Just because your mobile home is not the traditional house, doesn’t mean you don’t need to insure it. A mobile home is, in fact, a home. You either live in it, use it as a vacation retreat or rent it out. That makes it a home, and you have a vested interest to protect that home.
While there is not a significant difference between regular homeowner’s insurance and that for mobile homes, there are still a few things that the mobile homeowner will want to be aware of when it comes to insuring their property. The first thing to think about is insuring the mobile home prior to occupancy, if possible.
Insurance for fixed homes
Regular houses set on a foundation and not typically moved from Point A to Point B at one time or another – is pretty standard in what it covers. While mobile home insurance does offer some of the same coverage, insurance companies take other things into account, like the fact that mobile homes are more easily destroyed by certain natural disasters and are more than likely going to be a total loss in the case of a fire. This kind of insurance caters to the needs of mobile home and their owners, covering everything from theft to physical damage and disasters. Policies differ from company to company, but you will typically find both peril and comprehensive plans to fit your needs. Packages may include coverage for personal property, medical/injury claims should anything occur on or withing your property to a guest, fir coverage, disaster coverage, extended coverage, emergency removal and much much more.
Costs
Because of the very nature of a mobile home, insurance companies know they are a higher risk than an actual house. Therefore, the cost of insuring a mobile home can and probably will be a bit steeper than the cost of insuring a house. Still, it is worth it to have your assets covered. Find yourself a reputable, licensed agent who offer insurance for mobile homes and discuss the policy offerings and pricing. Get some quotes from others and compare pricing.
Keep the following things in mind as well:
If you want to insure a mobile home, you need to have enough income or money on hand to pay the deductibles and to maintain the home. lack of maintenance and not meeting your end of the deal with the insurance company can result in not having the benefits available if and when you need them.
The age of your mobile home will be a huge factor, not only in the rate you pay, but in deciding whether it is insurable at all. Newer mobile homes are more likely to be insured, whereas, if you own a mobile home from the days of cardboard flooring and paper thin walls, circa 1972, you might find that there is little to no insurance coverage being offered to you.
Tie downs might yield a discount or at least decent coverage. Many insurance companies not only request this, many are now requiring this of moiled home owners. This includes tie downs, ground anchors and, of course, foundations.
If you find that your particular mobile home can be insured, do it. You will not regret it if it comes down to needing the benefits after all.
