Do You Need Mobile Home Insurance in Ohio?
There are many good things to say about manufactured homes in Northeastern Ohio. Some of these properties have many features of a foundation built home and you can buy a new house for much less than the price of building one on site. However, not all insurance companies offer mobile home insurance and it is important to choose an agent who can help you find the right coverage and be there when you need assistance. If not, you might experience problems like Vivian and Ivan R, in our example story.
Ivan and Vivian were looking for a new home and they wanted 4 bedrooms and 2 baths to accommodate their growing family. They found a few older homes in nice neighborhoods but the prices were beyond their household budget. After searching, the couple came across a brand new manufactured home with everything they needed. Plus, the monthly mortgage payment fit well into their finances.
They needed to find a homeowners policy and settled on the first company that offered the coverage. After all, most manufactured home insurance policies are pretty much the same (or so they thought). The premiums were affordable and satisfied the requirements of the mortgage company so that was all that mattered at the time.
The couple and their kids moved into their spacious new home and everything was fine for almost three years. However, one warm spring day, a line of strong thunderstorms swept across the Midwest and spawned several tornadoes. A fairly large tornado dropped down out of the clouds a mile from their home and cut a large swath, taking out many houses in the mobile home park, including the lovely home owned by Vivian and Ivan.
Fortunately no one was home, but the place was a total loss. Then to add insult to injury, they learned their homeowner policy only provided fair market value coverage on the property. Had they taken out replacement cost coverage they would have received a new home. Instead, the insurance payoff was not enough to cover the mortgage balance. This made it very difficult to find another home and they had to settle for something less than they really wanted.
Defining Mobile Home Insurance
Insuring a manufactured or mobile home is similar to standard homeowners insurance. However, most of these homes are not on foundations and the construction is not the same. This is why one should choose an agent with a great deal of knowledge on these properties.
Who Needs This Kind of Insurance?
If you own a home which is not fixed to a foundation, you should consider special home owners insurance. This includes:
- Mobile homes
- Manufactured homes - a manufactured home has construction similar to a standard house with shingled roofing and standard siding, but no concrete foundation. Mobile homes may have metal roofs and siding and are not as sturdy, usually. However, manufactured homes are often referred to as "mobile homes".
- Mobile and manufactured homes in parks
- Manufactured and mobile homes on private land
- Seasonal mobile home owners
- Mobile home rentals (when not for monetary purposes). For example, you may let a friend occupy a mobile home you own for a specified amount of time.
What Basic Manufactured Home Insurance Will I Need?
You will need the same basic insurance as most homeowners. For example:
- Property insurance
- Home contents
- Liability insurance
Options for Mobile Home Insurance in Ohio
You may have several different coverage options to consider, as such:
- Wind damage - very important for mobile homes and may not be included in standard hazard insurance.
- Replacement cost insurance - pays to replace your unit with a new one (if it is 10 years old or less). This is critical because most manufactured and mobile homes depreciate in value over the years and fair market coverage will be less, as the years go by.
- Tie down equipment
- Tree removal
- Dog bites - if you own a dog you should consider this liability insurance.
- Sewer backups
- Flood insurance
- Sinkhole damage
- Earthquake insurance
- Food spoilage
- Emergency repairs and protection (like roofing tarps)
- Fire department fees
Finding the Right Manufactured Home Insurance
When you look to insure your mobile home, you should take several factors into consideration. For example, you want everything covered and you also need the lowest possible premiums. Plus, you'll need to check with several different insurers and read over all the policy language. However, all this hard work is done for you when you come to The R.C. Cook Insurance Agency.
We are an independent agency working for our clients (not an insurance company). We do all the comparison shopping, and our experienced insurance professionals are here to explain insurance terms and language to you. The R.C. Cook Insurance Agency has more than 50 years of experience in the business and we offer a variety of discounts for mobile home owners. We also provide expert insurance advice and claims reps who understand mobile homes.
Don't wait until it's too late to find out your beautiful manufactured home is not properly insured. Come to The R.C. Cook Insurance Agency for a fast free quote on your insurance. We are also available during normal business hours at (330) 296-3628.