Mobile home insurance is quite a bit different than homeowner’s or renter’s insurance. That’s because each type of home comes with a different set of risks. Mobile homes have some added risks because they are built with lighter materials and strapped down rather than built on a concrete foundation.
This type of insurance provides coverage for your manufactured home, personal property, and liability claims. The first part of mobile home insurance is the physical damage aspect. Typically, the cost of repairs or replacement for the following will be covered:
- Fire damage
- Hail damage
- Theft
- Vandalism
Other parts of your property such as a patio or garage along with personal belongings are also typically covered. Some mobile home insurance policies only cover certain causes of loss. These are known as “named perils” and those policies may have lower premiums.
Mobile home insurance does not include coverage for flooding or your home while in transit.
Manufactured home insurance may protect you if you or someone else in your household is found liable for causing damage to someone else’s property. You may also be covered if a guest becomes injured at your home. Mobile home insurance does not, however, cover an injury to yourself or any other member of your household.
Policies are typically based on replacement cost, actual cash value, or a stated amount (the maximum amount you can collect if your home is destroyed). You can select the amount of coverage for your home based on the value of your possessions. The typical minimum mobile home insurance amounts are $30,000 worth of coverage for a singlewide and $45,000 for a doublewide.
How to Lower Mobile Home Insurance Premiums While Making Your Mobile Home Safer
- Take steps to prevent frozen pipes and be sure your home is well insulated
- Make sure your mobile home meets HUD’s Manufactured Home Construction and Safety Standards Code
- Utilize tie-downs and ground anchors to avoid or minimize storm damage
Academy Homes has a great selection of mobile homes available in the Tyler, Texas area. Give us a call today at 903-561-8485 to learn more.