Have you ever seen an ad on the television or the internet for insurance that had a disclaimer saying something along the lines that "no insurance policy can cover everything..." and so on? This could be a cue that you should dig out your policy and have a really good look at the fine print to see exactly what it is you're paying for. A lot of mobile homeowners insurance policies cover the basics, and some even go so far as to claim they are comprehensive. They might not be as comprehensive as they're saying they are.
Standard Mobile Homeowners Insurance Policy Coverage
It doesn't matter who your insurer is, most mobile homeowners insurance policies will cover similar things to a regular homeowner's policy - fire, theft, etc. Liability coverage is also generally included in a mobile home policy, but you may want to have a look at how much your liability is worth. It will cover your legal costs, payouts a judge might award to another party, and their medical expenses - but it might not be worth much. The lower you pay for premiums, the lower your liability will be.
Is This, That, and the Other Thing Covered in My Policy?
It's often far too late to adjust your policy by the time something happens and you need to make a claim. Here's a list of things you should ask your insurance agent about your policy if you already have one or are about to buy one:
• Find out whether you have flood insurance. If you didn't specifically ask for it, it will not be in a standard policy - it's ALWAYS an add-on.
• Your home might be mobile, but actually moving it may not be covered. This, too, is not a standard feature and is usually an add-on. If you plan on staying where you are forever then it may not need to be worried about, but if you think you might move or travel around in it you may want to ask about this.
• Personal property replacement and structural repair coverage is something you might want to look at, too. Your standard policy will pay you out for the current market value of your home and belongings when you make a claim. This is the value of everything were you to sell it right now, not if you had to replace it all new. If you want to be protected for this, you will have to add it on.
• Coverage in the event of an earthquake. If you often travel in your mobile home to earthquake country, you should consider adding this coverage - your basic policy, like flood protection, will NOT include it and if any damages occur during an earthquake, you won't be covered without it.
Make some comparisons and shop around - mobile homeowners insurance policies are never the same from company to company.
Standard Mobile Homeowners Insurance Policy Coverage
It doesn't matter who your insurer is, most mobile homeowners insurance policies will cover similar things to a regular homeowner's policy - fire, theft, etc. Liability coverage is also generally included in a mobile home policy, but you may want to have a look at how much your liability is worth. It will cover your legal costs, payouts a judge might award to another party, and their medical expenses - but it might not be worth much. The lower you pay for premiums, the lower your liability will be.
Is This, That, and the Other Thing Covered in My Policy?
It's often far too late to adjust your policy by the time something happens and you need to make a claim. Here's a list of things you should ask your insurance agent about your policy if you already have one or are about to buy one:
• Find out whether you have flood insurance. If you didn't specifically ask for it, it will not be in a standard policy - it's ALWAYS an add-on.
• Your home might be mobile, but actually moving it may not be covered. This, too, is not a standard feature and is usually an add-on. If you plan on staying where you are forever then it may not need to be worried about, but if you think you might move or travel around in it you may want to ask about this.
• Personal property replacement and structural repair coverage is something you might want to look at, too. Your standard policy will pay you out for the current market value of your home and belongings when you make a claim. This is the value of everything were you to sell it right now, not if you had to replace it all new. If you want to be protected for this, you will have to add it on.
• Coverage in the event of an earthquake. If you often travel in your mobile home to earthquake country, you should consider adding this coverage - your basic policy, like flood protection, will NOT include it and if any damages occur during an earthquake, you won't be covered without it.
Make some comparisons and shop around - mobile homeowners insurance policies are never the same from company to company.
0 Response to "Are You Protected in Your Mobile Home?"
Post a Comment