When you purchase a new home, you begin to focus on the future and all of the fun plans for your abode. There are many unforeseen occurrences and expenses that come with owning a home. This is no different for those who reside in manufactured and mobile homes. Since anything can happen, from injuries to “acts od God,” it is important that owners get the best mobile home insurance policy available. Mobile home insurance is just like regular homeowners insurance with a few special coverages that are specific to these types of home. Policies offer comprehensive coverage which provides coverage for losses such as hail or wind damage, collapse from snow or ice weight, damage from stray animals, burst pipes, theft, explosions, landslides, vandalism and fire. We see a lot of mobile home policies on the market that are very “skinny” when it comes to coverage and covered losses. It is important to protect your investment with a flexible mobile home policy.
There are two common types of loss settlement, replacement cost value (RCV) and actual cash value (ACV). Most mobile home policies on the market only offer ACV. Actual cash value is what you paid for it when you purchased it less depreciation. This is highly inadequate being that a mobile home does depreciate unlike a standard single family dwelling. In the event of a loss you would receive a fraction of what the value was. Our mobile home policy actually does off replacement cost value. Which simply replaces old for new for what it cost to replace it today. Part of the reason why most carriers only offer AVC is because mobile homes are considered a “tinder box”. If a fire starts it is more likely you have a total loss unlike a single family home where fires are more commonly a partial loss. Because of this liability exposure other carriers do not want to pay out RCV. There is also no limit to the age of the mobile home. Agreed value is also available which means we would pay out the agreed amount. Our knowledgeable agents are readily available to talk about what best suits your specific needs.
707 Grady Way Ste 600
Renton, W.A. 98057
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