Insurance And The Manufactured Home

How are insurance rates affected by whether a home is modular vs. manufactured? If a home is build to the 1976 HUD code, does this mean that a rental policy on this home will be higher than for a home build with UBC Code?



I am shopping insurance right now and some insurance agents are asking me what code the home was built to.



Thanks,

JS.

Comments(5)

  • smithj217th January, 2006

    Anyone?

  • norrist17th January, 2006

    It depends on the carrier and their underwriting guidelines. Try AMIG (American Modern), Foremost, or Diamond States. AMIG should be the most helpful...

    Tim
    [addsig]

  • smithj28th February, 2006

    Thanks for the info Tim. I am in some problems now. I went with my insurance company that insure all my other properties. They gave me a quote before I closed and my agent assured me that everything was good. Now a few months after I closed, they are telling me that the underwriter declined the policy because it is a manufactured home (which my agent knew right from the beginning) and that the only way to keep the policy would be to quadruple the premium.

    I spoke with AMIG and they are quoting me $2500 a year for a $92,500 value.

    Does anyone have any suggestions, advice?

    Thanks,
    JS.

  • smithj28th February, 2006

    bump

  • norrist13th February, 2006

    Different carriers define "manufactured" homes differently. Did you get a referral from the prior owner? In what state is the property?
    [addsig]

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