Your coverage choices to protect your type of home is fairly wide. A few years ago, you might have been in the position of having to get very basic coverage or hunt down a company that specialized in coverage for mobile or manufactured homes. Today, many companies, including specialists are available to provide a policy to you. One item that remains important, regardless the type of home you own or live in, is that you take the time to discover what options are available. You may find that policies vary considerably in coverage and price. A fairly recent development in covering mobile/manufactured homes is the approach to insured them by modifying a conventional homeowner policy with mobile home endorsements. The endorsements change key definitions and provisions of a conventional policy so that it fits the mobile home situation. A homeowners policy consists of a package that provides coverage for the home, typical outbuildings (unattached garages, sheds, etc) personal property and the liability which accompanies home ownership. An insurance company which uses the homeowners program developed by the Insurance Services Office may cover mobile homes by using the mobile home endorsements introduced several years ago. If you are a renter, your coverage options are unaffected by the type of home construction. Your primary coverage need is to protect your personal property. A common form called a HO 04 Tenants policy provides both property and liability coverage

Now for Mobile or Manufactured Home Owners

In many ways, your coverage needs are the same as a person who owns a home that’s built conventionally on a lot. You want to make sure that you get a policy that offers the broadest protection. Coverage may be available in two approaches. One actually includes a laundry list of causes of loss; the other claims to protect against everything EXCEPT for the many causes of loss which are specifically excluded. The burden of proof of coverage is placed on either the policy owner or the insurance company. The latter approach is typically broader. The liability coverage you need must protect you against the cost of injuries which other persons may suffer on your premises or which you accidentally cause. The important point about the various types of coverage is that you carefully identify the protection you desire and talk to an insurance professional in enough detail to get it. Don’t be shy, make sure you talk about everything that’s important and remember to mention any thing out of the ordinary such as hobbies, businesses, collectibles, your profession, etc. These are areas that may create the need for additional protection.

The broadest coverage available to you most likely exists when a HO-3 policy is modified with one or more of the Insurance Services Office’s MH endorsements. These endorsements address the unique losses which exist for mobile or manufactured homes. Regardless whether a company uses forms developed by the Insurance Services Office or its own, the coverage will reflect the fact that mobile homes may be transferred to a different location under its own power; its higher susceptibility to being "moved" by high winds and their tendency to have values which decrease over time. The "portability" of a mobile home has resulted in forms which protect the financial interest of the business which lent the money to purchase the home. For example, if a mobile home owner wake up and decide to live in Arkansas and drives off; forgetting to tell his Ohio lender, the lender would be out of luck if the policy didn’t include protection for this whimsical act. Typically, a mobile or manufactured home owner policy will provide coverage that's quite similar except for the following:

the coverage for unattached buildings may have a minimum coverage, say for $2,000. Such a provision helps keep the premiums for policies lower by avoiding paying claims on very low value structures. Instead of providing coverage on a replacement cost basis; it’s more likely to offer it on a actual cash value basis. Unfortunately, mobile and manufactured homes tend to lose value over time. The policy is likely to include a provision which requires you to get permission to move your home. Once granted, you’re likely to get 30 days to accomplish the move, protected by special transportation coverages that aren’t necessary for stationary homes such as collision, sinking, upset or stranding. Further, a special, higher deductible may also apply during the move. Another common coverage feature may be a provision to give coverage for your attempt to move the home or remove property from the home in order to prevent damage from an insured cause of loss. In other words, to protect your home or property which may be damaged in the attempt to save it. IMPORTANT: coverage for moving endangered property usually has a modest limit (several hundred dollars is typical) because of owners who may be too heroic or clumsy for anyone’s good.

The liability protection connected with mobile or manufactured homes tend to be identical to the liability provided to conventional home owners. Why, because the likelihood of guests to be hurt at your home or your probability of being sued tends to be the same. The important thing to remember is that your agent is a tremendous source for getting the information you need to be sure that your home and property are adequately protected at a reasonable price.