I’m looking to change my insurance policy for my mobile home in Rapid City, North Dakota. I don’t really think I’ll need all the features of an all-inclusive based insurance policy since I have plans of renovating it and putting it up on the market within a year, should I just get the basics?
Abner
Rapid City, ND
The choice of getting an all-inclusive insurance policy or picking from a list of specifically peril-based coverage policies really depends on the amount of risk you are willing to take for your property in Rapid City, North Dakota for as long as the premise is under your name. In your case, it might make good business sense to just get basic protection from vandalism, fire, ice/snow damage etc., however you also have to take into account what might happen to you and your property, in the event something does happen to your premise, and you end up spending more for repairs, or worse, losing your property all together, which would have, otherwise, normally been included in an all-inclusive policy.
If you really are in a dilemma selecting, assess your properties geographical location, in North Dakota, risk of damages resulting from hurricanes might be negligible, as compared to homes located in the south, and so you might not need to spend unnecessarily for this if your policy is flexible enough. You also have to know if the neighborhood your premise is located is safe or has a low risk of criminal activity like theft. If you feel that you can live with taking some risks with what you have left after eliminating extras in the policies you choose then you should be good to go.
Tags: mobile home, mobile home insurance, online mobile home insurance
]]>We’ve recently purchased a new mobile home in Grand Prairie, Texas and need to get it insured. What are the things we should consider for our mobile home’s insurance policy?
Judith & Dan
Grand Prairie, TX
A good mobile home insurance policy should include protection on the ff: Your personal items or possessions, coverage for liability, and insurance on your actual house and its immediate surrounding properties.
Once you shop around for your Grand Prairie, Texas home’s insurance, one of the most important things to ask is if your personal possessions inside the house will included in the coverage. Once you do, it is recommended that you take a complete inventory of everything that you own, take a picture and label each possession and have it store somewhere secured. Although this is a bit of an effort, it will all be worth it in the event that you will need your insurance to cover your possessions.
Next will be liability insurance, which means protection from damages and liabilities incurred in the event someone gets hurt in your property. Medical costs and expenses are usually included within this coverage as well as legal defense expenses. This may or may not include protection to you and your immediate family living in the house.
Finally, a good mobile home insurance should also include protection for your surrounding properties, this is especially vital for homes in Texas (Annual Hurricanes and all). Coverage for damages due to fire or smoke, storm, vandalism and explosions should also be covered by a good insurance policy. Always make sure to read the fine print and understand exactly what will be covered under the policy you choose.
Tags: mobile home, mobile home insurance, online mobile home insurance
]]>I’ve called up my insurance company for my mobile home here in Waco, Texas recently. I’m being offered an additional option to my current policy called “Additional Living expenses coverage,” is this a good idea?
Jojo
Waco, TX
Let’s define the subject first, Additional Living Expenses coverage basically means that your insurance company will pay you for any extra cost incurred by you, such as additional expenses for food, shelter etc., necessary to maintain your normal standard of living when a direct property or covered physical loss within your policy makes your home uninhabitable for a certain period of time as defined within your insurance terms and conditions. This policy may or may not include added costs of temporary renting, food and other increased costs incurred.
In my opinion, if you are going to pay for something to insure your house, you might want to get this added to your policy. It might seem to be an unnecessary addition to some on their home insurance but say that your house burns down or is badly damaged by a storm, the last thing you would want to worry about is how you will get by on a daily basis, having to find a place to stay until your premise is habitable again, when you could have had this added in your policy and let your insurance company worry about it for you. Talk to your insurer for your home in Waco, Texas and make sure you have an idea exactly what they will cover you for with this policy and for how long. A policy that will provide you everything you would reasonably need for until you are able to shoulder everything on your own is already a good option.
Tags: mobile home, mobile home insurance
]]>I’ve recently purchased a mobile home here in Wichita Falls, Texas. I just notice something that says “Liability protection” as an option in my mobile home insurance policy, what is that?
Jacob
Wichita Falls, TX
The term ” Liability Protection”, in the context of a mobile home insurance policy, basically means coverage for the insured party from liabilities incurred where he/she is obligated by law to compensate for any damage or loss due done to another party. In this case, any damage to the property that the insured might have caused to a third party can be covered by an insurance policy under Liability Protection. For example, say you were driving and managed to crash your car on another person’s garage, the property damage you have caused may be covered in this policy. Note that this is something that an insurance company would rarely be happy to cover for, but in the essence of additional profit or as a competitive edge they will, so as a consumer you should be well aware of their terms and conditions regarding this.
In the long run though, this is generally a good idea to anyone considering their first mobile home insurance policy. Although it is an extra premium you pay for every month, it can potentially save you thousands of dollars more in the event that you do manage to cause property damage to someone else. You may want to consult your insurance company there in Wichita Falls, Texas, regarding what exactly will be and will not be covered under their Liability Protection policy. Remember that this is only a wise option as long as you are aware exactly how it works and how it can be to your advantage to have one.
Tags: mobile home, mobile home insurance
]]>Hi, we just purchased our first insurance policy for our mobile home. Our attorney here in Arivaca, Arizona suggested that we should consider getting an umbrella policy. What’s that? And do you think that’s better than just the mobile home insurance policy?
Janis,
Arivaca, Arizona
Getting an insurance policy for your mobile home is a good thing! This policy generally covers any incidents or accidents that involve you, your family, your houseguests and your mobile home and even your pets up to a certain limit (let’s say $100,000)! That’s already great coverage!
The purpose of the umbrella policy is to add to your homeowner’s insurance. This deals with today’s sky – rocketing medical costs and legal fees due to catastrophic and unforeseen accidents. This helps you have peace of mind because you know you are fully covered, as the umbrella policy works well with your homeowner’s policy. It also costs reasonable too.
Your insurance agent in Arizona should be able to discuss the details with you in order to determine the premium cost and amount of coverage that’s appropriate for you.
As you go about with the planning and decision making regarding adding an umbrella policy to your current mobile home insurance, make sure to that you have read and understood all details regarding the terms and conditions of your insurance. This is for you to make sure that you get the best deal out of your money! Enjoy!
Tags: mobile home insurance
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The nest is empty! Everything is changing. Retirement is near. My bride and I are anxious to see what we can do to control our costs. I was surprised by the cost of our mobile homeowners insurance. We now own our home free and clear and over the past 30 years, we have never had a claim. Any suggestions?
Clyde
Newport, RI
Congratulations, Clyde!
Mobile home insurance should be reviewed regularly. There are some pretty conventional ways to reduce your premiums. Look closely at any riders and see if they are still relevant. Your homeowners insurance has a standard deductible. With your track record, you may consider increasing that deductible to as much as $1,000.00 or could be more. This will dramatically reduce your premiums.
You can also make some improvements to your home. How about considering a security system? Installation should reduce the cost of your homeowners insurance. Don’t forget about smoke detectors. Sounds like you may have purchased your home before they were mandatory.
Over the years, you may have spread your insurances to various carriers. Some providers discount homeowners insurance if other coverages are consolidated with them.
As your mortgage is paid, you have a little more flexibility than most property owners. Most likely, your homeowners insurance provides for certain disasters. You should review these items and consider eliminating unlikely occurrences from your mobile home insurance policy. This can also definitely lower your premium. Be prudent, be safe at this very happy time. Again, congratulations Clyde.
]]>We have just upgraded our kitchen and decorated our mobile home. What should we know about cheap mobile home insurance policy in Arizona? Thank you.
Adam
Mesa, AZ
Great question, Adam!
Too many mobile homeowners purchase their policy when they buy their mobile house and automatically renew their coverage, leaving it to the carrier to increase their mobile homeowners coverage by the standard rate of inflation. Unfortunately, this rarely keeps pace with the actual cost of replacement. It is the important to consider this when adjusting your mobile homeowners policy.
Remember the difference between market value, which includes actual replacement cost of the mobile home are very different. For example, when you recently remodeled your kitchen, you most likely upgraded appliances, countertops and cabinets. You will need to factor their actual replacement cost and the replacement cost of other added features into your mobile homeowners policy.
As you are aware of changes to your mobile home, you should review your mobile homeowners policy each year. Make sure you have taken into account anything that might affect replacement cost. Do not wait for something to go wrong.
Adam, you should discuss replacement cost with your insurance representative in Arizona, a local appraiser or a local builder’s association. Once you have modified your coverage, you will be able to fully enjoy the peace of mind knowing that this very important investment is covered by your mobile insurance policy.
]]>While visiting Vermont recently, my wife and I purchased our first, bona fide antique desk. We love it but want to make sure it is covered under our mobile home insurance policy in Boston. Any recommendations?
Douglas and Sharon
Boston, MA
Hello Douglas and Sharon,
Sounds like a successful trip to a spot known for great antiques. Assuming the desk is at your house and not at another location, you will need to modify your homeowners policy. Typically when homeowners first acquire mobile home insurance they accept the policy’s standard property value coverage. As homeowners settle in, they acquire more sophisticated possessions. Most mobile home insruance policies set a value equal to 50% of the home’s value as a standard amount of insurance for items within the home. As you look around, do some quick math. That figure is probably not enough. As with your desk, you may have certain items that dramatically cause the personal property coverage provided by your homeowners policy to be inadequate.
Your homeowners policy provides remedies for this shortfall. You might want to increase your personal property coverage at an increased rate, say up to 75% of the house value, or you may want to modify your homeowners policy by adding a rider to specifically insure valuable items.
It is important to make a list of your personal property in Boston. You should include all pertinent, identifying information. This list should be kept in a very safe place not just for mobile home insurance but for other possibilities, such as theft. Once you have formulated your list, contact your agent in Boston and discuss possible updates to your homeowners policy. Meanwhile, Douglas and Sharon, enjoy your special desk.
]]>If this happens and your Boston MA mobile home insurance policy doesn’t cover you, then you should contact FEMA, which can help you in a variety of ways.
A: If you want cheap California mobile home insurance, then you should consider asking your California mobile home insurance about the discounts they offer. This is especially important in your state because, thanks to high risks such as fires and floods, California mobile home insurance tends to cost more than the usual policy.
One discount that your California mobile home insurance company probably offers is the multiple policy discount. If you get your car insurance, life insurance, California mobile home insurance, etc. with the same company, then you can pay less on all of your policies.
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