In Texas, mobile homeowners buy insurance to protect their investment. However, they must review the policies to define exactly what they receive from the policy itself. A local insurance company can provide them with assistance with this assessment. The following is information about what these owners can expect from Mobile Home Insurance in Austin TX.
Value Provided for a Total Loss
Unlike homeowner’s insurance, a mobile home owner won’t receive a high return if their mobile home is destroyed. The value of these properties can depreciate faster than other single family homes. The resale value of the property is what the owner will receive if the property cannot be restored. This value is based on the price achievable if the property is restored or repaired.
Personal Belongings Inside the Property
The property owner acquires coverage for their personal belongings. The policy provides a standard value for these personal items based on all items together. However, if the owner acquires a rider for certain items, they receive the full value for the items when they file a claim. These items require a professional appraisal included in the rider.
Power Outage Coverage
These property owners can acquire coverage for losses connected to power outages. When a natural disaster occurs, it is likely that the homeowner will lose power for an extended period of time. This presents a higher probability that they will lose groceries that could have cost a couple hundred dollars. The policy will replace these groceries if the owner files a claim.
Temporary Housing Funds
Temporary housing funds also assist when the property owner is displaced. The funds are released to the property owner after the claim is filed. They are provided to cover all housing expenses for the property owner until they can return to their home.
In Texas, mobile homeowners may face some restrictions in terms of insurance coverage. This depends on the exact type of home identified in coverage. There are differences in insurance policies that protect mobile homes and more traditional single-family properties. Property owners who need Mobile Home Insurance in Austin TX contact Perdue Insurance Group today for more information.
