A Brief Look At What Manufactured Home Insurance Companies Have To Offer
Mobile and manufactured home insurance has grown in popularity over the years. This growth has mainly been driven by the ever increasing number of people who are opting to live in manufactured homes. This has therefore also seen the number of companies offering homeowners insurance increase as well. As insurance policies adjust so as to accommodate this shift in the housing market, it is important to appreciate what these policies cover and what they don’t.
First and foremost, it is worth mentioning that there are two primary types of mobile homes when you are talking about insurance policies. These include modular homes which are defined as pre-fabricated homes which are transported in pieces and then put together by contractors at the site. These homes are mostly assembled to a foundation that’s permanent. There are also mobile homes which are fully constructed in a factory before being fixed on a permanent steel chassis. They are usually towed to the site and are rarely attached to a permanent foundation. As a rule of thumb, if you have a modular home, you are better off purchasing a standard homeowners insurance. On the other hand, if you own a manufactured or mobile home then you should buy a manufactured or mobile home insurance.
Just like the normal home insurance coverage, manufactured or mobile home insurance does protect your mobile home and personal property from loss or damage that’s been caused by covered perils. A typical insurance policy for a mobile home will cover perils such as vandalism, burglary, storms, wind, rain, tornadoes and fire. Depending on the insurance company that you engage, some of them will offer you more comprehensive coverage than others. Some of the additional perils some of them may afford you include landslide, falling objects, explosion, off right of way collision, collapse from the weight of snow and ice, damage by wild or stray animals, water damage from bursting pipes as well as hail and wind amongst a whole list of others. Always make sure you know your location well, if it is an area that’s prone to landslides or flooding then you should make a point of obtaining additional cover for the noted risk.
Your insurance policy should also provide you with personal liability coverage which should protect you from judgments or lawsuits if you are found to be the cause of someone's injuries. In this regard, you should make sure that you understand what your insurance policy says about personal liability and what the limit is. If you feel that the dollar limit is too small, then make plans to purchase more so as to be on the safe side.
In addition to mobile home insurance, some of the more comprehensive insurance policies may include additional coverage such as food spoilage coverage, Fire department service, emergency repairs after a loss, credit card and check forgery, emergency removal service as well as debris removal. It is worth mentioning that most insurers tend to offer this as an optional coverage. Always make a point of going through your policy thoroughly and if you don’t see a cover that you want, engage your insurance agent or company and inquire if the coverage can be added using a rider.
As you look for the most appropriate coverage, keep in mind that the amount of coverage that you choose is dependent on the value of your manufactured home. Make sure that your home is covered for the full replacement cost. You should also ensure that the deductibles are reasonable, it should be an amount you can pay when called upon to do so. In the event that you have another policy with the insurance company, check if they offer multiple policy discounts.
Here are some of the popular manufactured home insurance companies in the market. They include but are not limited to the following:
Other Programs: with years of experience, the company does offer a variety of products such as Adult Park full coverage program, Adult Park No Wind Coverage program, Private property full coverage program as well as private property no wind coverage program
2) Foremost Insurance Group
Mailing Address: 5600 Beech Tree Lane, Caledonia, MI 49316
Other Programs: they have various coverage options to choose from such as hobby farm or ranch liability, Incidental Business liability, water damage from sewers and drains, Earthquake Coverage, Personal liability coverage on additional residences , Scheduled personal property coverage etc.
3) Allstate Insurance Company
Mailing Address: 2775 Sanders Road, Northbrook, IL 60062
Other Programs: the company does offer optional coverage for the home such as personal property reimbursement provision, trip collision coverage, vendors single interest coverage, fire department coverage and business pursuits coverage amongst others.
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