Mobile home insurance covers the mobile home and any other structures on the same piece of land. Buildings such as sheds and detached garages are included. Protection is offered in the event of losses from windstorm, fire, falling objects, lightning, and certain explosions. Coverage does not extend, however, to times when the mobile home is in transit.
Contents inside the mobile home and adjacent buildings on the property are covered from loss under the mobile home insurance policy. Furniture, appliances, certain electronics, and other personal effects are included as personal property. Limited coverage also extends while the property is away from your mobile home. This coverage is usually offered at lower limits.
Mobile home insurance protects the policyholder in the event that an accident occurs in or around the mobile home. This coverage pays for medical expenses of visitors (nonresidents). It also covers legal damages or defense costs resulting from a covered accident.
Unlike homeowner's insurance, the rates and premiums for mobile home insurance are much lower. The lower premiums are due to the fact that the property of a mobile home is exponentially lower than the property value of a normal home. Even if a natural disaster or fire struck, the total claim payout would be significantly less.