Published at Monday, April 16th, 2018 - 23:08:41 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.
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.
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