In Oklahoma or for that matter, the entire United States, there aren’t too many resources about this specific type of coverage, but although this is a different type of home, it would normally be insured as a homeowners policy.
If you’re looking for homeowners insurance for modular homes in rural Oklahoma, Oklahoma City, Norman, Tulsa, Lawton, Enid or Stillwater, you should first understand what exactly is a modular home and what this insurance policy has to offer.
The first thing you need to understand about modular homes is that they’re the only kind of home that can be classified as a “prefabricated home”. For that reason, homeowners insurance for modular homes is also known as homeowners insurance for prefab homes.
So, what are prefabricated homes? They’re simply homes that are built in sections and this is done in a home building facility. Once the sections are done, they’re delivered to a building or location site and then they’re assembled to put together your home.
Modular homes are built following state, local and regional codes based on the final location of the home. One of the many great advantages this kind of home has to offer is that, because it’s built in sections, you will be able to customize it however you see fit and you’ll enjoy spacious floor plans.
This kind of home should not be confused with manufactured homes or mobile homes, because the latter are not placed on a permanent foundation and can be moved from one location to another, following specific laws and regulations. Although there might be some overlap among manufacturers of modular homes and manufactured homes, here’s a list of just a few prefabricated home builders or retail outlets in Oklahoma: Oak Creek Modular Homes, Solitaire Modular Homes, Oakwood Homes, Palm Harbor Homes and United Built Homes, among several others to choose from.
Despite the fact modular homes are different than a standard home, they’re still covered by regular homeowners insurance. In other words, a homeowners policy may work as homeowner insurance for modular homes or prefab homes.
A homeowners policy provides a package of coverages that should suit the needs of the standard residential owner. Because of this, this kind of policy is not very flexible, meaning the coverage and limits of said coverage are predetermined and can only be changed through the use of endorsements.
Even though a home owners policy could be inflexible, it still offers a great deal of benefits, such as broader protection, lower costs, a single contract with a single expiration date, meaning you only have to deal with one agent and insurance company.
There are currently 4 different forms of homeowners policies available for you as a primary and secondary / vacation residence; the basic form, the broad form, the special form, and the modified form for special risks. To be eligible for any of these forms, the home must be occupied by the owner and it must be large enough for one or two families.
The most popular form is the modified form for special risks, because it offers coverage from basic perils, including: fire, lighting, explosion, windstorm or hail, smoke, aircraft, vehicles, theft, vandalism, riot or civil commotion, and even volcanic eruption.
Keep in mind that if the modular home is a landlord property, it can be insured as a dwelling fire 1 policy or a dwelling fire 3 policy.
The bottom line is that if you want your prefab home to be safe from the most basic perils and risks, a homeowners policy is exactly what you need to get peace of mind! Get your quotes now!