What Are The Manufactured Home Insurance Risk Factors?

Traditional Homes Versus Manufactured Homes

Blanchard Insurance serves Longwood, FL and specializes in homeowners insurance and for all categories of homes including manufactured homes.  Unlike the traditional home, (AKA stick- built), which is built on site, the manufactured home is primarily built in a factory,  with less building materials and does not have a foundation. However, the manufactured home costs more to insure.

Further, there are financing differences between the manufactured home and the traditional home.   A mortgage loan finances conventional dwellings while a manufactured home, which depreciates like property, traditionally is financed as purchasing personal property over a period up to ten to fifteen years. 

However,  Fannie Mae and Freddie Mac do offer mortgage-backed loans (AKA conventional loans) for manufactured housing.  There are different underwriting standards for a manufactured house as recognized by the FHA. 

Florida Regulations of Manufactured Homes

1.   The construction of manufactured homes must be built in according to the stringent U.S. Department of Housing and Urban Development (HUD) standards.

2.   Manufactured home installed on the owner’s property will be taxed as real property and not personal.

3.   The site of the manufactured home must be must .be certified by the Division of Motorist Services.
 
Risk Factors

Unlike the traditional home, manufactured homes have specific  risk factors:  

1.  Manufactured homes weigh less than stick-built homes which in itself is a risk factor because of the winds, such as hurricanes.  The homes must be built to satisfy the applicable Wind Zone standards of the county where the home is installed.  Therefore,
manufactured homes must be tied down or strapped down to the foundation.

2,  Fire in a manufactured home spreads faster than a traditional home.

3.   Greater risk of broken pipes and theft claims

4.   Zoning land restrictions

5.   Compared to traditional homes, the manufactured home is harder to sell. 

The agents employed by Blanchard Insurance of Longwood, FL are experts in manufactured homes.  Please call for an interview!

What is the Difference Between Home Insurance and Manufactured Home Insurance?

If you are looking to purchase a home insurance policy, you may notice that you have the option of buying a  home insurance policy or a manufactured home insurance policy. Those with manufactured homes often ask us at Blanchard Insurance, serving the greater Longwood, FL area, what the differences are between regular home insurance and manufactured home insurance policies. 

For the most part, home insurance and manufactured home insurance cover the same type of events. Your home or manufactured home is protected against wind damage, fires and flooding caused by pipes or appliances. The belongings in your home are also covered against these damages as well as theft. And both types of policies offer legal protection if you own the land around the home as well. 

The biggest differences between home insurance and manufactured home insurance policies is simply the names and the price. As a general rule of thumb, manufactured home insurance is more costly, because manufactured homes sustain greater damage in the event of a fire, hail storm or strong wind gusts. As such, most people will not notice any difference if they are moving from a home insurance policy to a manufactured home policy, or vice versa, should they need to find out what is covered and not covered or should they need to file a claim. 

If you are looking to purchase either a traditional home insurance policy or a manufactured home insurance policy in the greater Longwood, FL area, Blanchard Insurance can help. Call us today for a free estimate or to get answers to the questions you have. 

Is Mobile Home Insurance Worth the Investment?

When it comes to keeping a roof over your head, there are certain precautionary steps you should take. For starters, regardless of the type of home you have, it is of the utmost importance that you protect it with proper insurance. And while many people don’t think that mobile homes need insurance coverage, they are actually misinterpreting what this type of coverage can do. The most important thing it can do is provide peace of mind in knowing that if something were to go wrong, the accompanying expenses may be covered by the insurance policy. For example, if a mobile home is destroyed in a fire, having insurance will prove to be of the utmost value. 

Why is mobile home insurance important?

A home is a home, right? Whether it be a brand new 5,000 square foot single-family home or a 2,500 square foot mobile home, a home is where you rest your head at night and spend time with your family. This is why it is so important to protect it with the right insurance coverage. If you are already living in a mobile home or you are thinking about buying one, you need to speak with an insurance specialist to help you determine the level of mobile home insurance coverage that will be sufficient for you. Mobile home insurance is also important because it provides coverage if someone is injured on your property. 

To learn more about the benefits of mobile home insurance and to speak with a qualified agent who can help determine your exact insurance needs, please contact Blanchard Insurance serving the Longwood, FL area. 

A Tight Budget Should Not Prevent Life Insurance

One of the biggest issues people have when someone in a family passes away unexpectedly is the lack of financial protection. The issue then becomes catastrophic when the person who dies is the main income earner in the family as well. The cost of burial as well as the loss of income combined can send a family in a spiral they won’t pull out of. Protection from this kind of situation in Longwood, FL and elsewhere is the main goal of life insurance and why everyone, even if on a tight budget should have a life insurance policy in place. It’s not about the holder; the coverage policy is protection for those left behind whom one cares about.

Life insurance in Longwood, FL doesn’t have to be extremely expensive. A basic protection policy under a term life model can be extremely affordable, essentially equal to the cost one pays for gourmet coffee from a cafe in a month buying a cup every day. And the protection benefit can be huge. Not only can a good life insurance policy take care of the immediate expenses of burial, which can be at least $10,000 in many cases, it can also leave a financial net for a family that can take care of them for multiple years afterwards.

The staff at Blanchard Insurance can easily answer educational questions about how life insurance works, choices available, and budget-sensitive options for those who need coverage but have to make a dollar stretch. Again, protecting your family doesn’t need to break the bank; it’s quite possible to insure their wellbeing in case of an unplanned event. Call Blanchard Insurance today or email them to find out more!

How to Build a Manufactured Home Insurance Policy

Due to the reduced costs of ownership and the overall convenience that goes into building this type of housing, manufactured housing is quickly becoming one of the most popular types of housing in the country. When buying a manufactured home, you will be taking on a large asset that needs to be properly insured. For those that are in the Longwood, FL area there are many factors that need to be decided when building a manufactured housing insurance policy.

Property Coverage

When you are looking for a manufactured housing insurance policy, the one thing that you will first need to consider is your property insurance needs. If you have a mortgage or other loan on your property, you will likely be required to have a property insurance policy. This type of policy will provide you with insurance coverage in the event your home is damaged or destroyed by a storm, fire, or other calamity.  This type of insurance could also cover your personal property in the event of damage or theft.  

Liability Coverage

All people that on any type of home should also consider getting a liability insurance policy on their manufactured housing insurance policy. When you get a liability insurance policy, you will be protected in the event someone is injured in your home. Since you are likely to be held responsible if they are injured in your home, this could provide you with extremely valuable Insurance protection.

For those in the Longwood, FL area that are buying a manufactured home, choosing a manufactured housing insurance policy can be complicated. Because of this, speaking with Blanchard Insurance could be a great idea. Blanchard insurance is an experienced consumer insurance agency that can help anyone better understand their insurance needs and get into an adequate policy.

Should I Have Personal Property Protection for My Mobile Home?

You likely already have home insurance on your mobile home, which means you have a way to pay for the physical structure and the grounds that surround it if something goes wrong. However, that doesn’t necessarily cover all of your things that happen to be inside the structure. If you live in Longwood, FL, do you really need to have personal property protection? Keep the following in mind from Blanchard Insurance before you make a final decision. 

How It Works 

From theft to destruction from major storms, there’s a lot that can happen to your possessions. And even if you don’t have a lot of luxury goods, that doesn’t mean that you would want to purchase new things in the event they were damaged or destroyed. Having personal property protection means that you have a barrier in place from losing the items that are most important to you. From expensive jewelry to your television to the family computer, your mobile home probably contains a lot of items that you wouldn’t want to lose. 

Ask Yourself 

Personal property protection isn’t required to have on your mobile home, so it’s completely up to you. Ask yourself what you would do if you were to lose everything tomorrow. If the answer is that you can find a way to put everything back in place without anyone’s help, then you don’t need personal property protection. But if it would be difficult to do for your mobile home in Longwood, FL, it’s time to give Blanchard Insurance a call. Nothing is worse than feeling like you’re on your own after a terrible disaster. We can help you decide how to get you the best possible policy that only covers the things that you care about!

Will My RV Insurance Policy Cover the RV If I Lend it to a Friend?

One of the questions that we at Blanchard Insurance, serving the greater Longwood FL area, are asked about RV insurance is whether the insurance policy will cover the RV if it is lent to a friend or family member. If you have an RV that you are not planning on using one weekend, you may be thinking about letting a loved one borrow it. Here is some insurance information you should be aware of before you do it. 

Read Your Policy Carefully

Some RV insurance policies will cover friends and family who are borrowing or using your RV if you give them permission to do so. Other policies will not cover these people. If your RV will not cover other drivers, it will be stated clearly in the policy that you are not to lend or loan the RV out and that anyone not listed on your policy is not covered under your insurance policy. 

Never Rent the RV Out

If your policy does cover other users, it will never cover other users if you are renting the RV out for money. In this case, you will be deemed to be running a rental business, even if you are only renting the RV out to a family member or relative. If money is exchanged so someone else can use your RV, your RV insurance policy will not cover them.  

Obtain a Short Term Floater Policy

If your policy will not cover friends or family, this does not mean they cannot borrow your RV. In order to use the RV and be fully covered, they will need to obtain a short term floater policy from their insurance company for the dates that they plan on using the RV. This protects both you and them. 

If you are looking to obtain RV insurance in the greater Longwood, FL area, contact Blanchard Insurance today. We can help you find an insurance policy that covers all of your RV needs. 

What Does Home Insurance Cover?

Most people know that homeowners’ insurance is essential when making a home purchase. Even so, many do not know what the homeowners’ insurance actually covers. The policy may not cover some events and can leave you vulnerable if additional coverage isn’t purchased. For your protection, make sure you are familiar with the covered incidents so you can obtain additional types of insurance for items not covered.

What Is Covered

Most homeowners’ insurance policies cover fire, theft, certain types of storm damage, and unexpected damage caused by others’ actions or property. Always know the terms and conditions of each policy, and if you feel you need additional coverage you should ask your provider if there are gap policies available to help you gain full protection. Homeowners need insurance to help them either regain the actual value or cost to replace the home. The insurance normally covers the dwelling only, rather than the value of the property too.

What Isn’t Covered

Many homeowners assume the homeowners’ insurance covers flooding, but that is not the case. You need a separate policy to cover floods which is purchased through the government. This policy covers things like natural disasters and bursting pipes. Don’t make the mistake of assuming you are covered by the homeowners’ insurance policy when it comes to water damage. There are some instances where precipitation, which damages the home, or wind-driven water, as well as wind damage, requires a separate policy. For more information regarding what is and isn’t covered in your homeowners’ policy, contact Longwood, FL, Blanchard Insurance.

Know what your home insurance covers so you aren’t left vulnerable from a lack of coverage. Contact Longwood, FL, Blanchard Insurance for home insurance and for more information on covered incidents. 

Florida Doesn’t Require Much Motorcycle Insurance, Do I Need Additional Coverage?

Motorcycle insurance law in Longwood, FL is tough to figure out. Many people think motorcycles don’t have to be covered by insurance in Florida. However, though the laws are different than auto insurance, Florida has a Financial Responsibility Law that requires motorcyclists to prove financial responsibility. There are steep fines for failing to do so and for not carrying motorcycle insurance. Your Blanchard Insurance agent can help you wade through the requirements and decide if you need additional motorcycle insurance.

Financial Responsibility

Florida’s Financial Responsibility Law requires motorcycle riders to provide financial restitution for injury or property damage they may cause while operating their bikes. So, even though motorcycle insurance is not strictly required under the law in Longwood, FL, it is a good idea to purchase liability coverage from an insurance to make sure you can cover any personal injury or property damage you may cause in a motorcycle accident.

Other Motorcycle Insurance

PIP and liability insurance cover other people and vehicles, but not you or your bike. Your Blanchard Insurance agent can help you understand how you can benefit from each type so that you can decide which coverage is right for you. 

  • Uninsured Motorist coverage covers you and your bike in the event you are hit by an uninsured motorist.
  • Comprehensive Coverage pays for damages to your motorcycle in events other than an accident with another vehicle. It includes fire, vandalism, and theft.
  • Collision Coverage covers you and pays for repairs if you are involved in an accident.
  • Labor or Towing Coverage pays for costs due to a mechanical breakdown.
  • Medical Payments coverage pays for medical expenses for you and your passenger.

Contact Us

If you have any questions on your motorcycle or other insurance needs in Longwood, FL, call Blanchard Insurance today. We will be happy to answer any questions we can over the phone or schedule time to discuss everything with you in person.

 

Essentials of home insurance.

If you talk to anyone who has had to rebuild their house after an earthquake or landslide, they will tell you that getting a home insurance cover is the best decision you will ever make, especially for your loved ones. If you just moved into your new house, and you would like to choose a home insurance plan, and the policies available are so many, which one do you take? How will you know what policy best suits your needs, putting in mind the neighborhood you live in.

There are essential policies that will serve to safeguard your home, if and when disaster strikes. However, the choice of policy is as important as choosing the right insurance company to go to. At Blanchard Insurance, you can get the best advice on the best cover that is tailored to your needs and the type of house you live in.

These policies will help protect against loss of property and belonging. These terms of the policy range from cover to cover, but they generally cover theft, fire and some acts of God like thunderstorms and hail.

One should exercise caution in selecting the choice of homeowner insurance cover. While selecting the cover, make sure that you evaluate your home and the potential risks. This will include the geographic location, the frequent weather patterns. You should also read the claim terms and make sure that you understand the claim process. At Blanchard Insurance, we will walk you through the process and make sure that you and your loved ones will always have a roof over your heads, whether in good or in bad times.

We understand that grasping these processes is a handful and that is why our offices in Longwood, FL are always open, and we take great pride in ensuring that our clients have the best experience out of their homes.