There is often confusion between mobile and manufactured homes. The name mobile home became manufactured homes for structures built after June 15, 1976. However, regardless of what it is called, it is important to have a mobile home insurance policy that will not only protect your investment but its contents as well.
Just think what you would do if your home suddenly burned down, was damaged by a tornado, explosion, lightening or had another catastrophe and you had to pay out of pocket to try to replace everything. For most people this would be an impossible task.
Having the cash to replace personal effects such as furniture, clothing, bedding and other things can be a huge amount. With your insurance policy there is a certain amount that is allocated for this specific disaster. The majority of this type of policy will also cover structures you own that are on the same land.
When you apply for manufactured home or mobile home insurance, the agent will ask you a number of questions. These will include:
• Is this a mobile or manufactured home
• Is it located on your own land or is it in a park/sub-division
• Is it skirted
• How old is it
• Is it tied down
• What are its dimensions and square footage
This will allow the agent to determine the risks of insuring the mobile and then he or she explain the coverage available and the cost.
There are a number of different types of insurance coverage available. It is always best to obtain a full coverage policy. This includes property protection, personal property coverage and replacement, liability coverage and identity theft protection.
One of the very important parts of any insurance policy is personal liability. This means if someone, who does not live in your home, slips or falls and suffers from bodily injury or has property damage you are not out-of-pocket expenses such as court costs or damages.
The major benefit of a mobile insurance policy is peace of mind. Not many people have the funds to replace their home and personal property when a disaster strikes. This is a worry that is not necessary with the right manufactured homeowner or mobile insurance coverage.