Buying mobile home insurance in Ohio is very easy to do. However, you must understand the coverages before you can buy a policy. Going in blindly without knowing coverages, and just buying any mobile home policy could lead to major headaches in the future. This article will help you understand the basics of an Ohio mobile home insurance policy, so that you know how to pick the right type of coverage for your needs.
If you are familiar with homeowners insurance, mobile home insurance is very similar in some ways but different in others. So to better help you understand mobile home insurance and how the coverage works, let's start off with the six basic coverages that any good mobile home policy should have:
1. Dwelling Coverage.
This is your main coverage. This is what insures the mobile home itself and any other structures permanently attached to your mobile home. If your home is damaged or destroyed, dwelling coverage will be the coverage that repairs or replaces it. You want to make sure that you have plenty of coverage here. If your mobile home gets destroyed in a fire, you would need coverage that will completely replace your mobile home. Many mobile home owners aren't carrying enough coverage. Also, the coverage level you choose for your dwelling also affects the coverage levels of other major components listed below, as some are based on a percentage of the coverage levels you have for dwelling coverage.
2. Other Structures Coverage.
This covers any other structures on your property that is not permanently attached to your mobile home. This could include things such as a hot tub, gazebo, tool shed, etc.
3. Personal Property coverage.
Personal property coverage is another major component in which you want to be damn sure that you have enough coverage to replace all of your personal property. This includes just about everything as far as contents is concerned: furniture, clothing, kitchen ware, electronics and tools just to name a few. You get the idea! If your mobile home gets destroyed, replacing your personal property can cost a fortune!
4. Liability coverage.
Liability coverage is very important in case a visitor gets seriously injured on your property. Let’s suppose someone falls on your property, breaks their neck, and decides to sue you. This is where liability coverage comes into play. A good mobile Home Insurance policy will offer up to $100,000 in coverage.
*** Note: Pools, trampolines and dangerous pets… Mobile Home Insurance companies vary greatly so if you have any of the above you need to take a good look at your policy to see if there’s any exclusions or limitations. Many companies will either limit liability coverage or exclude liability coverage completely for pools, trampolines and dangerous pets.
5. Medical payments to others coverage.
This coverage is very similar to liability coverage, in that it covers you for people who get injured on your property. The difference between the two is that medical payments to others coverage is intended to cover minor injuries. Most mobile Home Insurance companies will offer up to a $1000 or $2000 limit.
6. Damage to personal property of others coverage.
This covers you for damage if you or someone in your household damages other people’s property. The amount of coverage offered varies from one company to the next. But it is usually only offered in low amounts.
Other aspects of Ohio Mobile Home Insurance that you need to be aware of:
What types of mobile homes are acceptable?
Besides a regular mobile home, you can also insure a manufactured home, modular home and 5th wheel campers and travel trailers. (5th wheel campers and travel trailers must have permanently attached fixtures to it, and can only be used as a seasonal residence).
5th wheel campers and travel trailers: Mobile Home Insurance or Motor Home (RV) Insurance?
There is some confusion about whether fifth wheel campers and travel trailers should be insured under a Mobile Home Insurance policy or a Motor Home Insurance policy? The answer depends on its signs of permanency. The basic rule of thumb is: if your fifth wheel camper or travel trailer can be moved within 30 minutes without professional help, it should be insured under a motor home policy. If it takes longer to move your home than 30 minutes, or requires professional help to be moved, then it should be insured under a mobile home policy.
Replacement cost coverage versus actual cash value coverage.
For those of you with mobile homes 10 years or newer, your mobile home qualifies for Replacement cost coverage. If you qualify for replacement cost coverage for your mobile home, I highly suggest you take that coverage versus Actual cash value coverage. Replacement cost coverage doesn't factor in market value or depreciation like actual cash value does. The difference is price is minimal, but the difference is coverage is huge! Always go with replacement cost coverage if it's available to you.
I've had prior claims on a mobile home before. Can I still find coverage?
In most cases, yes, but it depends on what those claims were and what the dollar amounts paid out were. Some companies will allow you to be insured with as many as five claims. Some companies are more lenient than others. So if you have had any claims in the past, you may need to shop around a little more. But finding coverage at an affordable rate is still doable even with prior claims.
You have many companies to choose from buying mobile Home Insurance. However the levels of coverage you carry are critically important. You’d be very surprised to learn that there’s very little difference in price between a good Mobile Home Insurance policy and a lousy one.
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Dan Lyles is an Independent Insurance Agent serving Ohio, Indiana, Michigan, Pennsylvania, Virginia and West Virginia..