Should You Get A Mobile Home Insurance Policy?

If you own a mobile home or plan to purchase one, then consider getting mobile home insurance. While you are probably not required by law to get this insurance, it can still be required under certain circumstances and you may want to purchase a policy anyway. Here is more to know about mobile home insurance, including who should get it and what it covers, so you can see if it is right for you.

Who Needs Mobile Home Insurance?

You need mobile home insurance if you finance it or rent a space at a mobile home park. Even if this doesn't apply to you, it's still a good idea to insure your mobile home. Most policies cover many common mobile home perils. For example, you could receive compensation if your mobile home is destroyed and you need to start over.

What Does Mobile Home Insurance Cover?

Mobile home insurance covers many of the same things as a homeowner's policy. This insurance may cover things like:

  • Dwelling damage or destruction
  • Outside buildings like sheds
  • Personal property inside the home or in outside buildings
  • Personal liability such as accidents
  • Living expenses for temporary lodging due to a covered event

What Does Mobile Home Insurance Not Cover?

Like homeowner's insurance, mobile home insurance does not cover certain perils. However, they may offer additional insurance or riders to cover special circumstances. For example, your coverage may include damage from hurricanes, earthquakes, high winds, and floods unless you buy extra insurance. Some policies could exclude fire coverage if you live in a fire-prone area. Your coverage may not include moving your mobile home unless it's specifically mentioned in your policy.

What Other Factors Affect Mobile Home Coverage?

The insurance company may tailor your coverage and rates based on your mobile home features and which property you place your home on. You may be able to pay more or less if you have certain features such as added security or a fence. How your home is set up makes a difference in your policy rates and offerings. For example, homes with a sturdy foundation may be seen as a good risk compared to homes on wheels or stilts. Your insurance company may want to inspect your home before drawing up a policy.

Mobile home insurance can give you peace of mind, especially if it is your primary living space. It can cover damage and loss of your home and belongings. If you are thinking about getting mobile home insurance, contact a mobile home insurance company for more information.