A manufactured home has some unique characteristics, so why would you insure with a policy designed for some other type of home? An insurance product designed especially for manufactured homes will benefit you in the end because these policies are designed with the coverage that you need at rates that you can afford. If there is ever damage to your home, you want to make sure that your claim is handled by a company that has experience in handling manufactured home claims.
What Is Covered
When you purchase your manufactured home policy, be sure to ask about the types of losses that are covered. Not all policies are the same, and if you do not ask, you could be getting a policy that covers only a limited selection of perils. The best coverage forms will provide protection for all causes of loss unless there is an exclusion that applies.
How Much Will Your Policy Pay?
You may not be able to buy a replacement manufactured home for the same price as your original purchase, or worse yet, your existing mobile home may have depreciated over time. It is important to make sure you have a replacement cost policy that will pay for the full replacement value of your home regardless of the current value.
Your Liability Risks
Regardless of the type of home you own, your actions could make you legally liable for damages at some point due to negligence. If someone makes a claim against you for injuries or damages, a manufactured home policy can afford protection to you for this type of claim. Your policy will defend and indemnify you by paying for legal fees and any settlements that might be required. It can even pay for medical bills if someone is injured while visiting your property regardless of who may have been at fault for the injuries.
If you own a manufactured home, or are considering the purchase of one, be sure to contact a professional agent today to examine your coverage options. You may be surprised at the affordability and coverage options that are available.