Mobile home insurance is very similar to an insurance policy for homeowners in that it gives financial protection should your home be damaged. Although it is not necessary to obtain such a policy by law, communities within the mobile home sector and mortgage companies often require that coverage be purchased.
Policies usually protect personal belongings and your home. They also offer liability coverage. Prices can vary greatly, so it is a good idea to get lots of different quotes in order to find reasonably priced mobile home insurance.
Is Mobile Home Insurance Needed?
As it is thought that the current answer to the homeless crisis could be the installation of park homes, more and more people may, therefore, be considering whether mobile home insurance is necessary.
Although mobile home insurance is not necessary by law, parks containing mobile homes usually require some proof that insurance has been obtained. Therefore, anybody who wishes to have their home within a park for mobile homes will need to obtain insurance.
What Is Covered by Mobile Home Insurance?
Mobile home insurance covers the belongings and home of the policyholder. It also includes protection for liability. Most providers are agreeable to policyholders customizing their policies via endorsements. They are supplemental to the standard policy. Endorsements can give coverage that will not come as standard in an insurance policy for homeowners, such as removal of debris or water damage caused by sewers.
As manufactured homes can be susceptible to fire damage, some companies do not include fire damage for policies taken out within regions that are considered to be of high risk.
As with all documents, it is always a wise idea to scrutinize all the details of the policy so you have a very clear idea of what is and what is not covered.
For those considering park homes, Gloucestershire has a lot of options. You can find many Gloucester park homes for sale.
Older Mobile Homes
It is hard to obtain insurance for mobile homes that are older, as mobile homes that are built prior to 1976 did not have regulated building standards. It is still possible, however, for homeowners wishing to obtain such insurance to get in touch with an independent agent who should hopefully be able to assist.