Mobile home insurance is the most effective means to protect a mobile home, as well as its valuable possessions. Currently, purchasing a mobile home is a quite costly affair. Mobile home insurance is essential for protecting the mobile home from any form of destruction or catastrophe.
Coverage Available Under Mobile Home Insurance
The characteristics of a mobile home insurance policy are different from that of a traditional homeowners insurance policy. Nevertheless, it provides coverage or protection for similar forms of perils, such as: Fire,Windstorm,Smoke,Lightning,Hail,Vandalism,Burglary,Damages created by water from household appliances (like water heaters and refrigerators),Damages caused by snowfall etc.
In addition, a mobile home insurance policy also incorporates liability protection coverage. This offers protection from legal proceedings emanating from the active role of an individual in an accident on a real property. A few mobile home insurance policies also compensate for the living costs of the policyholders if the situation is unfit for staying in a house due to a natural calamity.
Flood Coverage
It should always be kept in mind that a normal mobile home insurance policy does not provide coverage for damages caused by floods. In order to protect your mobile home from flood, you should purchase a flood insurance policy individually. You can buy a flood insurance policy through the assistance of the National Flood Insurance Program (NFIP) or a mobile home insurance agent.
You can also purchase additional coverage for extremely valuable items like electronic appliances, ornaments, as well as antique goods. You can get the necessary details regarding additional coverage from a mobile home insurance agent.
Coverage Available Under Mobile Home Insurance
The characteristics of a mobile home insurance policy are different from that of a traditional homeowners insurance policy. Nevertheless, it provides coverage or protection for similar forms of perils, such as: Fire,Windstorm,Smoke,Lightning,Hail,Vandalism,Burglary,Damages created by water from household appliances (like water heaters and refrigerators),Damages caused by snowfall etc.
In addition, a mobile home insurance policy also incorporates liability protection coverage. This offers protection from legal proceedings emanating from the active role of an individual in an accident on a real property. A few mobile home insurance policies also compensate for the living costs of the policyholders if the situation is unfit for staying in a house due to a natural calamity.
Flood Coverage
It should always be kept in mind that a normal mobile home insurance policy does not provide coverage for damages caused by floods. In order to protect your mobile home from flood, you should purchase a flood insurance policy individually. You can buy a flood insurance policy through the assistance of the National Flood Insurance Program (NFIP) or a mobile home insurance agent.
You can also purchase additional coverage for extremely valuable items like electronic appliances, ornaments, as well as antique goods. You can get the necessary details regarding additional coverage from a mobile home insurance agent.
1 comment:
One thing to discuss with your insurance agent is if your mobile home policy is for equity value, ie: what you can sell your mobile home and land for today vs. Actual Cash Value.
Most insurance companies only insure mobile homes that are over 10 years old for Actual Cash Value. That means if your MH is damaged they will only look to see what a similar one sells for with no land.
10 year old MH sell for a few thousand bucks. If your roof is torn off it would cost more than that to repair.
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