immediate family living in the home. To determine the amount of liability coverage that you might need, think about how many people will be in and out of your home on a daily basis. If you have teenagers that are always inviting friends over, liability insurance is a must! It is important to try to make your home and property as safe as possible. Keep the porch and walkways in good repair. Always have adequate lighting and keep your home free of excessive clutter.
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