A mobile home is an affordable, transportable residence that many people find easier to purchase than a traditional, foundation-based house. However, the cost of the dwelling is only part of the financial responsibility. You also need to insure the residence to protect your investment and other assets. Texas County Mutual Insurance, an insurance agency in Licking, MO, explains below why mobile home insurance is so essential.

Why Is Mobile Home Insurance So Important?

Your Lender Requires It

Although mobile home insurance, unlike auto insurance, is not required by law in Missouri, you may still have to purchase coverage. If you financed the purchase, your lender will require you to buy mobile home insurance to protect their investment as a condition of the mortgage. Furthermore, if you let the coverage lapse and they learn of it, the bank will almost certainly buy coverage that favors their interests and bill you for it.

It Protects Your Assets

Mobile home insurance protects you in the event of a fire, storm, vandalism, or other unfortunate events. It pays for damage to the home itself and losses to your furniture, appliances, electronics, clothing, and other belongings. Without this coverage, you could find yourself without a place to live, without belongings, and without recourse after a devastating fire or storm. If you're insured, you'll at least be compensated for the amount you lost.

It Guards You Against Liability

Most people rarely think about the potential liability they face if they or a member of their household accidentally injure someone or damage their property. For instance, if your dog should bite a neighbor, you could face hundreds, thousands, or even tens of thousands of dollars in medical bills, not to mention the lawyer fees and court costs if the incident goes to court. Mobile home insurance pays for these expenses, and this benefit alone makes it an essential purchase.

The information above should encourage you to purchase mobile home insurance to protect your assets and your family. To discuss your options, contact Texas County Mutual Insurance. They've been selling the highest quality home and farm insurance products for more than 100 years and offer friendly, personalized service to all clients. Visit their website to view a map and business hours, or call (573) 674-3125 to speak with a helpful, knowledgeable agent.