Help?

[Raven]

Hi. I am still looking for my home, and it will be a bit yet before I actually buy - although I have already decided on the home that will be what I settle for if I can't find better. I am still doing my research and walking other homes and stuff, doing homework and exploring options. I just want to be as prepared as I can be when I am ready to actually go make the deal.So can you tell me what information I will need to have when I am ready to purchase insurance? What questions will I be asked? What kind of documentation will I be asked to provide? And how do I find out what kind of insurance I will need? I know that I will want fire, flood, tornado/wind insurance. Theft, etc... personal property loss.. Will I need to document all of my belongings? How do I do that? I am a renter right now, and have no insurance - I have nothing of real value to insure at the moment... I just want to build my documentation as I go, so that I will have everything that I need and won't have to backtrack on myself looking for stuff when the time comes. Any help/info that anyone can provide would be great!

[Sandy]

When we purchased our home in March, we had to make sure we had insurance sot that the escrow could close. We called the same company that insures our cars and they gave us a quote based on the value of our home. They never asked us what we have inside or to provide any kind of documentation. If something should ever happen we will get our MH replaced for the same amout that we paid . Plus other coverages like for personal property. The dealer that we bought our house from gave us the contact that they use and the quote was $200 more with less coverage.

[Kenneth J. Quist]

Purchasing your home insurance is not complicated. If you are buying from a dealer, they may offer to finance the first year of premium in with the contract, but keep in mind that you will be paying interest on that amount for the life of the loan. Pay for the first year up front.
The things to keep in mind when purchasing insurance:
1. Purchase a comprehensive policy which covers all perils including wind and flood if you are in a flood zone.
2. Be sure to have the equivalent of replacement cost on your home and preferably on your contents.
3. On your contents, for the future, you would want to schedule certain items like jewelry, guns, camera equipment etc. only if the value of those items get up to an appreciable amount.

If we can help, let us know.

[Kenneth J. Quist]

Many of the direct writers such as State Farm, Farmers, Allstate etc. write mobilehome policies which are based on actual cash value. This means that they are based on a depreciated amount for your home and contents. Also, usually these policies do not have flood coverage, and may have limited wind coverage. You are best served with a policy which can give you replacement cost on your home and contents, as well as being a comprehensive policy. These are questions on coverages which you need to ask your insurance agent to see if they are included in your policy.

[gary gann]

i am part owner of a small mobile home lot in arkansas. i have a customer who wants to purchase a mobile home from me. the problem is the loan has been approved but i cant find an insurer who will insure the home because the person who is buying the home had a fire less than a year ago can you suggest a company who would write high risks such as this one.

[Kenneth J. Quist]

Yes, we can probably help. Call 1-800-798-2288 ask for Kathy

[Jackie Clark]

I own 2 mobile homes, one doublewide one single. I live in the larger, my daughter and son-in-law in the smaller.
The homes are paid for and on a one-acre lot which is fenced. there are multiple improvements.
My question - "where do I get insurance on both?"

[Kenneth J. Quist]

You can call us @ 1800-798-2288

[Kevin]

Or you could call 1-800-752-2441

[Michael]

We are waiting a loan approval for a Palm Harbor and I am so confused! Being a first time home buyer I am new to all of this and assumed that we could include our home insurance in with our monthly loan payment. Is this true for the 1st year only? I have contacted the company that covers our vehicles and they stated that the policy could be paid by the mortgage company.......after the first year will we have to pay for our policy seperately and for the entire years coverage? We also want to include our property taxes does the same apply to them?