Mobile home insurance in St. Cloud, FL is a very special category of homeowners’ insurance policy that is specifically designed to cover an entirely different set of risks as compared to a conventional site-built house. Please call us at 407-344-1228 or email us at [email protected] for any insurance needs you may have.
As a matter of fact, many mobile homes are actually built not at the construction site but at the factory. This means that their construction materials have to be considerably lighter for overall ease of transportation. When they are transported to the area or site where they will be affixed, it is necessary to tie them down with the help of ground anchors for increased stability. Here, it is pertinent to note that these mobile homes are not just designed but also built differently than their ‘fixed type house’ counterparts. This is why such mobile homes need an entirely different and special insurance policy that will provide coverage with regard to the many added risks that generally come with any strapped-down residential structures, especially when compared to one that has been built on an onsite solid concrete foundation.
- Key Differences Between Mobile Home Insurance in St. Cloud, FL Policies and Their Modular Home Counterparts?
The average modular home is actually built more like an on-site house with its own foundation. But the main difference is that it has been built at a factory rather than constructed on-site. This house is built in segments and these segments are transported to the desired location where they are actually assembled on location. That is the place where the foundation has been dug beforehand.
From the insurance point of view, it is possible to treat the modular home more like a purpose-built on-site house rather than a mobile home. The reasoning behind this, from the insurance company point of view, centers around the fact that the risk factor is lower than that of a mobile home. In case of a hurricane (for instance), the modular home will not be ripped away from its foundations like a mobile house. Basically, the modular home is a cross between the two. However, many companies that provide mobile home insurance in St. Cloud, FL, consider modular homes at par with mobile homes in terms of charging higher annual premiums.
- Statutory Issues Regarding Mobile Homes
Mobile home insurance is a statutory requirement in all the states that constitute the union, just like normal HOI (homeowners insurance). In other words, it is not possible to purchase even a pre-owned mobile house legally, without acquiring mobile home insurance in St. Cloud, FL, for both property as well as liabilities. It is certainly true that the annual cost of mobile home insurance in St. Cloud, FL, is pretty high. That is higher than traditional homeowners’ insurance, but the average mobile home is a lot cheaper than most permanent residential structures. This means that the mean cost of mobile home insurance is bound to be less than the corresponding HOI. However, from a purely proportional point of view, mobile home insurance in St. Cloud, FL, is certainly more expensive. There are many reasons for it. Let us take a closer look at a few of them.
- The Average Mobile Homes Have Very High Theft Exposure
Whenever an insurance service provider offers a quote for its coverage, it is vectoring in the likelihood that a claim may be presented. Most companies include the theft or robbery of personal artifacts in their property coverage. Barring a few contingencies (such as your failure to take adequate protection by keeping your doors and windows unlocked and open), it is highly probable that the insurance company will compensate you in case there has been a burglary at your mobile home.
The average mobile home is almost always less secure than its permanent counterpart. There are many reasons behind it, ranging from inadequate safety measures to high crime areas to the fact that any mobile park has a lot of traffic when compared to a neighborhood containing permanent residences. Basically, whenever large numbers of people pass through a place, the risk of exposure to theft becomes correspondingly higher. This is why the average insurance company will take this into consideration whenever they decide to charge annual premiums for mobile home insurance in St. Cloud, FL. Here, precedent also plays an important role. If an area already has had multiple theft claims, then it will lead to a corresponding increase in insurance premium rates for the whole area.
- Mobile Homes Typically Have A Very High Damage Exposure Rate
The mobile homes are mobile for a reason— they can be transported from point A to point B. In order to make it road worthy, it has to be lighter than any concrete structure with a really strong foundation. This makes them prone to a much higher damage rate. There are many reasons for this. First and foremost, the mobile home is not properly anchored to the ground because it does not really have an actual foundation. This means that it is basically ‘sitting’ on the ground and any natural disaster such as a tornado or a hurricane can easily uproot it from its original location. Furthermore, various sections may become loose and be severed from the main house, thus rendering it completely uninhabitable until it is repaired and/or rebuilt.
Aside from its lack of foundation, the mobile home also has very high damage exposure due to the type of material that has been used in its construction. The fully constructed home is generally made of cement, bricks and very thick insulation. This means that it is considerably more resistant to such accidental damage than the fragile sidings that come as standard with most mobile homes. Furthermore, the roofing of a permanent structure is generally able to withstand inclement weather much better than the roofing that is commonly found on most mobile homes. In light of the above, the insurance service provider expects more repair claims from its mobile home-owning customers in case the area is struck by a violent storm. This is why it will increase its premium rates across the board in order to cover the costs of repairing such damage.
- The Different States Have Entirely Different Requirements
Mobile home Insurance requirements do not come under the ambit of the federal government; rather, they are purely a state preserve. This means that you will be bound to carry mobile home Insurance in St. Cloud, FL, coverage in order to be in full compliance with all the legal requirements of your state of residence. However, in order to understand all the rules and regulations, it is important that you ask for a quote for mobile home insurance from an insurance company. Only then will they tell you about any restrictions or modalities that exist regarding your insurance application. It is absolutely imperative that you keep all such considerations in mind before signing on the dotted line, lest your policy becomes null and void.
- Mobile Home Insurance St. Cloud, FL Costs
Mobile home insurance can cost a lot, or alternatively, the annual premium rates can be very low. it basically depends upon the kind of insurance plan you have in mind. The bare-bones coverage will be considerably inexpensive, but on the other hand, if you were to opt for many different coverage policies simultaneously, then the costs will rise with the addition of the multiple clauses. Let us take a look at some of the more necessary provisos that should always be part of your mobile home insurance policy.
- Fire and Lightning
This is arguably the single most basic clause in any mobile home insurance in St. Cloud, FL, policy. In case the mobile home is hit by a lightning strike or there is a fire, then you will be protected and the insurance company will repair or rebuild your house.
These can occur at any time due to any number of factors ranging from terror attacks to arson to gas line ruptures.
This is a hazard unique only to mountainous areas that are prone to heavy rains and snowfall. In case you live in such an area, it is imperative that you should have landslide protection as part of your insurance policy plan.Conversely, if you live on a plain or near the sea, then you can dispense with this protection and instead substitute it for hurricane or tornado protection.
- Additional Living Cost Coverage
In case an unfortunate event has damaged your mobile home to such an extent that it is no longer habitable, you will need ‘additional living cost coverage’. By this it is meant that till such time as adequate repairs take place, you will be fully compensated throughout your stay at any temporary accommodation (such as a hotel and motel). All such coverage will be governed by your mobile insurance in St. Cloud, Fl, policy. If the policy covers you up till an average of $100 per day, then any expenses over and beyond this amount will come from your pocket.
Mr. Smith lost his mobile home to arson. Since he had both arsons as well as additional living cost coverage, he was able to find temporary accommodation at the nearest five-star hotel. However, his insurance company allowed him to have daily expenses up to $150 only, while he was spending $ 500 per day. When presented with the expense sheets, the insurance company expressly refused to pay the remaining amount and he had to foot the remaining bill himself.
This is particularly important if your home is located in a high crime area. In fact the higher the crime rate, the more important it is to get vandalism and theft protection. However, for very high crime rate areas, the annual premium charges of mobile home insurance in St. Cloud, FL, will be higher than in most other low crime rate localities.
- Burst pipes
The burst pipes’ clause is of particular importance in really cold climates. The havoc that a burst pipe can wreak on a mobile home is unimaginable. If the rupture is bad enough, it can destroy the walls and the flooring, and the inhabitants of the house will have to shift until it is fully repaired or rebuilt. Some of the other important clauses in any mobile home insurance include the following:
- Falling objects
- Wind and hail
- The weight of ice and snow (which can weaken the roofing of your house)
- Wild or stray animals attacks
Apart from the above, your mobile home insurance in St. Cloud, FL, policy should also contain a liability clause that will insure you against third-party litigation and compensation. For example, in case a visitor gets injured while in your home, he will have the right to sue you. Without liability insurance, not only will you have to foot the bill but also pay any compensation deemed fit by the court of law.
But should you have liability insurance, then you will be adequately covered and there will be no need to pay anything from your own pocket. However, the policy will stipulate the maximum compensation amount that will have been paid by the agency concerned. If it exceeds the policy limit, you will have to pay the remainder.
In light of the above, we can safely determine that mobile home insurance in St. Cloud, Fl, is an absolute must for your non-conventional residence. Moreover, it is very important that you have at least some sort of insurance coverage for your mobile home since it can be easily damaged or even destroyed due to unforeseen events.
Please call us at 407-344-1228 or email us at [email protected] for any insurance needs you may have.