Do You Need Mobile Home Insurance?
Home insurance is something that most people don’t think about — until disaster strikes and they need the protection.
If you live in a manufactured or mobile home, you might wonder if you need to ensure your property against such risks. How does that process work and is it really necessary?
The truth is that mobile home insurance isn’t much different than insurance you’d get for a site-built, single-family home. It also offers many of the same benefits!
Today, we’re diving into how this policy works and why it’s important to have it in place.
What’s Covered in Mobile Home Insurance?
In many ways, a mobile home insurance policy is similar to a standard homeowners policy. You can expect coverage to protect:
- Your home
- Your personal property
- Any associated liability claims
There are two basic types of coverage included in your policy. These cover any type of physical damage that might occur to the structure (e.g. a tree limb falling on the roof) as well as any instances of personal liability (e.g. someone slipping and falling on your front steps).
Let’s break each type of coverage down a little more.
Property damage is a critical component of mobile home insurance coverage.
What would you do if your mobile home or the items within it fell victim to an adverse event such as:
The cost to repair the damage could be significant. Without an insurance policy in place, you would be required to pay for the repair costs out of pocket.
In addition to your home itself, this damage could also occur to other structures on your property, including your patio or garage. An insurance policy would not only cover everything on your lot, but it would likely cover your personal belongings, too.
When you’re reviewing possible policies, keep in mind that some offer more extensive coverage than others. While their premiums may cost more, you can rest assured that you’re covered, no matter what type of loss occurs.
On the other hand, a “named perils” policy will usually come with a lower premium, but it will be more restrictive on the type of losses it covers. If you have any questions about exclusions, check with your agent before signing on the dotted line!
When you receive a mobile home insurance quote, make sure it also includes a type of personal liability coverage.
This policy can help protect you if you or someone else who lives in the mobile home experiences one of two situations:
- You’re found liable for damaging someone else’s property
- A guest is injured at your mobile home
In most cases, these policies are designed to protect the interest and well-being of others and will not apply to you or other members of your household. For instance, if you slip and fall on your patio and hurt your ankle, you can’t use your personal liability coverage to cover the cost of your medical bills.
However, if someone visits your home and slips on the patio, the coverage would prevent you from shouldering the full cost of their medical expenses.
It also kicks in if someone in your home causes accidental damage to a neighbor’s property. It can be expensive to cover the replacement cost if your child throws an errant ball at their screen door, but with the right policy in place, you won’t be the one footing the bill.
What About Water Damage?
If you live in a mobile home, you may worry about the possibility of water damage.
The good news is that your insurance policy may cover minor water leaks in some situations. However, most coverage does not extend to floods. If this is a major concern, you may be able to purchase a standalone flood policy through a separate institution, such as the National Flood Insurance Program.
In the event of a leak, the insurance company will thoroughly investigate the cause of the issue before issuing any type of payout.
If the leak happened completely on accident and was outside of your control, then your policy may cover the cost of any necessary repairs. For example, your pipes might freeze in the winter, and suddenly burst without any type of warning.
However, it won’t be as easy to secure coverage if you knew about the possibility of damage and failed to take the proper actions to safeguard your property. If the insurance company finds that you didn’t properly maintain your pipes and keep them in good condition, they’ll be less sympathetic to your claims.
This often occurs in mobile homes that are used as vacation properties or short-term residencies. Pipes can burst if the home is vacant and no one properly maintains the heat. Or, they can flood a home when a small leak goes unrepaired for too long.
If you own a mobile home, it’s important to stay on top of all scheduled and emergency repairs. This is the mark of diligent home ownership and it could help your insurance policy work in your favor down the road.
Why Do You Need a Mobile Home Insurance Policy?
As mentioned, it’s a good idea to invest in mobile home insurance to protect you and your loved ones from the cost of property damage or personal liability.
However, there are a few other reasons why this is a smart idea, including:
- A mortgage company or mobile home park may require proof of insurance before agreeing to work with you.
- It helps cover the cost of your personal belongings (e.g. electronics, jewelry) if they’re damaged or stolen.
- It can help you cover the cost of your living expenses if you’re forced to temporarily relocate due to a covered loss
The cost of mobile home insurance can vary based on the geographic area, age of the home, and coverage limits. Make sure your policy includes the protections you need and compare quotes before making a final selection.
Enjoy the Benefits of Mobile Home Living
Mobile homes are cost-effective, customizable, and built to high standards. The building process is also incredibly convenient and environmentally friendly.
Once you’re securely in your home, it’s time to think about protecting it.
Mobile home insurance can offer you the peace of mind you need, allowing you to feel comfortable and confident in your new space. Ask local agents to prepare a quote, and look for one that meets your needs at a cost you can afford.
Have questions about insurance coverage, policy limits, or what to look for when comparing options? Join our community and ask today!