It is a well-known fact that both manufactured and mobile homes are different from conventional site-built homes, which means that mobile homeowners will have different insurance coverage requirements. Most mobile home insurance policies usually cover the home only for specific hazards or dangers. If you want to protect your home and the residents in it from all sorts of minor or major damages, then you will have to find an insurance agency that offers specialized coverage.
Consulting with the manufactured home dealers in your location and seeking the help of people who own cheap manufactured homes will most probably help you find the right insurance company that can take care of all your insurance needs. Below are a few things covered in most specialized insurance coverage policies.
- Coverage for sudden, accidental, and direct incidents
- Liability coverage that protects you when you are legally responsible for an accident
- Other coverage options for customizing your personal insurance policy
Many homeowners in the country have no clue on what prefab tiny house insurance covers. If you are one among them, then here are a few different types of mobile home insurance coverage and a brief idea on what they usually cover.
Property Coverage will cover almost all accidental, sudden, and direct losses including the following:
- Hail or wind damage
- Collapse from the weight of snow and ice
- Damage by stray or wild animals
- Water damage from pipes
- Robbery or burglary
- Falling objects
Liability Insurance Coverage
As mentioned, if you are found legally responsible for an accident that causes property damage or injury to a person who doesn’t live in your manufactured home, then liability insurance coverage will cover costs such as property damage, lost wages, and medical bills.
However, several insurance agencies also offer additional mobile home insurance options such as agreed loss settlement and optional replacement cost. If any one of the covered loss destroys your manufactured home, then an agreed loss settlement will offer you the full insurance amount that you have purchased on your manufactured home. On the other hand, optional replacement cost insurance will cover the cost of replacing the damaged items in your mobile or manufactured home.