North Carolina Manufactured Home Insurance (Cary, NC Area)
Whether you own a manufactured home, condominium or townhouse,
for most people their home is their most important investment. Ed
Moore & Associates of Cary, NC offers North Carolina manufactured
home insurance policies that have flexibility to meet your individual
needs and above all, provide you with the security that comes only from
the knowledge that your home is safe. Insurance for your home is one
of the most popular and important forms of personal insurance and the
typical North Carolina Manufactured Home Insurance policy has two
main sections:
Section I - Insurance coverage for your property as follows in
items A through D:
Coverage A - Dwelling - covers your dwelling (home), attached
structures, built in appliances and fixtures and permanently installed
floor covering. Most Home Insurance Companies will require you insure
your manufactured home to the current estimated replacement cost of
the home as calculated by nationally recognized experts in this field.
Coverage B - Other Structures - covers other structures on your
premises not permanently attached to your dwelling such as a detached
garage, dog house, perimeter fence, storage building, etc.
Coverage C - Personal property - covers your personal property,
(e.g. furniture, CDs, stereo and clothes). You choose a dollar amount
limit (what you think your possessions are worth) when you purchase a
North Carolina manufactured home insurance policy.
Coverage D - Loss of use - covers the additional living expenses
you incur when your home can't be used due to an insured loss. This
is usually a percentage of the dwelling limit.
Section II - Personal liability coverage as follows in items E and F:
Coverage E - Personal Liability - covers your personal liability claims and suits for bodily injury
or property damage you are libel for due to unintentional acts committed by you or qualified family
members and your pets (if not excluded). You choose this limit when you purchase the North
Carolina manufactured home insurance policy.

Coverage F - Medical payments - covers medical expenses for minor injuries to others even if
you were not at fault if they incur injuries on your property. The policy normally includes limits of up
to $5,000 per person.
Manufactured home insurance is often required by lenders to obtain a mortgage and nearly everyone,
whether you own or lease property, should have the protection of North Carolina manufactured home
insurance.
North Carolina Manufactured Home Insurance FAQ
Click on the link below to fill out a secure quote request form for an affordable Cary, North Carolina
area Manufactured Home Insurance policy that will provide excellent home insurance coverage at an
affordable cost. Or you can speak with our North Carolina Manufactured Home Insurance agent
specialist at (919) 467-6339 to discuss the insurance policy features.
Personal liability in a North Carolina manufactured home insurance policy is also an important part
of having security from accidents that may occur on your property. We suggest you choose
coverage limits that are not less than those on other liability insurance you own, such as car
insurance.
Click on the link below to fill out a secure quote request form for an affordable Cary, North
Carolina area Manufactured Home Insurance policy that will provide excellent insurance coverage
at an affordable cost. Or you can speak with our North Carolina Manufactured Home Insurance
agent specialist at (919) 467-6339 to discuss the insurance policy features in more detail.
North Carolina Manufactured Home Insurance Policy FAQ
Covered losses under a North Carolina manufactured home insurance policy can be paid on either
a replacement cost basis or on an actual cash value basis. When "actual cash value" is used, the
policy owner is entitled to the depreciated value of the damaged property. Therefore, the older the
item is, the less money you may receive for it. If you choose the "replacement cost" coverage, the
North Carolina manufactured home insurance policy will reinburse the amount it costs to replace
the property with something of a similar type and quality at current prices.
An "All Risks" policy provides the broadest North Carolina manufactured home insurance protection
because it will cover losses that are due to any peril except those specifically excluded in the policy.
A "Named Perils" policy covers losses that are due to only those perils listed in the standard North
Carolina Manufactured Home Insurance policy and typically include fire, hail, windstorm, and other
physical losses.
North Carolina Manufactured Home Insurance Policy FAQ
If your policy limit is less than 80% of the replacement cost of your home, you will face a
"coinsurance penalty," which means you'll have out-of-pocket expenses to cover costs beyond the
policy deductible you chose. For example purposes we will assume your home's estimated
replacement value (RCV) is $100,000. The co-insurance clause requires you carry at least $80,000
(80% of your RCV). If you chose to purchase only a $40,000 North Carolina Manufactured Home
Insurance policy you would be underinsured by half. Therefore, in the example the insurance
company would pay one-half of a loss less the policy deductible, so if you suffered a $10,000
covered loss to your manufactured home and had a $500 deductible, your policy would only pay
$4,500.
North Carolina Manufactured Home Insurance Policy FAQ
Replacement Cost or Actual Cash Value
North Carolina Manufactured Home Insurance Policy FAQ
All Risks or Named Perils
Coinsurance Penalty
Personal Liability
Home Replacement Cost Estimate Explained
Proper insurance to value is one of the most important considerations in insuring property. In an
effort to assure your home is insured properly we review the estimated replacement cost of your
manufactured home on an annual basis.
We calculate the minimum estimated replacement cost based on:
* Local Labor* Local Material Costs
* Square Footage of Dwelling* Construction Type
* Heating & AC Systems* Additional Features/Enhancements
* Potential Debris Removal* Foundation Excavation & Replacement
* Architect Fees* Structural Engineering Fees
To rebuild a substantially damaged home is much more expensive than to build new because
debris must be removed before repairs can be made. Where as in new construction there is no
debris removal to consider. The cost to remove debris is considered in the estimated replacement
cost estimate because it is covered under the dwelling limit on your manufactured home insurance
policy.
Comparing estimated replacement cost to current local new construction costs is not a good
comparison either because new home builders typically are building many homes at once, which
allow economies of scale. They purchase large quantities of materials giving them discounts and
share labor on several homes, which allow for lower labor costs per home.
Many compare the value of their home to the current market value, or what you could sell your
home for in the current real estate market. This is not an accurate comparison because if your
home is substantially damaged the repairs will be made at current labor rates and materials
costs including debris removal. Market value is what you can purchase a used home at in the
current real estate market, which is not an indicator of cost of neither new construction nor
reconstruction in the Cary, North Carolina area.
Our agency utilizes data on your home, which we retrieve from the county's tax appraisal
database. This information provides us with your homes square footage, type and materials of
construction and features. If there are errors in this information we will be happy to make
adjustments where necessary. If your home is new we will acquire this specific data from your or
your appraisal.
We advise you to insure to at least the minimum estimated replacement cost. You should even
consider insuring above the minimum. If your home were substantially damaged wouldn't you like
to rebuild it back to the size and quality it was? Over the years we have had a few clients suffer
major losses whereby their home and contents were substantially destroyed. They were happy
we had advised then through the years about insuring to proper values and were able to recover
from their losses without financial hardship.
Ed Moore & Associates, Inc.
103-B Kilmayne Drive
Cary, North Carolina 27511
Wake County, NC
Office: (919) 467-6339
Fax: (919) 467-6434

ED MOORE
& Associates, Inc.
Always here when you need us. Protecting
hundreds of North Carolina families and businesses.
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Mobile Home
We are a Cary, NC insurance agency offering affordable North Carolina manufactured home
insurance policy premiums to residents of the following towns, cities and counties in central
North Carolina: Raleigh, Morrisville, Apex, Garner, Green Level, New Hope, Neuse, Bayleaf, Falls,
Wake Forest, Forestville, Bethesda, Carpenter, Lowes Grove, Auburn, Holly Springs, Chapel Hill,
Durham, Knightdale, Macedonia, New Hill, Brentwood, McCullers, Farrington, Leesville, Durham
County, Orange County, Chatham County, and Wake County, NC.
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provided for informational purposes. Any decisions regarding your insurance needs should be discussed
with a licensed insurance agent.

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fax or online at the agency's website. You must speak directly with a licensed insurance agent.
Ed Moore & Associates, Inc.
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