It’s a huge step – buying a new home. There are so many things to consider. Getting off on the right foot will help your homeownership journey go smoothly. Just in case something happens, a smart way to protect your home and your family is with home insurance. You never know when unexpected events such as fire or a natural disaster will happen.
One of the smartest moves a homeowner can make in this day and age is to go with the purchase of a manufactured home over that of a site-constructed house. For one thing, it can be done for about half the cost and in an expedited fashion. But even with that kind of affordability, you’re still guaranteed high quality products, lots of room if you choose the larger floor plan, and numerous options for customization and personalization.
To get you started in the right direction, we’d like to offer a few tips where manufactured home insurance is concerned.
Home Insurance – Is It Important? What Is It?
You may also hear this referred to as hazard insurance, but home insurance protects you from damage and losses where your property is concerned. Threats, exposure to danger, unimaginable perils – in one way or another, every home is vulnerable. Some of these perils can include the following:
- Burst pipes
- Fire and more
Keep in mind, however, that mortgage insurance and homeowner’s insurance are not the same. Your property is protected by home insurance.
Though it’s just a good idea to have homeowner’s insurance, it may actually be necessary to comply with requirements by your mortgage lender. You may, in fact, have to offer proof that you have an active policy.
Depending on the specific policy, manufactured home insurance may differ from basic homeowner’s insurance on a site-built home.
Site-Built Home Insurance Versus Manufactured Home Insurance
Between insurance for a site built home and manufactured home insurance, there are some similarities. Liability for someone injured on your premises, property damages, etc. are typically covered. To each home type, however, insurance providers will tailor policies. One thing taken into consideration is the replacement cost versus cash value of your home. It’s crucial that, to be protected against any unforeseen circumstances, you do plenty of research for deciding on who to go with for your manufactured home insurance.
What to Look For
There are some crucial details to look out for when researching insurance for your manufactured home is the following:
- Debris removal
- Fire department service
- Additional living expenses
- Medical payments to others
- Personal liability protection
- Multiple perils (specifically double check for coverage on events like earthquakes, floods, and various natural disasters)
- Replacement cost or actual cash value
- Physical damage protection
To make sure you get the kind of coverage that’s perfect for you, talk to more than one insurance provider.
First, You Need to Purchase Your Manufactured Home
Once you’ve decided to become a homeowner, check out Michigan Home Zones. We will assist you with your entire home building process and help you achieve the house you have always envisioned. Don’t put off owning the home of your dreams one moment longer.
Please contact us today to discuss about the manufactured home you have in mind.