Mobile home insurance can be confusing, which is why an independent insurance agent can help clear things up and find you a great insurance policy. This article is courtesy of Trusted Choice. You may view the whole article here: https://www.trustedchoice.com/mobile-home-insurance/
To start, let's talk a little more about mobile homes because they don't always come on wheels.
What Is a Mobile Home?
A mobile home, also called a manufactured home, is a four-walled structure that’s built in a factory and delivered to you to live in. It can remain “on wheels” or not, and in some cases, it can be built on a permanent slab for safekeeping. Just keep in mind that the more “secured to the ground” it is, the more insurable it is.
And similar to a manufactured home, but different, is a modular home. Modular homes are also built inside of a factory. But unlike mobile homes, they are brought to a permanent location in bigger chunks and assembled on-site.
A modular home, depending on the insurance company, can sometimes be classified as a manufactured home and sometimes as a site-built home if it’s built on a foundation.
What Is Mobile Home Insurance?
Mobile homes are typically made with different materials than today’s site-built homes. Since they're created in a factory and then transported, the materials need to be much lighter. Unfortunately, lighter materials are easier to damage, so mobile home insurance takes this into consideration.
What Does Mobile Home Insurance Cover?
Similar to homeowners insurance, mobile home insurance coverage begins with the three most common and basic coverages that any homeowner should have:
- Property coverage: Protects you from any big loss to your property due to fire, natural disasters, etc.
- Liability coverage: Protects you financially if someone files a claim or lawsuit after getting hurt in your home or on your property.
- Contents coverage: Protects all of your possessions in the event of theft or natural disaster-related damage
Now the amount of coverage you’ll need depends on a number of factors, the most important is probably the value of your home and its contents.
If your mobile home is involved in a claim, there are two ways you can choose to be reimbursed:
- Actual cash value: Compensation based on the value of your structure in the current market which takes into account depreciation. (Mobile homes depreciate very fast, just like a car.)
- Replacement value: Compensation for the amount it would cost to rebuild the structure to its original condition with similar materials.
We offer the following Lines of Coverage: Workers Compensation, Auto, Home, Life, Health, Disability, Motorcycle, Boat, Wind, Flood, Commercial Property, General Liability, Directors and Officers Liability, Bonds, Group and Individual Life/Health/Dental/Disability/ Vision/Long Term Care, Business Owners, Builders Risk, Commercial Crime, Errors and Omissions, Dwelling Fire, Commercial Flood, Group Accident, Garage Dealers, Inland Marine, Law Enforcement Liability, Pollution Liability, Professional Liability, Personal Umbrella, Commercial Fire, Commercial Umbrella, Excess Flood, Identity Theft, more…
We serve Mississippi, Louisiana, Alabama, Florida, Georgia, Tennessee, Texas and many other states. We specialize in coastal exposures.
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