What You Need to Know About Flood Insurance for Mobile Homes

Mobile homes are a great way to live life on the go while staying cozy and comfortable. You won’t be restricted by one address, which means you can hit the road and travel as far and long as your heart desires. They’re also affordable, which means people can access homeownership more quickly since they won’t pay property taxes. Also known as caravans, trailer homes, RVs, or motor homes, these allow homeowners the security of a place to call their own while having the freedom to enjoy a change of scenery.

Still, mobile homes tend to stay permanently or semi-permanently in one place. Sometimes, they need to be moved elsewhere for legal reasons. Regardless, all mobile homeowners must consider purchasing a home insurance policy to protect their property against damage or risk. If you live in a high-risk area prone to floods, this becomes even more important. Here’s what you need to know about it:

The Importance of Coverage

Even if you believe you won’t need flood insurance, you can still encounter water damage from floods that happen far from flood zones. It’s important to note that more than 20 percent of flood claims occur out of high-risk areas that experience frequent floods. Nearly 1 in 4 flood claims occur in low- to moderate-risk areas, so even when you don’t expect it, a flood can ravage your home.

Having the best mobile home insurance also provides you with liability coverage, giving you and your loved ones the protection you need if a natural disaster causes physical injuries or damage to you or your personal property. While personal liability insurance may seem like an additional burden or an extra cost, it will cover the expenses involved in water damage restoration, like the cash value of your damaged personal belongings.

Purchasing flood insurance can also result in lower deductible payments if a natural disaster strikes. The deductible is the amount you’ll need to pay out of pocket before the insurance pays for the rest of the expenses.

Eligibility Criteria for Flood Insurance Protection

However, before purchasing flood insurance, you’ll have to make sure that your mobile home qualifies for it. The National Flood Insurance Program laid out the following criteria that you must meet to be eligible for insurance:

• Your mobile home must be affixed to a permanent foundation and built on a permanent frame, ensuring stability and sturdiness

• If your mobile home is a tractor-trailer, it will have effective flood insurance only if its wheels have been removed, it was built on a permanent frame, and if it was attached to a permanent foundation

If your mobile home fulfills these requirements, you can purchase an additional policy for extra coverage against flood damage.

Insured Coverage Areas for Mobile Homes

Flood insurance can protect your mobile home in various circumstances. For instance, it will protect your belongings inside your mobile home, which means you won’t be responsible for replacing your possessions when a flood damages them. A federal NFIP plan can pay for up to $100,00 in contents coverage, ensuring that your belongings are protected during a flood. You can also choose a private insurer that can offer more benefits, like reimbursing belongings for their current cost even when you purchased the items years ago.

Additionally, flood insurance will cover the physical structure of your mobile home, covering any costs incurred when it is subjected to flood damage. If you use a federal NFIP policy, it will cover up to $250,000. If you use a different kind of policy, such as those from private insurers, you’ll enjoy more building coverage and fewer limits, but you may not need this if you’re trying to protect your small mobile home.

You’ll also enjoy the loss of use coverage, which means your policy will cover additional living expenses incurred when a flood damages your mobile home so severely that you can no longer live in or use the home. It also covers relocation costs if you have no choice but to live elsewhere, like a hotel, until your mobile home is repaired and rehabilitated. However, this benefit is available only from private flood insurers.

Conclusion

Buying flood insurance may seem like an extra expense, but it can help you save thousands of dollars in the event of a flood. By insuring your mobile home against flood, you can rest assured that all your belongings will be safe, giving you valuable peace of mind.

Sanford Insurance Center offers the best mobile home insurance in Florida. We provide insurance coverage for mobile and manufactured homes throughout the state, including adult parks, family parks, private property, secondary or vacation homes, and even rentals. Contact us today to learn more about how we can protect your home!