Published at Wednesday, April 18th, 2018 - 12:07:26 PM. Mobile Home Insurance. By Durand.
ACV (Actual Cash Value) or Replacement Cost? These are the two options that you will have to choose between. Surprisingly, most people end up with an ACV policy. This is bad news for the policy holder. ACV policies take into account depreciation of the home when it comes time to pay out for a claim. If your home is 15 years old, they depreciate the estimate to repair your home by 15 years and give you the balance less your deductible. I have personally seen countless policy holders receive as little as 30% of the cost of the estimate. The insurance company will then expect the policy holder to pay the difference. This is pretty common since ACV policies are rather inexpensive to buy and people are often misled into a false sense of protection.
Few mobile house owners realize that they can actually be held liable and financially responsible for any damage that they may cause to leased land, and mobile home insurance is a perfect way to solve the problem. In the event of a fire or any other catastrophe, mobile home insurance will pay for contents, the structure, and any clean-up that may be required to the land. Shopping for Mobile Insurance policy has been a lengthily action in the past because of the unbelievably time intensive process. Nevertheless, online internet insurance comparison sites now deliver a fast and simple way to save money and time by getting instant online home insurance quotes. Save money by comparing multiple insurance quotes online.
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