Similar to regular homeowners insurance, manufactured home insurance provides financial protection in the event your home is damaged. If you plan to purchase a manufactured home, be aware that some mortgage companies or mobile home communities require you to purchase such insurance. These policies usually vary in price and protect both your home and your personal belongings. Manufactured home insurance policies are often cheaper than traditional home insurance, but it’s always important to understand and read through the different policies to make sure you have your assets properly covered. Even if some policies are a drain on your budget, you should still purchase insurance so you do not put yourself at risk for major financial losses. Here are four tips for insuring your manufactured home.

Find a Cheaper Insurance Deal

Comparing and finding an insurance quote that does not exceed your budget can be difficult, as many insurance providers do not post their quotes online. The cost of insuring a manufactured home usually depends on several factors – the area in which the home is insured, the coverage amounts and the age. If you want to avoid the tedious process of comparing quotes, you can contact an agent in your area. 

Check What the Insurance Covers

The insurance you purchase should cover your home and belongings and include liability protection. You have the option to customize your policy with additional insurance that is not included in a standard policy. For example, you can purchase additional insurance for debris removal and water damage cleanup to supplement the policy you purchase. Consider the possible scenarios that could happen to your home, such as fire damage, and make sure you get the coverage you need. There are many different ways to tailor a policy to your needs – from homeowners insurance to personal property.

Contact Experienced Insurance Providers

It’s best to choose an insurance provider that has experience dealing with manufactured homes. If you contact someone who specializes in manufactured homes, you will most likely get the right coverage for your needs. When you are looking to purchase insurance, you need to be aware that various factors, such as the geographic location of your home, will have an impact on your policy. If you are unsure of what manufactured home insurance policies are available on the market, you should consult a professional.

Insurance for Older Manufactured Homes

It can be difficult to insure an older manufactured home, especially if it was built before 1976, when the Manufactured Home Construction and Safety Standards (MHCSS) were not in effect. Older homes may be considered dangerous or unreliable, which affects the amount of insurance coverage and the price of the policies. Therefore, if you are looking to make a down payment on a manufactured home, consider the age of the home when purchasing your insurance policy.

Invest with MCM Homes

MCM Homes has the best resources and investment options to help you succeed. With a team that has years of experience investing in manufactured homes, we can guide you on your very own journey. Contact us today to get started investing with MCM Homes.