Manufactured homes tend to sustain more damage from storms and weather because they are generally less secure than permanent residences and most conventional houses. They also tend to have a high number of building contents claims, the reason being that they often are more accessible to theft. You can help your clients reduce their manufactured home insurance costs by informing them of ways in which they can reduce their exposure to these particular elements.
An inspection can help disclose certain issues and concerns
Having an inspector view the property for issues in security can decrease theft concerns. The inspector may find there are aspects of the home that make it more susceptible to flooding, fires or other types of damage. For example, adding more anti-windstorm technology in the roof could make it safer plus, performing an inspection can be relatively inexpensive.
Make recommended safety improvements
Window replacements will likely save money in energy costs each month. Windows can often be insufficient in older mobile homes, and any improvements can make the home’s value go up, along with lowering insurance premiums. The one-time cost to replace a roof or window can easily be covered through home equity financing, building up the value of the property without a lot of added expense.
Update old security systems
Avoiding a break-in can make the property and tenants/owners feel more secure on a daily basis. Security windows, strong doors, locks and alarms can all reduce the chances of theft and possibly reduce manufactured home insurance costs. Helping clients to reduce their number of claims for any period of time will also pay off in savings. Helping them to avoid claims from theft in an insurance policy will often significantly lower their premiums.
Choose residency in a secure community
Not everyone has a choice in which community in which they live in, but suggesting communities that are more secure than others could provide some positive options. Make a list of communities offering space in the area, as there often is more than just one to choose from. Speak to clients about the relative cost to insure in one area versus another as a possible consideration. You may also help them to find communities located in a safer area geographically, meaning less exposure to risks of flood or fire.