How To Avoid Getting A Raw Deal When Buying Manufactured Homeowners Insurance
When buying a manufactured homeowners insurance policy, there are a few things you must put into consideration. When you know the right questions to ask, you can confidently get a policy that suits your needs best. The following are factors you can consider if you're not sure of what you should go for.
1) What things does the policy cover?
If the policy states that it will cover water damages, is a leaking roof considered as water damage? And if your TV set is stolen, does the company compensate for the new price of the TV or the depreciated price instead?
Asking these questions will eliminate surprises if something happens. When you know what you're going for, you will be prepared for the best. What's more, you can always compare various homeowners insurance products to see which ones do you the most favor.
2) How much property should you protect?
This also determines the kind of budget you'll spend on a manufactured homeowners insurance. If you're reluctant to protect every component of your mobile home, just pick the essential things that matter to you and have the policy cover them.
3) The Re-building cost
Your policy should cover the re-building cost of your home, and not the buying price. You see, after a disaster strikes, the re-building cost can be quite higher than the price you initially bought the mobile home for.
5) Are they reliable?
The people insuring your manufactured home must be reliable. You will come across several low rates in the market. But first, check if they are licensed. Ensure they're listed with the BBB too.
6) How are claims Handled?
In the event that something happens, how are claims handled? Are payments disbursed on time? Is the company working 24/7? How exactly will filling a claim affect your premium or even renewal rate? If you find yourself asking such questions, check their reviews on Facebook to see what customers are saying about them.
5 Mobile Homeowners Insurance Providers you Can Check Out
1) American Modern
With over 45 years in business operation, American Modern has continued to offer comprehensive policy cover to mobile homeowners with various needs. Whether you own, rent or occupy a home seasonally, you can find a policy that covers all your needs.
If you find that their comprehensive cover has more than you need, you could mix and match the features instead. So for example, if you want to cover against physical damage to the property and not personal property, they can provide that too.
Under the rental program, they accept both residential and commercial units. Personal property and liability is included. Their official web address is http://www.amig.com. You can also reach them through 866-884-6167.
2) Foremost Insurance Group
Foremost is considered one of the leading insurers of mobile homes in the nation. They have a diverse range of insurance products to meet the demands of a mobile homeowner.
Their comprehensive cover will take care of most types of losses including fire, vandalism, natural disasters and so forth. They also have an optional replacement program where one can choose whether they want their homes to be compensated as per the going rate of the market or depreciated price.
Liability coverage is also available, plus the extras. Getting a quote is so easy as you'll be required to visit their official site at www.foremost.com, or call 1-800-527-3905.
3) Progressive Insurance
They offer their insurance policies based on the model of mobile home you own. According to Progressive, a mobile home insurance can cover detached structures (such as an extension to your main home), personal belongings, living expenses (in case your home is severely damaged), and injuries.
Typically, payment options are also very affordable as they only cover your needs and budget. The inflation endorsement feature automatically adjusts your insurance limits in accordance to the market. Watercraft endorsement extends personal liability or medical payments to small sailboats etc.
Basically, they have everything you'd want. Their official web page is www.progressive.com. You can also call them on 1-855-347-3939.
4) American Family Insurance
They cover damages that stem from vandalism, natural disasters, and theft. Their policy coverage is dependent on their terms and conditions, plus they vary with states. However, personal property policy is for specific items only. Under this arrangement, you'll be covered against loss of electronic items such as computers, TVs, cameras and other miscellaneous items.
Their official web page is www.amfam.com. You can also call them on 1-800-692-6326 to get a quote.
5) Farmers Insurance
At Farmers, they believe that mobile homes are different from regular homes, which is why owners need something that can be customized according to their needs. Of course they provide for natural disasters too. Theft, vandalism and liability coverage are provided.
They also take care of extras such as credit card/check forgery, food spoilage, emergency removal services and so forth. And regardless of whether or not the fault was caused by a human being, some coverages may require that you pay deductibles. However, the company will typically try to recover the cost from the person who caused the damage.
Check out their official webpage on www.farmers.com. Alternatively, you can call them through 1-800-435-7764.
Compare the services that each of these companies offer before buying their insurance policies. You want to get the best, at the least possible price.
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