If you have filed major claim(s) on your mobile home or manufactured home insurance recently, you may have been surprised to get a notice of cancellation shortly after. But the fact is, this is happening more and more often. Companies are turning away from insureds who file major claims on their mobile home insurance.
This is especially true if the claim was the result of a fire, a liability claim from a dog bite, or any other high dollar claim (the thresholds vary from company to company, but in general, the threshold is usually around $4000). Any major claim that pays out a substantial amount of money could risk your policy being canceled at renewal.
This is especially distressful for those who have financed their mobile home and are required to carrry mobile home insurance. Where do you go now? The last thing you want to do is have the bank force their mobile home insurance on you, and add the premium to your mortgage payment (ouch!). You never want to do that unless you just absolutely have to.
Fortunately there are some companies out there who are a little more forgiving about having a major claim on their mobile home insurance. I can help you find mobile home insurance through a couple different channels. Some mobile home owners have given up and already switched to their state's Fair Plan..... But before doing that, I have found some mobile home insurance companies who are a little more forgiving as far as claims are concerned.
When filling out an online mobile home insurance quote, be sure that you are accurate as possible with providing claims information. If not, you're going to get an inaccurate quote that will be adjusted before the policy starts. That's because mobile home insurance companies will run what is called a CLUE report. These CLUE reports show any insurance claims you have made including how much was paid out, an what type of loss and the date of loss.
Will my premium go up after a claim?
The honest hard answer for this is yes. When you file a major insurance claim of any kind your rates usually go up. But with mobile homes, the claim seems to be that much more drastic in the eyes of insurance companies. However, getting quotes with multiple companies will lease give you your best chance at getting a lower rate.
Can I do anything to lower my premium?
The best thing you can do to lower your premium would be to raise your deductible. Granted, you will be paying more out-of-pocket expenses on any future claims. At least you know the risks are calculated versus lowering coverages on other parts of the policy.
If you would like to get a mobile home insurance quote, simply click on the link below and I will run your information through my mobile home insurance companies. I handle all quotes personally and privately and do not share or sell your information to anyone. I will do my best to find you the company with the lowest rate.
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Dan Lyles is an Independent Insurance Agent serving Ohio, Indiana, Michigan, Pennsylvania, Virginia and West Virginia..