Home insurance provides residents with financial protection from loss or damage as well as protection from possible lawsuits should another person become injured on their property. Homeowners insurance quotes include not only coverage for the home itself, but also extends to all personal property owned by the resident as well as other buildings on the property. Such perils included in home insurance policies are fire, theft, smoke, explosion, riot, and impact by aircraft and land vehicle. A person could insure one of several types of policies, including, condos, single family homes, and trailer homes.
A homeowner’s insurance policy is usually in effect for a term of one year. At that time, it can be renewed for an additional year. The premiums are dependent on several factors. The age and location of the house as well as the replacement cost are major influences. Past insurance claims for both the property and owner are reviewed. Coverages and exclusions are clearly explained in the contract and payout is determined by an insurance claims agent. As there are often limits on the amount that can be paid out in a loss, homeowners can purchase riders to cover items like jewelry, art, electronics, or other valuables.
Mobile home insurance is one type of insurance available for homeowners if they own a trailer home. This coverage protects the building as well as the owner’s personal property. Insurance companies base their policies on the amount of risk a property poses to them. This means that properties that are more likely to suffer a claim will be assessed a higher premium. Mobile home insurance falls into this category.
When you compare homeowners insurance quotes and advise the agent that you are insuring a trailer home they will ask you specific questions about the property to provide you with a more accurate quote. A mobile home is not as secure as a single family dwelling. At times, they can be easier to break into and vandalize. Although personal property inside the mobile home is covered by the policy, if there was any sign of negligence on the homeowner’s part, then the policy may not pay out the claim. The location of mobile homes often make them a easy targets of theft or vandalism.
Trailer homes are far more easily damaged than a single family home. This is because they are not anchored to the ground like a regular home; they do not have stable foundations. If there is a tornado or a storm, it is more likely to suffer damage. As well, the materials that are used to manufacture a mobile home are of lesser quality and durability than brick or concrete.