Mobile homes are structurally different than standard homes and are more vulnerable to certain weather conditions such as strong winds. Therefore, they aren’t covered under a normal homeowner’s insurance policy. You will want to shop around for the best prices and deals on
mobile home insurance instead. Modular homes also have their own classification of an insurance policy.
What Is Covered Under Mobile Home Insurance?
- Physical Property Damage - First of all, your policy will cover the structure of your mobile home and can help you with the cost to repair or replace it when it is damaged. Some property damage more common in mobile homes would be burst pipes or severe wind damage.
- Personal Property - Your belongings inside the mobile home will be covered. If your possessions get stolen or damaged you can replace some or all of the cost.
- Liability - Liability insurance helps protect you when a guest is injured on your property. If a visitor slips and breaks a leg, your mobile home policy can help pay their medical expenses, preventing you from being sued for the damages.
The damage may be caused by many things that are outside your control, such as fire, lightning, vandalism, wind, hail, burst pipes, wild animals and more.
How Much Coverage Do You Need?
Increased coverage will come with a price tag but if you have a brand new or expensive mobile home or have a lot of valuable possessions then the extra coverage might be worth it. Make sure that your coverage limits will allow you to still repair or replace your home and belongings. You can help balance the cost by taking on a higher deductible plan if you want to.
What Affects The Cost Of Mobile Home Insurance?
Your premium will depend on many factors so it is important to shop around for the best rates. The following things will play a role in determining your monthly premiums:
- Where you live
- The cost to replace your home
- Limits on the coverage you select
- Your deductible
If you own a mobile home then you will want to protect your investment with mobile home insurance. If you’ve financed your mobile home then your lender will most likely require it, but even if you own your home outright, you’ll want the added protection in the event the
unthinkable does happen.