When building on your land, consider the impact of natural forces. Paying particular attention to various issues that can cause significant damage, from tree roots to tornadoes and more, will help you determine the extent of homeowners insurance you need. You’ll also understand what precautions to take when building on your land to prevent damage to your home.
- Homeowners insurance is usually a requirement. If you’ve financed your home, you’ll be required to maintain insurance to protect the investment of the lender. Even if you buy the home outright without financing, insurance is still a good idea to protect the most significant investment of your life—the new home you’re building on your land. One high value, low cost option to consider is our partner, Standard Insurance Agency, who specializes in insuring manufactured homes, modular homes and mobile homes.
- Policies vary, depending on the needs of your property. In hurricane- or tornado-prone areas, for example, it may be difficult to procure insurance, though most policies likely cover some damage from windstorms, hail, hurricanes, and tornadoes. Some policies exclude coverage from earthquakes and other perils, and there’s wide variation on coverage for things like lightning and fire. Flooding, however, is not covered in a homeowner’s policy, and requires a separate flood insurance policy. Deductables can be as high as $5,000 to $10,000 on some policies. It’s always best to work with a specialty company that understands your needs. Be sure to read your homeowner’s policy carefully, so that you understand exactly what’s covered.
- Lightning is another force you should consider. According to ER-Emergency.com, lightning hits the Earth somewhere every second, kills about 100 people in the United States each year, and causes billions of dollars worth of damage. Buildings struck by lightning often catch fire, and lightning strikes can cause extensive damage to electronics, buildings, and vehicles on your property. Before building on your land, talk to the builder and power company about the best way to protect your home, perhaps using lightning rods or whole-house surge protectors.
- Trees can be beneficial, but they can also pose hazards to your home. When building on your land, consider the placement of trees carefully. You want them to provide shade to enhance your home’s energy efficiency and aesthetic beauty, but you don’t want them to become potential hazards. When planting trees, make sure that they’re not too close together or too close to homes (yours or the neighbors’). Tree roots can wreak havoc on a foundation, or even cause structural damage to the walls by pulling too much moisture from the soil. Consider tree removal if it’s likely that trees might fall on the house during a storm, and prune trees to prevent falling branches. It’s also important to ensure that construction crews do not damage existing trees while building on your land.
For over thirty years, Palm Harbor Homes has provided customers with beautiful, affordable homes, using innovative design and construction to exceed customer expectations. Palm Harbor homes are energy efficient and constructed of high-quality materials, designed to withstand the weather elements and stand the test of time. For more information on building on your land, manufactured homes, and modular homes, contact us at PalmHarbor.com, or join our social networks on Facebook, Twitter, and YouTube.