If you own a mobile or manufactured home, instead of purchasing homeowner's insurance, you will need to purchase a mobile home insurance policy. A mobile home insurance policy is slightly different from a homeowner's insurance policy, and it is essential to know how it works.
Thing #1: Physical Structure
The first thing that is covered is the physical structure of your mobile home. If your mobile home is damaged by a covered event, such as vandalism, theft, hail, fire, or something else that is covered. If your mobile home is damaged in any way covered by the policy, you will get money to fix it up or replace it.
Thing #2: Personal Belongings
With a mobile home insurance policy, your personal belongings are going to be covered. You will get to choose the value for which you want to ensure your personal belongings. For example, you could pay for $20,000 or $50,000 worth of personal belonging coverage. There are also generally limits for an individual item, so if you have any high-value personal items, you will want to ensure they are covered, and if not, add on a rider to cover them.
Thing #3: Other Structures
Generally, your mobile home insurance policy will cover more than the house itself. It will also cover other structures that are on your property. For example, maybe you have a patio that you built onto your home. Or perhaps you have a storage shed or a garage that you added to the property. Those other structures will be protected as well if they are damaged during a covered event.
Generally, they will be covered up to a certain percentage of your overall policy. For example, if you have $100,000 of coverage for your mobile home, 20% of that will apply to other structures, or $20,000. The amount covered will vary depending on the policy and company.
Thing #4: Liability
Finally, with a mobile home policy, you are also going to get liability coverage. It is always great to have liability coverage, so if someone is hurt while on your property, their medical expenses will be covered, and you will get financial support if they pursue legal action against you.
A mobile home insurance policy is going to give you a lot of coverage, from building and other structure coverage to liability coverage to personal belongings. Discuss the full amount of coverage and benefits you will get with your insurance agent.