Mobile Home Insurance

April 05, 2018

 
 

A home is a sound investment to make for any family and just like any other family you need to protect your investment. In this article we’ll cover the fundamentals of mobile home insurance; what it is and how you can use it to protect your investment.

Mobile Home Insurance Definition

Mobile home insurance is also known as mobile home insurance. It is similar to insurance policies that cover risks that ordinary homes are prone to. Unlike ordinary homes, manufactured homes are made with lighter materials straight from the factory. These materials are then transported to the construction site. Anchors are used to tie them down to the ground for stability.

Due to the fact that these homes are constructed differently from traditionally built homes, mobile homes require a special kind of insurance that caters to the additional risks that a manufactured home is prone to.

Difference Between Modular Home Insurance and Mobile Home Insurance

Modular homes are pretty much like ordinary homes in that just like conventional homes they are built on a foundation. The only similarity modular homes have to mobile homes is that they are made in a factory and are then transported to the construction site.

For insurance purposes, modular homes may be treated like conventional homes. This is because like conventional homes they are built on a conventional home. They also have fewer associated risks compared to manufactured and mobile homes.

Mobile Home Insurance Policy Protection

The insurance cover for modular and mobile homes is similar to the insurance cover provided for conventionally built homes. The amount of coverage needed as well as the structure of the policy is contingent upon the value and the size of the home. It also depends on whether you own the land that you’re constructing on in addition to other factors.

Various types of coverage will include:

Mobile Home Liability Coverage

With this type of insurance cover, you are protected when a visitor on your property gets injured as a result of your negligence. It also applies when you damage another person’s property and get sued.

Property Damage

This insurance policy will pay for any loss on your property that requires repair.

Personal Property

This insurance policy protects you against risks of theft or burglary that will lead to loss of your belongings. This also covers loss or damage that is occasioned by weather events or disasters such as falling objects, tornadoes, and fires.

Cost of Mobile and Modular Insurance

Due to the differences in the types of homes they insure, these two types of insurance covers have rates that vary from State to State.

Since manufactured and mobile homes tend to have lower overall value than a traditional or modular home, the insurance policies cost less. However, there are more risks that are associated with manufactured homes as opposed to modular homes which leads to customers paying more premiums for mobile home insurance.

Would you like to get the best mobile home insurance for your home? Do get in touch with us.

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