Mobile home insurance is necessary for homeowners living in manufactured homes who need to protect their property and belongings. Finding an appropriate mobile home policy is not as easy as it sounds, however. Many mobile home insurance policies are lacking in the level of coverage offered. For this reason, you’ll want to look for a company that is experienced in working specifically with manufactured home insurance. The company you choose should understand the specific needs of mobile home owners.
Does the law require mobile home insurance?
The legal requirements of mobile home insurance vary depending on location. However, if you have a loan on your mobile home, your loan company will likely require that you have insurance. Typically, their requirements are that you have enough insurance to restore or replace the physical structure of the mobile home. This way, if the home is damaged or destroyed while you are still paying off the loan, they will not be left with ownership of a home that is unusable.
Even if a policy is not a legal requirement or part of your loan agreement, having insurance is the best way to protect your investment and your family. How would your family cope if you suddenly lost your home and belongings? What would happen if someone were injured on your property? Manufactured home insurance ensures that you will have the financial capacity to recover from a disaster with the smallest amount of disruption to your life possible.
Why doesn’t a standard homeowner’s insurance policy work for mobile homes?
Mobile homes face risks that traditional homes do not. The building style and the lots on which mobile homes sit present unique concerns. For example, most standard home insurance policies do not include any kind of coverage for tie-down anchoring systems that are used with manufactured homes. Mobile homes can also incur damage when they are transferred between sites. These are not concerns for traditional homeowners and therefore are not typically included in policies.
Although many traditional home insurance companies will insure mobile homes, their policies may not have the appropriate kinds of coverage necessary to give you the comprehensive protection that you need. Mobile home insurance takes the unique factors of manufactured homes into account, so your policy works to protect you. That is why you need an experienced insurer on your side.
What kinds of mobile home insurance coverage are available?
Most mobile home insurance coverage falls into two categories. Physical structure and content coverage protects the home itself and the items you have inside it. Liability coverage protects you if someone is injured on your property, or if you are responsible for any damage to someone else’s property. This kind of coverage will help you cover medical bills if someone falls on your front steps, for instance, or with repair costs if your child breaks someone’s window.
It’s important to check your specific coverage very carefully. Your plan should include coverage for:
- Pipe bursts
- Natural disasters
- Falling objects
- Tie-down anchoring
- Loss-related expenses (debris removal, landscaping, spoiled food, etc.)
Fire coverage is something that mobile home owners have to look out for very carefully. Because of their lots and construction styles, mobile homes are more vulnerable than traditional homes to fire damage. When fires do occur, they often cause significant losses. For these reasons, some mobile home insurance policies try to leave fire damage off their policies, especially in high-risk areas. It’s important to have fire damage coverage, so check all policies carefully.
Natural disaster damage and wind damage are other factors that need to be carefully looked at in mobile home insurance policies. Because mobile homes are more prone to damage from wind and other natural disasters, insurance policies try to minimize the coverage they provide. Review any home insurance policy you are considering signing carefully to see what provisions they provide for wind damage and other natural disaster claims.
What about coverage for other structures on your property?
Often, mobile home owners have other structures on their lots, such as tool sheds or garages. Not every mobile home policy includes coverage for these standalone structures. If you have these structures, look for a policy that extends coverage to them in addition to the home itself.
Note that structures that are attached to the home are typically included in your policy. If you have a deck coming off of your home, for example, it will be included in your mobile home insurance policy.
How can National Mobile Home Insurance Company help?
National Mobile Home Insurance Company is dedicated exclusively to providing mobile home insurance. Our focus is on the needs of manufactured home owners. We take the time to understand each owner’s individual situation and find a plan that offers the best protection at the best price. For more information about mobile home insurance, call us today at 1-800-388-6780.