Many mobile homes are built to the same standards as a regular home. However, it is sometimes difficult to get homeowners’ insurance for mobile homes in Florida. Once a mobile home insurance policy is in place, a common question is whether that new policy also covers water damage to your mobile home. This is important because Florida is a hurricane prone state and flood is a serious risk here. Here is more information:
Mobile homes are eligible for water damage cover but it really depends on the provider
When it comes to flood insurance (flood is one of the biggest threat in Florida), most homeowners’ insurance policies don’t insure for it (from rising water). For a long time, flood insurance was available under the National Flood Insurance Program.
Now many private companies have begun offering flood insurance (separate homeowners’ insurance). So you may be able to buy this policy from the same company that you bought your homeowners’ insurance from. Other types of water damage may or may not be covered by your mobile home homeowners’ policy. In some cases, you may have to buy additional rider to your policy.
Types of homeowners’ insurance policies
There are basically two type of homeowners’ policies. They are basic (HO-8) and special ( HO-3). Here is a bit more about both of them.
Basic policy– A basic policy provides the most basic insurance covers. It covers specific perils such as damage from lightening, fire, explosion, civil unrest, riots, hail, wind, malicious mischief and vandalism. Water damage and theft are usually not covered. The insurance is only for the things that are listed in the policy, which means you may be losing out on many covers. An excluded list of covers will also be given to you.
Special policy– Special policies are the most common homeowners’ policies in Florida. Unlike a basic cover, this policy covers all types of losses, exluding those which have been specifically mentioned in the policy. A special policy also protects against loss of use which means if your home is being repaired under a covered loss, you will receive living expenses for the duration of the repairs. So water damage is covered in this policy, unless explicitly mentioned otherwise. Naturally, you will have to pay more for this policy compared to a basic policy, but the extra money is worth it.
You can save a lot of money on your homeowners’ insurance policy by shopping around. We have access to the best insurance companies in Florida and we assure you that you will get the best insurance quotes.
