What factors influence the cost of manufactured home insurance?
What is Manufactured Home Insurance?
Manufactured home insurance is a form of property insurance that helps protect manufactured home-owners from loss and damage due to events such as fire, vandalism, and theft. It may also provide additional coverage for items inside the home like furniture, electronics, and appliances.
What Does Manufactured Home Insurance Cover?
Manufactured home insurance typically covers:
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- Dwelling Protection: Covers any damage, loss, or destruction of both the physical structure of the home and the permanent fixtures, such as a roof, walls, and flooring.
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- Personal Property Protection: Covers loss or destruction of your personal belongings, such as furniture, electronics, and appliances.
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- Liability Protection: Covers you against lawsuits and property damage caused by you or anyone within your home.
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- Additional Living Expenses Coverage: Covers additional living expenses should you have to relocate while repairs or rebuilds of your home are completed.
What Does Manufactured Home Insurance Not Cover?
Manufactured home insurance typically does not cover:
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- Flood, Earthquake, and Other Natural Disasters: These will require separate policies.
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- Settling or Shifting: Certain states may require this coverage in order to cover damage related to the settling or shifting of the home.
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- Mechanical Breakdown: Claims from mechanical breakdown of components, electrical systems, and utility systems may not be covered.
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- Infestations: Coverage for insect, rodent, and other pest infestations may require additional coverage.
How Can I Get Manufactured Home Insurance?
You can purchase manufactured home insurance through a licensed agent or through an online marketplace. It is important to do your research and make sure the coverage you choose fits your needs and budget. Be sure to review the policy’s exclusions and limitations. Additionally, you can purchase additional riders or endorsements to enhance coverage.
It is also important to note that most insurance providers will require an inspection of your manufactured home before issuing a policy. This is to ensure that the home meets the provider’s safety standards and offers enough protection to warrant coverage.
Manufactured home insurance can help protect your home and your belongings. With the right coverage and policy, you can rest assured that your home is secure.