Because of their construction and vulnerability to extreme weather conditions, mobile homes often don’t qualify for conventional homeowner’s insurance. However, there’s Mobile Home Insurance Coverage in Monroe MI for these cases. Here, potential customers can learn the differences between mobile and modular homes, and they can find out more about the insurance buying process.
Mobile and Modular Homes: What’s the Difference?
Modular and mobile homes are built in factories, unlike conventional homes. A mobile home sits on a non-stationary chassis, and it never has more than one level. However, a modular home often sits on a foundation, and it can have multiple levels. The differences can affect a customer’s insurance options, and some carriers offer traditional insurance for modular homes.
What’s Covered by Mobile Home Insurance
Standard policies typically include certain types of coverage, such as those listed below.
- Fire/lightning
- Explosion
- Landslide
- Vandalism
- Wind/hail
- Falling objects
- Burst pipes
- Damage is done by animals
When the customer chooses a coverage limit, they should get enough to cover the replacement cost of the mobile home.
Personal Property Insurance
This type of insurance covers the cost of replacing and repairing belongings if they’re stolen or damaged. Taking inventory is the easiest way to determine the value of the family’s possessions before selecting a coverage limit.
Liability Insurance
This type of coverage pays out when a visitor is hurt on the premises, or when a homeowner accidentally causes injury or property damage to others. Depending on the carrier, a policy may include other types of coverage such as living expense reimbursement and transit collision coverage.
The Cost of Mobile Home Insurance
The price for Mobile Home Insurance Coverage in Monroe MI can range from $250 to $1300 per year, according to a group of independent agents. Many factors can affect a customer’s rate, such as ZIP code, home replacement cost, coverage options, limits, and deductibles.
Where to Get Mobile Home Coverage
Although this type of insurance isn’t available from every insurer, customers can get coverage from several direct and third-party sources. Because rates can vary widely, customers should get more information and compare multiple quotes to get a competitive rate on mobile home insurance.
