mobile home Insurance 101
Mobile Home Insurance Coverage
Similar to the insurance available for a traditional home, a mobile homeowners policy includes property, contents and liability coverages. Whether you own the land where the home is located is also an additional factor in the type of coverage needed.
Your agent can assist you in determining correct Dwelling coverage limits based on the purchase price or a source like the NADA book value. There is no coverage for the land or lot where your home is located.
Replacement cost coverage for your home and contents is available. Other optional endorsements include: Inflation Guard, which automatically adjusts your Dwelling and Other Structures coverage limits to keep pace with increasing costs; Golf Cart coverage, which can cover physical damage to the cart and your liability while driving it; and Secured Interest Protection, if you borrow money to buy your home and your lender or manufactured home dealer requests coverage to protect their interests.
Based on the year, make, model, and location of your mobile home, your agent can help ensure your policy is providing you the correct coverage and that you are receiving all applicable credits. For example, if your home is tied down according to state safety standards or you have fire extinguishers in your home, you can qualify for a premium credit. Since there are limits for certain categories of personal property (like jewelry, guns, golf equipment, tools, and computers), be sure to discuss all items you own with your agent and determine if you need to schedule specific items for additional coverage.