Are personal items typically covered in a mobile home insurance policy?
What is Mobile Home Insurance?
Mobile home insurance is a form of property insurance, which covers homes that have been manufactured and transported to the location, instead of being traditionally built on the land. This insurance protects both the homeowners and the residence of their mobile home from any potential damage, theft or liability that may occur at the house.
What Does Mobile Home Insurance Cover?
Mobile home insurance typically covers the following insurance risks:
-
- Structural Damage- Covers damage to the physical structure of the mobile home, such as roof, walls and siding.
-
- Theft- If your mobile home is stolen, the insurance policy would cover the cost of the items within the home.
-
- Liability- If visitors to your home sustain injury and it is determined that you are liable for such loss, your insurance policy would cover this cost.
Why is Mobile Home Insurance Necessary?
Mobile home insurance is important for any homeowner who owns a manufactured home. Since many mobile homes do not have the same level of security as a traditionally built home, the insurance helps to protect their home from potential liability, damage, and theft. In the event of a disaster, such as a fire or flood, mobile home insurance can help the homeowner cover both replacement and repairs.
The policy is also necessary to maintain the financial stability of the homeowner in the event of a lawsuit. If someone were to sue the homeowner for damage or injuries that occurred on the mobile home, the policy would help to cover the cost of the legal fees incurred.
How Much Does Mobile Home Insurance Cost?
The cost of mobile home insurance varies greatly depending on the area where the home is located, the size of the policy, and the type of coverage. Generally, most insurers will provide a discounted rate to customers who bundle their homeowners and auto policies together.
The average policy usually ranges from $14-25 per month, with higher monthly premiums for those that purchase a higher level of coverage.
In conclusion, mobile home insurance is an important and necessary form of property insurance for any mobile homeowner. It helps to protect the physical structure of the mobile home from damage, theft, and liability in the event of a disaster or lawsuit. The monthly premium cost will vary, but it will typically range between $14-25 or higher, depending on the level of coverage purchased.