As with all your valuable property, insuring a mobile home or modular unit is a critical step in risk management. However, coverage for mobile units varies somewhat from typical property insurance, mostly due to the specific perils mobile homes face. When applying for a new policy, here are a few tips to keep in mind:

  1. Get an accurate appraisal for your mobile home. Your coverage is determined based on the value of your home. Under or overvaluing your mobile home can lead to insufficient coverage.
  2. Set a feasible deductible. Your deductible is the amount of risk your willing to bear. For instance, a $5,000 deductible means you will cover the first $5,000 in damages out of pocket. Higher deductibles usually mean lower premiums. However, if the deductible is too high, you may not be able to cover your losses.
  3. Bundle your policies. If you own a car or another property, insuring a mobile home with the same company that holds your other policies will likely secure you a lower rate.
  4. Choose between open and named peril. Open peril is blanket coverage for most kinds of losses, including weather and fire. Named peril refers to specific occurrences, named in your policy, such as earthquakes or landslides.

Don’t risk losing your mobile home due to insufficient coverage. Protect your home and your financial safety with mobile home insurance.

Four Tips for Insuring a Mobile Home