Just because your home isn’t big doesn’t mean it’s not worth insuring. It’s easier to find cheap mobile home insurance than it is to find affordable insurance on larger houses. The downside about mobile homes is that they are often more vulnerable and susceptible to damage. This means that you might want to consider going beyond the basics.
Typically, mobile and manufactured home insurance covers appliances, furniture, unattached structures such as sheds, and medical expenses / legal fees if another person becomes injured on the property. The HO-7 is the mobile home form offered by carriers. It is similar to the HO-3 but is more suitable for mobile or manufactured homes, which don’t always fall under “regular” homeowners insurance coverage.
What about water leaks? Some mobile home coverage may include leaks in certain situations, such as if a frozen pipe suddenly bursts and some content is damaged. However, there are exclusions for this. The protection likely WON’T kick in if the pipe bursts due to negligence and lack of maintenance on your part.
When shopping for cheap mobile home insurance, keep in mind that the coverage limits are usually based on actual cash value, replacement cost, or stated amount. Stated amount policies (or agreed value policies) should be evaluated and reviewed annually just in case it needs to be adjusted based on the current home value.
Cheap Mobile Home Insurance When Moving
What if you ever have to move your mobile home? After all, it’s one neat advantage they have over regular, family homes, condos, and apartments. Under a regular policy, the coverage doesn’t count towards mobile homes during transit. Check with the insurer to see if they offer any kind of “special temporary coverage” or “endorsement” for physical damage that might occur to your home or personal items while it is been moved.
Like other homeowners policies, floods are usually not included in mobile insurance coverage. If you live in a flood zone, then you really should consider getting separate flood insurance, as mobile homes are usually unlivable after sustaining flood damage. There is a good chance you’ll have to replace it, as well as the belongings that are destroyed by the flood.
Comprehensive coverage is ideal if you have a new mobile home that you want to protect at all costs. It covers the most direct, sudden losses from perils like vandalism, lightning, fire, water from bursting pipes, landslide, heavy snow, hail, and so forth.
Some carriers don’t offer cheap mobile home insurance in every state. One home insurance company to look into is Lemonade. If it is available in your area, try getting a free quote online.