By Durand. Manufacturer Home Insurance. Published at Thursday, February 15th, 2018 - 19:21:38 PM.
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.
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.
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.
Manufactured home dealers provide manufactured homes that fit almost everyone?s tastes and pocket. Some are designed for those on a limited budget. Other models offer luxurious features at a higher price. The home can be a single-section unit or a large multi-section unit. You have the option of choosing from a wide variety of home styles. There are more than a hundred and fifty companies dealing with manufactured homes and more than four hundred factories located throughout the United States which manufacture them. When buying a manufactured home, you have to keep the prices in mind. The sales price for a new manufactured home ranges from under $25,000 for a single-section home with basic features to prices in excess of $100,000 for a deluxe multi-section home. Depending on the location and excluding the cost of land, construction cost per square foot for a new manufactured home averages anywhere from 10 to 35 percent less than a comparable site-built home. A manufactured home is the answer if you are looking for a first home, a larger home for your growing family, or the perfect retirement home.
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