Mobile and manufactured home insurance covers the home, your personal property, and liability claims. Although insurance is not a legal requirement for this type of home, mortgage companies and mobile home parks may require proof of insurance before they work with you. This insurance is considered the equivalent of standard homeowner’s insurance.
Before manufactured or mobile homes were very basic; however, elegant and beautiful models are available today. Mobile homes vary in quality, style, and features and ensuring them is important to protect your investment. While owners of mobile home parks need to invest in mobile home park insurance Florida, mobile homeowners must also buy insurance for their mobile homes.
Mobile Home Insurance Coverage
Mobile home insurance offers the following coverage:
- Dwelling coverage. This is meant for the actual mobile or manufactured dwelling and other permanent structures of the home. Thus, any damage done to your home and its structures such as a shed, garage, or deck, is covered under this coverage. Because the amount and degree of coverage vary from one policy to another, it is important to compare policies carefully.
- Personal property coverage. This covers your personal belongings. It covers when the items you own are damaged or stolen.
- Liability coverage. This gives you protection when somebody is injured on your property and you are held liable. It may cover legal fees and medical costs, based on your coverage limit. Claims might include medical expenses, pain, lost wages, and suffering.
- Additional living expenses. This applies when damage covered by your dwelling coverage requires you to live somewhere else temporarily. This coverage can include things such as rent or hotel costs.
The Cost of Mobile Home Insurance
As with regular homeowners’ insurance policies, the amount you play for mobile home coverage depends on some factors such as the size of the home, its value, the year it was made, the value of your personal belongings, the physical address of the home, its construction materials, existing claims on your home policy, and others.
Aside from the features of your home, the cost will also depend on your chosen coverage limits and deductibles. Often, you will pay a higher rate for more comprehensive coverage and lower deductibles and a lower rate if you choose more basic coverage and higher deductibles. Generally, you will pay between $300 and $1, 000 to insure a mobile home. When shopping for the best mobile home insurance in Florida, find the combination of coverage and deductibles that works best for your budget and meets your specific insurance needs.
To find affordable mobile home insurance, take your time comparing quotes. If you cannot find quotes online, reach out to an independent agent in your area. The agent should be able to give you sample annual mobile home insurance premiums based on different coverage limits for a property in Florida to give you an idea of your options. Also, experienced insurance agents know the top-rated home insurance companies that stand above the rest because of their comprehensive coverage options.