Published at Tuesday, April 10th, 2018 - 23:34:59 PM. Manufacturer Home Insurance. By Durand.
Another difficulty is finding the right insurance company that even offers mobile home insurance. Many companies actually do not offer insurance for manufactured homes because as mentioned earlier there are many risks and greater losses associated with it compared to other types of homes. It is these risks and losses that are negatively translated to higher expenses for the insurance companies. Resulting in the form of higher premiums for homeowners. Since this is the case it often results in fewer insurance companies providing this type of coverage and when there is less competition, the prices are also higher. Competition is always a good thing because it helps the consumer save money.
There are several types of home structures and naturally there are different policies for varying residence types. For manufactured homes, the policy usually covers the entire structure. However, some manufactured home insurance policies will or may require an additional or optional policy for structures such as garages and sheds. It is also important to consider what type of unfortunate events that could occur. These events could result in serious damage to your home and belongings. The most common events include fire, lightning, frozen plumbing, vandalism, weight of ice and snow, smoke, explosion and hail. Normally insurance companies exclude "acts of god" like earthquakes, floods and other conditions such as fungus, bacteria, or dry rot. This would mean you need to purchase an additional policy in order to be protected against these events.
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