Insurance is an essential consideration for your manufactured home. While you want to believe our investment will always keep us safeguarded, sometimes we are not able to think about what we have to do to protect our homes and the things that are inside.
Factory built homes have changed greatly in the past decade which is why lots more people are choosing to protect their manufactured homes.
Part of this process consists of the purchase of a manufactured home insurance policy that includes insurance coverage for your home and adjoining structures, personal property, family liability, medical expenses for any guests who may experience injury while they are on your property, and additional living expenses for you and your family if you should need to have temporary housing while your home is going through repair or reconstruction.
Most homeowners insurance plans used on manufactured homes will cover structural damage or problems. It is crucial to review your policy carefully since some policies might have to have an additional rider or another policy to cover more structures such as sheds or garages.
Before you decide to choose an insurance policy you need to take into account the different kinds of events that may happen that could cause serious damage to your home and personal belongings. Listed below are some common life events which may occur and call for you to have insurance to cover:
- Fires
- Lightening Strikes
- Frozen pipes
- Vandalism
- Weight of ice and snow
- Smoke damage
- Water damage
- Hail
Normally, insurance companies make exclusions for “acts of God” such as earthquakes, floods, fungus, bacteria or dry rot. In these cases you would need to obtain a rider or additional policy to be able to assure protection against these events.
It is also a good idea to ask the insurance agent what events fall under “acts of God” since some companies might include lightening, hail and even snow and ice under that classification.
It is vital to discuss each of the options in coverage with your insurance agent. If you’ve got a home that is over ten years old it is a good idea to discuss the feasibility of choosing a policy with actual or replacement cost provisions.
Another superior coverage to consider for a manufactured home is transport insurance. The transport insurance riders normally cover any damages which may occur while it’s being shipped from the manufacturer to the site or from location to location.
