With the appropriate coverage, safeguard your assets and mobile home.
It’s crucial to secure your house with insurance, and if your house happens to be mobile, there are a few extra factors to take into account. You want your insurance to meet your wants and lifestyle, just like you want the right mobile home, but you also want the coverage to stay within your budget. These recommendations can help you choose a mobile home insurance policy.
Availability of mobile home insurance – Whether you currently have homeowners’ or auto insurance, check with your provider to see if they provide mobile home insurance and if you qualify for a discount. Be aware that not all insurance providers provide coverage for mobile homes in every state. You can find out if coverage is offered in your state with the assistance of your insurance expert or the state insurance department.
Coverage for mobile homes – Coverage for physical damage and personal liability are the two fundamental types of insurance offered by mobile home insurance policies. These coverage options are typically offered for mobile homes that are rented out, commercial mobile homes, utilized seasonally, or mobile homes that are situated in parks or on private property.
- Generally, coverage under a regular policy doesn’t apply while the mobile home is in transit. Some insurers may offer temporary coverage, or an endorsement, for physical damage to cover the mobile home and personal property within the mobile home while it is in transit. There may be special limitations and provisions to this coverage so check with your insurance professional.
- Physical damage coverage pays for accidental damage to your mobile home, belongings or other structures (such as attached patios or decks, garages and storage sheds) resulting from fire, hail, wind, theft and vandalism or falling objects. The amount and degree of coverage varies from one policy to another, so make sure to compare policies carefully. Also note that, like regular homeowners insurance, flooding is not covered. If you are in a flood zone, you can purchase separate flood insurance.
- Personal liability coverage protects you when there is a claim or a lawsuit against you after someone is injured or their property is damaged because of your activities. Claims might include medical expenses, lost wages, pain and suffering, and even property damage to others (liability coverage does not pay claims for injuries to you or the members of your household). The amount of insurance necessary to protect your assets may be more than what comes standard with a mobile home insurance policy; if so, consider purchasing additional liability insurance.
- Peril policies offer basic insurance coverage and only cover specific causes of loss. While the low premiums may seem like a bargain, if your mobile home is damaged by a cause other than one of the policy’s limited named perils, you won’t be covered and you’ll need to spend your own money to repair the damages or replace your belongings.