Manufactured homes, more commonly referred to as “mobile homes,” are looking a bit more like conventional homes today, with many having or installing everything from fireplaces to basements. Manufactured home insurance companies sell policies that provide coverage similar to that of regular homeowners.
Since many manufactured homeowners are typically lower income individuals, there can be some difficulties associated with obtaining insurance. These difficulties can include finding coverage for older manufactured homes, including some policy limitations such as issues relating to water damage.
Dealing with water damage
One of the major difficulties with obtaining insurance for manufactured homeowners has to do with coverage to deal with loss due to water damage. Some manufactured homeowner insurance companies may have exclusions with regards to water damage. This type of limitation may invalidate coverage for many mobile homeowners, including those that purchase older manufactured homes.
The three types of pressures caused by flooding are hydrostatic, hydrodynamic, and debris impact. Some of the damages that may occur to a manufactured home from the pressures include:
- Lateral displacement of walls and floors
- Cracking of wall finishes
- Saturation of soils causing footings to become unstable and fail, and
- Flotation causing the support system to become unstable or the anchoring system to fail
As difficult as it may be to find manufactured homeowner insurance, there are policies out there that will provide homeowners with an adequate level of protection.
According to the National Fire Protection Association (NFPA), the top cause of fires in manufactured homes is electrical distribution equipment, which means that most mobile home fires can occur more easily when no one is home, allowing the damage to spread unimpeded.
Your policy will provide coverage for your mobile home, along with other structures and belongings against specific risks. If you have a covered loss, you’ll have coverage for the cost to repair or replace the damaged property, minus depreciation, up to the amount of insurance you carry. The policy also provides coverage for common perils like:
- Fire or lightning
- Theft or vandalism
- Wind or hail
- Damage from frozen plumbing, and
- Spoilage of refrigerated products due to power outage
Manufactured home insurance companies can provide you with quotes on a policy that will aid you if you ever experience any damage or destruction of your precious property. Speak to an agent today!