By Durand. Manufacturer Home Insurance. Published at Thursday, February 15th, 2018 - 19:21:38 PM.
The amount and degree of coverage provided by a manufactured home insurance policy can vary dramatically between insurance providers. It is very important to compare policies before buying, what might look like a bargain at first glance could end up costing you thousands of dollars in the event of a claim. That is particularly true when physical damage coverage is concerned. Some policies, called peril policies, provide basic coverage for only specific causes of loss. Policies that automatically cover most direct, sudden and accidental perils are often called comprehensive policies. These cost more than peril policies and list the few causes of loss that they do not cover in the policy.
It does not make sense to pay 30% more for the exact same insurance that other homeowner's are getting at wholesale prices, does it? Of course not. Yet many homeowners are doing just that, month after month, year after year, simply throwing money away and getting absolutely nothing in return for it. If you live in a manufactured home there is no reason in the world for you to be paying as much as you are for your home protection - not when there is a simple little secret that will cut your cost overnight...a deep, dark little secret that your broker hopes you will never find out about. But before we get to the Big Secret that's giving your broker nightmares, let's look at a few more ways for you to save money on top of the 30% savings I will share with you in a moment.
When getting manufactured home insurance, it is strongly suggested that you go to companies who specialize in manufactured home insurance. It would be a mistake to turn to just any insurance company. First off, you are not sure if they know everything that they need to know in order for you to receive the best coverage at the best price. The risks involved and the type of coverage is different from a conventional home or an automobile insurance policy. To make sure that you understand what manufactured home insurance is all about and to have a macro and micro view of the standard coverage, this article will summarize everything you need to know about it so that you will not get caught up with an agent who is just trying to beat around the bush and then you end up not really understanding what he is offering you. Educate yourself with this information.
What Makes a Manufactured Home Different. Since mobile homes are built in factories, they conform to US government's Manufactured Home Construction and Safety Standards as well as state and local housing codes. They are also built on a steel chassis and towed on wheels to their site. Ever since June 1976, factories making Manufactured Homes follow strict government guidelines monitored by the US Department of Housing and Urban Development (HUD). This ensures that your house is built to last and the materials used pass a high quality standard. There are two major differences between a conventional home and a mobile home. First, Manufactured Homes are built in factories and are far more economical than conventional ones. Since they are mass-produced, material and labor cost is greatly reduced. The second major difference is conventional homes are built on site providing a sturdier base. This does not mean that a mobile home is unstable. Part of the HUD rules and regulations about manufactured homes is that it should be attached to a permanent foundation. This is achieved by preparing an on-site base for your manufactured home, known as tie-downs, ground anchors and block foundations that greatly help in the stability of your home.
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