Should you get vehicle insurance or homeowners insurance for mobile homes? Both? Neither? You can actually get homeowners insurance for mobile homes specifically. Knowing how to shop the mobile home insurance markets can make the difference between paying too much and saving a good chunk on your premiums.
Be warned, though; if you don’t know what you’re looking for in coverage or you ignore what coverage you get, you’ll expose yourself and your property to dangers that could cause serious problems down the road.
How to find the best homeowners insurance for mobile homes
Homeowners insurance is not so different from purchasing any other kind of insurance. It just may feel a little different because it is not as well advertised or easy to find. With mobile home insurance, there is a good chance that you will need to find an insurer yourself instead of them flocking to you.
The process should go like this:
- Think about the risk specific to where you will have your mobile home – Location is always essential to any insurance you purchase. Understand the highest risks in each area and look into flood, tornado, earthquake, or other insurance from natural disasters as necessary. Be aware, just because weather events are rare in a particular environment doesn’t mean you’re immune to them. If your mobile home is damaged or lost in an event you didn’t insure against, you’re out of luck.
- Decide on the kind of coverage you want and what extra things you may wish to insure – Think about the other things you want in your homeowners insurance besides insuring against weather events. Liability insurance can be important if somebody gets injured on your property. There are also optional forms of insurance for some of your belongings in the home or on the property. No doubt, your insurance agent will bring to your attention some potential additions that you should think about.
- Shop around – Check with different insurance providers in your area to find out what the options are for homeowners insurance on mobile homes. It is also a good idea to ask in your neighborhood to see if there is a trusted advisor that others have worked with. While you want to explore your options, but your most important job here is finding someone to work with that you trust.
- Adjust coverage appropriately – When you find the right company and the right agent, they will be able to inform you about a lot of added insurance options that you probably didn’t think about. This is where trust is essential. Some agents may try to get you to add everything possible to bump up the premium to make a higher commission. A good advisor will discuss your needs and concerns and make appropriate suggestions for your unique situation.
- Make updates to coverage as needed – Things change, and as you and your family grow in your home, your coverage may need to change with it. Contact your insurance agent when you have large life events like a marriage or a child’s birth to see if there is some coverage you could or should add. For that matter, check in every year or two even if nothing has changed, just to see if there have been any changes in what the company offers. Stay updated to stay prepared.
There is a lot to think about with any insurance coverage. Don’t let the confusion of shopping for homeowners insurance for mobile homes stop you from protecting what is important to you.
How do you research your insurance options?