Mobile Home Insurance Information
You can also call my Houston office at 281-537-2700 for questions or to get our free Texas mobile home buyers guide. This article has some tips to help you get the best policy for your needs.The least expensive policies will often have the least amount of coverage so it is best to compare both price and features.
If you need more coverage you can purchase it from your insurance company.Standard policies limit the amount of coverage on expensive items like jewelry, furs, and computers. Most policies cover fire, theft, windstorm, hail, explosion, falling objects, and bursting of water pipes. The TWIA provides windstorm coverage for Texas county’s where most insurance companies are not willing to offer windstorm coverage because of the huge risk potential. Additionally, your mortgage company may have a set of insurance requirements you must adhere to.Coverages : Know the difference between All Risk and Named Peril coverage. Try to estimate how much it would cost you to replace your possessions and then decide if this percentage will be enough. A choice of deductibles may be available; a range from $250 to $1,000 is typical.It is advisable to get a policy with more coverage, even if the cost will be higher.
It’s essential that you get proper coverage.As much as it’s advisable for you to have broad coverage, too much coverage isn’t advisable either. However, it is specifically designed to meet the specific needs of the policy holder.Besides the mobile home, coverage also includes personal property and personal liability. Policies commonly start at $300,000 in coverage for liability, with options to increase it to $500,000 or even up to $1,000,000 in coverage on most policies. No matter how inexpensive a policy is, it is NOT good enough if it doesn’t provide the right level of coverage. You can get coverage for personal property on an actual cash value or replacement cost basis. Cash value coverage which pays the depreciated value of your damaged or stolen property. You can spread the cost over the course of a year and some insurers, including ourselves, will not charge for this. Remember, the reinstatement cost is unlikely to be the same as the market value of the property or the price that you paid for it! It is also advisable to have flood coverage but that normally requires a second policy.Some policies will have a discount if you get a package of coverage’s and that is a good way to save.
It is better you choose to pay higher and enjoy reduced premium rate.Getting multiple policies from an insurer is one sure way to get a discount package. Also consider using the same company for your auto and home insurance so you can qualify for a multiple policy discount. Be sure to review all the options and coverage’s the policy you select has.Texas residents can call my office for more information at 281-537-2700.
Texas residents are invited to call my Houston renters insurance office for additional information at 281-537-2700. Or you can visit our Texas Mobile Home Insurance website.