Reader’s Question:

My partner and I are thinking of buying a mobile home but we have friends who say mobile homes are not safe because they are not well-made. The biggest concern we have is that can the mobile home withstand hurricanes here in Florida?

Justin

Coral Springs, FL

Among the misconceptions surrounding manufactured homes would be that they are not safe and not well-made as your friends believe. But so that you and your partner can open the door to all the benefits of today’s value, you have to know the facts. Fact is one out of five homes sold in Florida is a manufactured home. And that is no wonder because today’s manufactured homes offer you the best in quality, affordability, as well as value.

You should know that all manufactured homes built since 1976 must meet the strict performance standards set by HUD, or the Department of Housing and Urban Development and this will assure you of first-rate construction. The requirements of this department are comparable to the Standard Building Code for site-built homes, which requires the highest standards in every phase of construction. Also, every manufacturer has its own quality assurance programs, and each home’s design and construction is carefully inspected and approved by an independent outside source. In addition, Florida manufactured home is designed to withstand even hurricane-force winds. Thanks to strict building codes, a Florida mobile home may the safest home you and your partner can buy.

Tags: mobile home, mobile home insurance, mobile home loan quote

Reader’s Question:

We recently purchased our first mobile home insurancepolicy in Arkansas. At the closing, our attorney suggested we consider an umbrella policy. Is he being melodramatic? What are your thoughts?

Erin

Little Rock, AR

Congratulations Erin!

Investing in your first mobile home insruance is a big step. Your lawyer is probably being cautious and has your best interest at heart. A typical homeowners policy generally has liability coverage with a limit of $100,000.00 per incident. As you probably know, mobile homeowners insurance covers accidents involving you and your family, your house guests and your pets. That’s a fair amount of exposure.

Suppose there is a household accident resulting in a personal injury. The purpose of the umbrella added to your homeowners insurance is to deal with today’s ever-rising medical cost and increasing legal fees and unforeseen, catastrophic accidents. Many homeowners derive peace of mind with the umbrella. The premium cost is reasonable and compliments your homeowners policy nicely.

You should discuss this additional coverage with your mobile home insurance agent in rkansas, who will help you determine a recommended amount of coverage and premium cost. Added to your homeowners policy, this umbrella will protect you, your home and your family. As you prepare to enjoy your new home, please take the time to read and understand all the coverage and conditions explained in your homeowners insurance.

Are you over paying for insurance on your mobile home?  Most insurance carriers either do not offer mobile home insurance or if they do they charge an arm and a leg for it…as you know.

What can you do to lower your insurance premiums?

1. Shop around….ya I know, that is what you are doing now.
2. Combine your coverages with one carrier….move your auto, life, health etc to one company
3. Carry a high deductible amount…the higher the better. You really only want to cover your mobile in the case of a total loss anyway. You would not want to make a claim less than $1500 if you can help it.  Your premium will cut in half just by raising your deductible.
4. Ask about discounts - adding a security light outside, adding covered parking outside, moving the structure away from trees etc. could result in a discount in your premium.
5. Pay down what you owe on the mobile….if the insurance company sees you own a large part of the structure they are more likely to give you a discount on the premium.