Published at Sunday, April 15th, 2018 - 21:06:24 PM. Mobile Home Insurance. By Durand.
There is a lot of misunderstanding about getting manufactured or mobile home insurance. A lot of people think that it is difficult or even impossible to do. But the truth is, a lot of home insurance companies now offer insurance coverage for your mobile home. It is important that you do your homework and become familiar with the different types of policies offered before you make your decision. Here are three tips to help you in knowing what to look for when you are trying to find a mobile home policy. The three most important areas to be aware of are personal property or your personal possessions, liability coverage, and insurance on the home itself and surrounding property.
When confronted with the choice, choose a Replacement Policy. Though this type of policy is significantly more expensive, you will not receive less than what it will cost to repair damage in the event of a claim, only less your deductible. Consider it a forced savings account. This policy is more common with site-built homes or mobile homes that are on property that you may own instead of rent/lease. What does a mobile home insurance claim cover? A typical insurance claim that was caused by a broken water pipe would cover the damage to the home and your property as a result from water damage. The repair to the pipe would not be covered because it is considered home maintenance. This repair would be paid for by the home owner. Another example of what a claim may or may not cover is a leaky pipe. Any damage that would result from the leaking pipe would NOT be covered. Insurance companies only cover sudden and accidental occurrences. Items that are "leaking" are considered lack of maintenance and fall under the home owner's responsibility.
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