Published at Sunday, April 15th, 2018 - 21:07:26 PM. Manufacturer Home Insurance. By Durand.
Thousand of homeowners are having a hard time trying to find the right manufactured home insurance. In the past, manufactured homes were called mobile homes, although today we have a lot of types and classes to choose from rather than the previous mobile homes we were accustomed to. These new house types are being built in factories and need to conform to Federal standards, like the HUD code (or Housing and Urban Development code) as well as conforming to state and local building standards. Using steel frames as a foundation, these latest home designs can also be transported on wheels and are guaranteed by the manufacturer to conform to all codes. The good thing about these new homes is the fact that they are actually low cost compared to custom home types or site built homes.
There are attached difficulties when it comes to getting the right manufactured home insurance. One of the many challenges in acquiring a policy for mobile homes is finding a company that would be willing to cover a home that is ten years old. The reason being, a home of this age is more prone to damages and requires more maintenance. You must work with agents that are experienced in the field of mobile home insurance. The older the house, the harder it is to find manufactured home insurance. If you are trying to purchase a mobile home, make sure that you know how old the house is. Just like any other insurance, it will be more difficult to get coverage that is affordable for you. The premise here is that the mobile home has more than wear and tear issues. This results in the insurance company charging higher premiums because of more risk. Insurance companies believe that there would be a greater possibility of more claims rather than those who are purchasing a newer manufactured home. Extension of coverage for older houses compared to newer ones is more complicated and more expensive.
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