Just like traditional houses, mobile homes are susceptible to damage due to fire, storms, and vandalism. Therefore, mobile home insurance is very similar to standard homeowners insurance. However, people not familiar with either type of coverage may have questions about the ins and outs of this kind of policy. Below are answers to some of the most common.

What to Know About Mobile Home Insurance

What is covered?

The three most common types of coverage are 1) property damage, which pays for losses to the home itself caused by named perils, 2) personal property damage, which pays for losses to the contents of the home, and 3) liability coverage, which pays for medical care and repairs if you or a member of your household should accidentally injure someone or damage their property.

What kinds of disasters are covered?

The most common covered perils include storm or fire damage, harm caused by a falling object, and vandalism. If something unfortunate were to happen to your home or property due to one of these occurrences, your provider would pay for the repairs or a replacement. Typically, losses due to floods and earth movement are excluded.

Should you insure your property for the replacement cost or market value?

Market value can fluctuate wildly, so if you insure your property based on the current stock market, you may find you are either underinsured or over-insured at any given time. If underinsured, you won't receive the full value of your home if you must file a claim. Instead, talk to your agent about replacement value policies—which will ensure your ability to build again or purchase a similar mobile home after an unfortunate event.

How can you save money on mobile home insurance?

The fewer risks insurers face, the lower their premiums. You can lower your potential for liability by installing storm shutters, reinforcing the roof, or retrofitting the home to withstand storms or earthquakes. Always keep an extinguisher on hand that is able to be used on grease fires.

For invaluable assistance designing an affordable, comprehensive policy, contact Michael E Glick Insurance in Boerne, TX. He has served clients in and around Kendall County for more than 25 years. In addition to mobile home insurance, he also offers coverage for your car, house, or business. Visit his website to submit a quote request or call him at (830) 816-9488 to ask for a no-charge insurance review of your current coverage.