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Manufactured Housing News

Why You Should Keep Good Records for Homeowners Insurance

August 15, 2016

Why You Should Keep Good Records for Homeowners Insurance

Most people who own a manufactured home have homeowners insurance. However, a report published by the National Association of Insurance Commissioners has revealed that only about 40 percent of Americans have performed a detailed inventory of their possessions.

Why does a manufactured home owner need a home inventory in the first place? In short, not having an inventory of your possessions puts you at risk for inadequate manufactured home insurance coverage. Conversely, a complete home inventory list will help you:


Determine how much homeowners insurance you actually need.

Creating an accurate home inventory with receipts attached is the easiest way to evaluate how much your belongings cost. Knowing the value of your personal property can help you buy enough insurance to replace what you own should you suffer a financial loss as a result of an unfortunate event covered by your policy. If you no longer have the receipts, you can determine the average value of each item based on its make, model or serial number. It’s also essential to know that different homeowners insurance policies have different coverage limits. The right type of policy should cover the cost of repairing or replacing your manufactured home, if required, the cost of living elsewhere while your home is being repaired, all of your belongings and your liability to others, according to the Insurance Information Institute.


Get the most value from your homeowners insurance plan.

When it comes to choosing a manufactured home insurance program, getting adequate coverage for your home and all of your belongings should be your main concern. But being reimbursed for all of your loss is almost impossible if you have no idea what’s been damaged. Though you may know exactly what items you have in your home right now, compiling a complete list of your personal property from memory is very difficult in times of stress. Chances are you’ll forget about some of your valuables tucked away in your drawers and closets, and lose hundreds or even thousands of dollars. But if you have a detailed list of your belongings and their value, you’ll be able to avoid many hassles and get the best compensation for your loss.


Expedite the homeowners insurance claim process. 

When filing your claim, you’ll be asked to provide a list of all the items lost, destroyed or damaged due to a particular event covered by your policy. Having a detailed home inventory that catalogs all of your possessions and how much they're worth prepared in advance can get your insurance claim settled much faster. A home inventory list can be helpful in many other situations, such as when you’re moving or when you need information for tax purposes.

While a home inventory can consist of nothing more than a simple record of all of your belongings, we would like to suggest putting in more effort and cataloging your valuables using a checklist and photographs. Also, be sure to add any new acquisitions to your home inventory and update your policy accordingly when renewing your homeowners insurance.

If you’re the proud owner of a manufactured home looking for homeowners insurance, your search is over. Triad Financial Services, Inc., can help you get the right policy to protect your home along with all of your possessions. Similar to the homeowners insurance options for conventional site-built homes, our manufactured home insurance products provide standard and extended coverage against a wide range of perils, unless excluded from your policy.

To learn more about our insurance programs and coverage options, or to customize your homeowners insurance policy according to your needs, please feel free to contact our friendly, helpful and experienced insurance agents at 401-524-7641 or email

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