Mobile insurance is similar to a standard homeowner’s insurance policy. However, people living in mobile homes are typically not eligible for homeowners insurance. Mobile homeowners must purchase a different policy from an insurance company or agent. However, you should not overlook purchasing insurance for your mobile home since it’s more unique than standard homeowner’s insurance and can provide you with all the cover you need.
Mobile home insurance companies allow you to customize your policy toward unique situations. For instance, if you have many assets, you can add an endorsement such as “additional living expense” to your policy. This coverage will pay for repair and replacement expenses related to your home if it is destroyed, damaged, or stolen.
Mobile homeowners’ insurance can be worth the cost because hefty components of the standard homeowner’s policy do not apply to a mobile homeowner. However, be aware that coverage can vary from carrier to carrier, and you may find that your policy is more expensive or provides less coverage than the standard homeowner’s policy. Here are some of the most common coverages in a mobile home insurance policy.
Dwelling Coverage
Dwelling coverage protects the insured’s home from losses and damages resulting from theft, vandalism, fire, storm, or other perils that may be covered under the dwelling endorsement. However, some policies provide limited coverage for these structures. Therefore, it is important to check if the policy offers any additional coverage for sheds, decks, and other facilities.
Personal Property
Personal property coverage protects what you own, including most valuable articles such as jewelry and furnishings. It also covers uninsured or underinsured losses on large appliances, artwork, musical instruments, and electronic equipment. For instance, if a burglar breaks into your home and steals valuable jewelry, this coverage will cover the loss. However, keep in mind that the coverage you receive may be limited. The limits will depend on your home policy limits and the value of the items covered.
Additionally, some policies may have lower premiums but may not cover all types of personal property. This is especially the case if the policy does not provide coverage for subject matter that is contrary to certain state laws. For instance, some policies do not cover firearms or alcoholic beverages.
Liability Protection
Liability protection covers your legal liability that may result in another person’s death or bodily injury due to accidents on your property, like if someone slips in your property because you didn’t clear off slippery ice/snow. It will also cover legal costs incurred by someone else suing you for damages caused by you as well as court costs that may be incurred by you while defending yourself in such lawsuits.
However, you must note that this insurance covers legal liability only when it results from accidents and not liabilities that are deliberately caused, for example, if you shoot someone through negligence or on purpose. Additionally, this coverage does not cover an injury to you or another member of your household,
Other Structures Protection
Other structures protection covers damages to any structure like your fence, your mailbox, garden shed, etc. Not just building damages covered by the dwelling coverage. However, it is important to check if the policy provides any additional coverage for these structures.
Additional Living Expenses
Additional living expense protection covers the insured’s living expenses during the time they will not be able to stay in their home because of repairs made after a covered loss. It will only cover living expenses during the time it takes for repairs to be made but not for any longer than that. For example, suppose the damages to your home are so great that you have to stay in a hotel for several months while repairs are being made. In that case, the living expense coverage will only cover the expenses during these several months.
Mobile home insurance is a very important protection for your mobile home and belongings. A policy can cover your possessions against theft, damage, and losses. It can also protect you from legal liabilities as well as living expenses incurred by you due to covered losses.
However, not all policies are the same. Before choosing a policy, you have to find out about the terms, conditions, and limitations of the policy, as well as the amount of coverage it provides. You should also review if the policy provides enough coverage for your needs.
