Mobile Home Insurance

One of the first things that the vast majority of people look for when they own their own home is to ensure that they are adequately insured. This is typically done via a homeowner's insurance policy, but what should you do if you live in a less conventional residential property? There are, without doubt, millions of people in America, and indeed, around the world who live in a mobile home. However, were you aware that there is a range of specialist insurance policies that will provide protection should you live in a mobile home? This type of policy is most often referred to as mobile home or manufactured home insurance.

Making sure your mobile home is correctly insured is just as important as insuring any other type of property within which you choose to reside. Just because you live in a mobile home does not mean that you won’t need protection from certain unexpected events. These may include fires, storms and any other event that is likely to cause your home major damage. This may, of course, lead to financial difficulties which could easily have been avoided.

You will find that the specifics of a mobile home insurance policy will typically differ from company to company, although there are certain general aspects that will be covered:

  • The physical structure of your property will be covered - this will generally include your actual mobile home and any structures, such as sheds or a detached garage that may be found on the same piece of land. Your insurance policy will cover a vast range of losses that will include fire, wind and lightning damage. This will also include damage from explosions or falling objects. However, you should be aware that if you are in transit that unfortunately you will receive no coverage.
  • Your personal property is also protected - this will typically include your belongings that are found inside your home or within one of the physical structures found on your land. Many insurance policies will also cover your personal belongings while you are away from your home, although this will usually be at a lower limit. A prime example of this may be that you leave your laptop in your car, and then finds that it has been stolen.
  • You will also have insurance for personal liability - this type of insurance will protect you if you unintentionally damage your property, or even if you cause unintentional bodily harm to another person who does not reside at the property. This will usually include coverage for medical expenses, and any subsequent court costs should an injured party choose to sue you.

You will find that the majority of mobile home insurance policies are pretty comprehensive, but unfortunately they will not cover for flood damage. Therefore, it is advisable that if you live in an area that is known for flooding, you should buy a separate flood insurance policy. You can generally find a decent policy from the National Flood Insurance Program (NFIP). As long as you have a separate flood insurance policy you can ensure that your home and personal possessions are protected from the possibility of flood damage.

There are also numerous discounts that may be available with a mobile home insurance policy and these include:

  • When your mobile home is built on a permanent foundation
  • The roof is either shingled or pitched
  • A basement has been built beneath your mobile home
  • You have specifically installed fire or smoke detectors inside your mobile home
  • You have installed skirting around the bottom of your home
  • If your mobile or manufactured home is fairly new
  • If you are over 50 years of age

It is important that you build your mobile home insurance policy to specifically cover your own individual circumstances. Therefore, prior to adding any extra protection to your policy, which is likely to make your premiums more expensive, you should be aware of the standard perils that are covered. The perils that are covered in the vast majority of mobile home insurance policies include: fire, wind or hailstorm, falling objects, theft, damage to trees, shrubs and lawns, smoke, lightning, explosion, vandalism, landslide, etc.

You will also find that any physical damage caused by specific perils will usually be available from a broader range of coverage. Another great factor about mobile home insurance is that you will still be eligible for cover even if the mobile home in question is not your primary residence. Many insurance companies will offer seasonal, non-owner occupied, and even rental, mobile home insurance.

Mobile home insurance will typically be just as affordable as a conventional home insurance policy, and you should find that most insurers will specifically manufacturer a policy to fit in with your own budget. Premium payments will generally be offered on either an annual or monthly basis, and many companies are likely to offer a further discount should you decide to pay your insurance premiums annually.

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