Mobile home insurance covers are very similar to the standard home insurances by offering covers to protect the home, personal property, and liability. Two of the most basic covers offered with mobile home insurances is the protection of personal liability and physical damages. Under liability, the insurance companies provide protection in case any third party succumbs to injury at your property. Under the personal property cover, a mobile homeowner is protected against physical damage that may occur as a result of either environmental or man-made damages. The cover would also include protection for the outer landscape as well as the patio or garage. The insurance companies have their own policies for cover and reimbursement and it is important to know the details before signing up for a mobile home insurance policy.
The most common question asked by mobile homeowners is whether a mobile home insurance covers damages by water leaks. This is subject to the company policy and their listed criteria for water leaks. While the insurance companies do cover the replacement of a pipe due to winter, the subsequent damages to personal property would not be part of the cover. In addition, any damages as a result of negligence or poor maintenance would not be allowed for a claim under a mobile home insurance cover. Flooding as an act of nature may need to be covered under extra premiums or other policies depending on the geographical zone, but flooding caused by the homeowner, etc, will not be included in these insurance policies.
The most basic fact that mobile homeowners need to be aware of would be that the coverage amount is calculated based on the eligibility amount, or total replacement cost, or the true cash value of the mobile home itself. When signing up for a policy, one should check the total amount excluding the overhead charges to know the exact cover amount. Homeowners should also check their coverage limits annually to ensure there are no major discrepancies or changes added without being explicitly mentioned. Doing ample research and going through all the terms and conditions as well as the regular policy is essential before finalizing the loan.