The population of Arizona is growing rapidly, making it the fastest-growing US state with a population of over 7,640,796 (2022). Due to its pleasant weather and unique culture, a large number of American retirees relocate to Arizona every year. In addition to that, the vast majority of Arizonians prefer to live in manufactured homes.
We interviewed Sara Routhier, Managing Editor, and Outreach Director at Mobile Home Insurance Quotes to clarify what you should know about Arizona Mobile Home Insurance. Here are the must-know facts and best-kept secrets about Arizona mobile home insurance, and what it covers.
Do You Need Mobile Home Insurance?
Mobile and modular homes are both quite costly. The newly manufactured mobile houses cost about $92,600 on average. Therefore, it is recommended and a requirement by most mortgage companies to get your mobile home insured. You may think to avoid getting mobile home insurance because of its cost. However, the insurance coverage will make your life easy by providing you substance in case of large financial loss.
What Does Mobile Home Insurance Cover?
Manufactured home insurance includes liability coverage and coverage for the policyholder’s home and personal belongings. The following are some of the coverages covered by mobile home insurance.
#1: Personal Property
Like regular home insurance, mobile home insurance also protects your personal property, no matter if damaged or stolen. The mobile home insurance company also covers your personal belongings. For example, if your mobile phone, laptop, TV, or another personal item is stolen from your home, your insurance has got you covered.
#2: Liability Protection
Liability is also covered by mobile home insurance. In some cases, if another person is injured on your property, for example, by a fallen tree, you can be held accountable. In such cases, your mobile home insurance covers the legal defense fee and also pays for the compensation in case you’re found liable.
#3: Dwelling Coverage
Your mobile home insurance also covers the cost of rebuilding and repair of the physical structure of your home in case of damage.
For example, if a calamity causes a structure in your mobile home to fall, it would be protected under housing coverage. Your roof and a deck linked to your mobile home are two more features that are protected under dwelling coverage.
Factors Affecting the Cost of Mobile Home Insurance
Mobile home insurance policies are different because not all mobile homes are similar. Mobile home insurance policies provide different coverages depending on the cost. Some of the other factors that affect the cost of mobile home insurance are:
#1: Location
The location of your mobile home is an important factor in determining the cost of your mobile home insurance. Areas affected by floods, theft, and other claims are identified using postal codes.
#2: Age of Home
Age of home is one of the main factors that determine the cost of insurance. Old homes are more prone to damage than new ones.
#3: Claim History
If you have never claimed, then you are entitled to some discount from the mobile home insurance provider.
#4: Construction
The type of material used to build your mobile home also plays an important role in determining the cost of your mobile home insurance.
Takeaway:
If you have moved to Arizona and purchased a mobile home, then you need to fulfill Arizona mobile home insurance requirements set by the mortgage companies. This insurance provides lots of coverage to save you from financial loss.
