Much like home insurance, a mobile home policy insures against losses from fire, windstorm, hail and other standard perils.
Let’s look at a few differences in a Home and Mobile Home Insurance policy….
In most instances, a home policy is comprehensive, covering Dwelling, Other Structures, Contents, Additional Living Expense and Liability. The coverages can be adjusted or changed, but are included within the overall policy.
However, for many mobile home policies these coverages are optional.
Because a home appreciates in value, many home policies cover the replacement cost of the home and/or contents. Some mobile home policies do also (depending on age and condition of home) however, for the most part, a mobile home policy is for actual cash value (ACV) only due to depreciation in the value of the structure itself.
Liability is another coverage that, for the most part, is optional on a mobile home policy. Many folks believe since their mobile home is located in a park, they have no need of liability coverage.
True, the park owners usually maintain a blanket liability policy, but that does not leave the mobile home owner free from personal liability. For instance, someone who gets hurt while visiting you, can not only sue the park owner, but the home owner as well (you!).
Owners whose mobile homes are rented out, should protect their investment by purchasing insurance on the home as well as liability coverage.
If you are the tenant in a mobile home, you can purchase renters or contents coverage that includes liability.
In today’s society where some are held accountable for the actions of others, it is imperative to make sure your home and property are adequately covered. If you’re in the market for a mobile home policy, give us a call 337-433-1683.
Until later take care and remember wisdom and understanding are better than silver and gold.
Tommy Curtis and Staff
Is an insurance agent with integrity and your best interest in mind. Call to speak directly to him.
Address: 509 7th Street
Lake Charles, LA 70601
Office Hours: M-F 9a - 5p (CST)