Modular Homes = a new construction that is cost efficient, eco friendly and can be built in a matter of days.
Many people forget about all aspects of building, including insurance. When you construct a modular, how do you insure it? Below is a useful article that identifies steps you can take to properly insure your new modular home.
Author: John Ben Insurance Options for Modular Homes
Modular homes are prefabricated structures that are built in factories and assembled at a site. These are cheaper to construct than traditional site built homes and can be customized as per specifications detailed by homeowners. Though these are built by a home builder in climate controlled factories, there are many risks associated with prefab homes, like bad weather or damage while being transported to installation site. Therefore, IT is important that homeowners should opt for insurance while buying such homes.
Many homeowners are under the wrong impression that modular homes are insured differently from site built variants. Contrary to popular belief, insurance agencies treat these structures exactly the same as traditional homes. Therefore, they insure these under the same plans, provided that the unit adheres to the HUD code. Nowadays, even a home builder can recommend an insurance company that renders all-encompassing accident covers to clients.
One of the most important insurance policies that owners should opt for is trip collision insurance. Under this, the company covers the cost of all damages suffered by the home as it is being transferred from the factory of the home builder to the installation site.
Upon installation, it is essential that buyers should get insurance cover against adverse weather conditions for their modular houses. This is vital, as windstorms, hailstorms, lightning, snow and incessant rains are known for damaging even the sturdiest of homes. Owners can also opt for insurance against fire, smoke, frozen plumbing, theft, explosion and vandalism to safeguard their homes. It must be noted that floods and earthquakes are not covered under the insurance policies of most service providers. It is a well known fact that home repairs make a sizable dent on a homeowner’s pocket. Therefore, insuring prefab homes against unprecedented repairs is a wise idea for all modular home buyers. This entails that damages which occur while repairing lighting fixtures, cabling or plumbing network will be paid for by insurance agencies. Usually, service providers offer insurance cover for the home, but add additional charges are levied for sheds and garages.
Before buying prefab houses from a home builder, people must give a thought to the reimbursement offered by the insurance company. Some of the important factors that decide the amount paid by the service provider to the homeowner are deductible levels and the neighborhood. Frequency of claims, continuous insurance coverage, quality of structure built by home builder and insurance credit as per credit history are other relevant factors that decide insurance returns on prefab homes.
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“Modular Buildings offer a cost effective and fast way of developing additional space for your business to occupy. “
Need reasons for why your business or future home should be modular? Check out the article below and contact Prevost Construction, so we can start building a modular for you!
“Sometimes, the pace of growth of a business can exceed the available infrastructure, and require the addition of extra space for staff at very short notice. When such growth cannot be accommodated within your existing premises, damage can be done to the growth of the company unless appropriate space can be found quickly. Expanding your existing building can be expensive and is a long process that is fraught with costs and regulations while moving to new premises is an even more complex process. Modular Buildings offer a cost effective and fast way of developing additional space for your business to occupy.
In essence, modular buildings are temporary structures that can be fitted together from prefabricated parts, and feature panels that are bolted to a frame. There are a number of different variations on the standard modular building model, and the biggest advantages that they have is the speed with which they can be constructed in comparison to a conventional building.
In the past, modular buildings had a reputation for being ugly and drafty temporary places that were noisy and cold and did not offer the basic facilities that are required in a modern office such as adequate power supplies and integrated telephone systems. The days of the beige box are now long gone however, and modern modular buildings are designed and built to a much higher standard than ever before, and feature high quality components throughout. The decoration of each installation is designed to match your specifications to ensure that the new building matches with the rest of your building.
Modern modular buildings are custom designed to your exact needs, and include all the facilities that modern business requires. You can specify everything from the color and position of the interior walls through to the number of power outlets and telephone sockets that are installed in the structure. Thanks to the use of ¼” tempered glass throughout the construction of the building and the inclusion of sound reduction panels in both interior and exterior walls, it is easy to work inside the building without having the sound from outside interrupting and disturbing you.
There are modular buildings that are designed for both interior and exterior use, so whether you are using space within a large warehouse or factory building, or alternatively need to expand outside to get enough space for your additional space, you can choose a building to meet the exact needs of the environment where it is to be located.
One of the main advantages of choosing a modular building is that due to the nature of the construction it is possible to make changes to the layout and structure of the building in the future to ensure that as your business changes, your facilities will be able to grow and adapt with you.
Thanks to the ease with which the construction can be carried out, and of course the lower cost point offered by modular buildings over traditional construction methods, it makes a lot of sense for your business to choose this system ahead of the alternatives, because you will be able to achieve the additional space that you need in a fraction of the time that would be needed otherwise, and at a much lower cost than if you were to have the structure built using traditional techniques.”
I know what you are thinking…one of two images probably come to mind when considering a modular home; a simple ranch style home or split-level style home. In the past, these types of homes were generally the most popular styles in the modular industry.
Guess what? Times have changed! There is such a variety of construction styles and sizes, you can now choose from upwards of seventy floor plan designs. Ranging from the standard ranch and split level styles, to cape cod, and two-story designs; one can custom design their home using a modular building system. Many options are also available that will help customize your home to your own personal tastes. Whether you are looking for a 1,000 square foot home or a 4,000 square foot home, a modular building system can meet your needs. Modular building systems have also become quite popular in multi-family and commercial applications.
I know what else you are thinking…modular homes are of a lower quality than your conventional frame home. Yes, one of the advantages of purchasing and building a modular home is that you will save money on your new home but this does not mean that the home is “cheap” or of lower quality. Modular homes are constructed faster thus costs are controlled and kept to a minimum allowing for savings to pass along to you. In fact, modular homes are designed and constructed in a climate controlled environment meaning no weather ever touches the inside of your new home. Additionally, new modular homes endure at least 300 quality and third party inspections ascertaining the highest level of quality. When designing your new home that is engineered using the latest construction technology, you have the ability to choose from high-quality, energy-efficient material, products, and appliances. Therefore, choosing a modular home will not only save money on the initial construction but you will continue to see savings on your energy bills in the future.
Saving money on high-quality construction is just one of the many advantages to purchasing a modular home. Modular homes are delivered up to 90% complete. When you use a modular building system to construct your home, you will only have to wait approximately 7 to 9 weeks for it to be completed versus the 7 to 9 months you would generally wait for a conventional frame home.
Looking to enlarge your existing home? Choose from an array of home additions that have been designed to fit your existing home. Remodeling additions range from bedrooms and family rooms to kitchens, sunrooms, and garages.
Before dismissing the possibility of using a modular building system due to outdated generalizations, think outside the box and educate yourself on the many advantages to building a modular home.