- Mobile home insurance policies give two main types of coverage: physical damage coverage and personal liability coverage. These alternatives are typically offered for mobile rental homes, commercial mobile homes, seasonal mobile homes, or homes located in a park or private property.
- Physical damage coverage: Accidental damage to your mobile home, goods, or other structures (such as attached patios or decks, garages, and storage sheds) caused by fire, hail, wind, theft, vandalism, or falling objects is covered by physical damage coverage. Flooding, like standard home insurance, is not covered. You can obtain separate flood insurance if you live in a flood zone.
- Personal liability coverage protects you if someone is injured or their property is damaged due to your activities. Medical expenditures, missed wages, pain, suffering, and even property damage to others could all be grounds for a claim (liability coverage does not pay claims for injuries to you or the members of your household). If the amount of insurance required to cover your valuables exceeds what is included with a mobile home insurance policy, consider obtaining additional liability insurance.
Peril policies provide basic insurance coverage and only cover certain types of losses. While the low premiums may appear to be a steal, you won't be protected if your mobile home is destroyed by something other than one of the policy's restricted stated hazards. You will have to pay for repairs or replacement yourself.