Home insurance for manufactured homes is different than policies designed for other properties. No matter what type of manufactured home you have, it is important to work with your agent to select a customized plan.
Plans exist that can protect your home itself, the contents of it, and your liability risks. Even if you own the home outright and the land it sits on, having adequate insurance can minimize financial loss.
What Type of Dwelling Insurance Do You Need?
The dwelling insurance component of a home insurance plan addresses the actual structure. A manufactured home plan will include all components of that structure.
It protects against losses such as fire or weather-related damage. The plan should have enough coverage to rebuild your home should a total loss, such as after a fire, occur. It may be best to choose coverage at a value that includes the rebuilding process.
Most plans also allow you to add additional structures to your plan. This is not automatically done with all manufactured homes, though. Be sure your policy lists these buildings outright.
What Type of Property Insurance Should You Choose?
Your home insurance can cover personal property and belongings commonly stored within the home. This includes:
Take a close look at the policy. Be sure the covered limit – the highest amount you can claim – is enough to cover all of your values in case of a loss. You may wish to buy extra coverage for high-valued items, such as art collections or jewelry.
What Liability Coverage Do You Need?
Liability insurance provides financial protection to you if someone gets hurt on your property. If someone makes a claim for damages after getting hurt at your home, this policy can cover those costs for you.
You may wish to consider guest medical protection as well. This covers the cost of medical expenses for anyone hurt on your property that is not immediate family or those living there.
Home insurance for manufactured homes can be a bit different than traditional coverage. What makes it different is the values and the coverage amounts. Work with an insurance agent to ensure you have the most accurate policy for your needs.
Berger Briggs is here to help you determine the appropriate coverage for your home. If you have questions, we can help. Visit our website to learn more about home insurance coverage. Call us today at 505-247-0444 for more information.