by Michael Riley

Created on: February 08, 2009

The process of purchasing an insurance policy for a manufactured or mobile home is basically the same as buying a standard homeowner's policy, with just a few exceptions.

Every homeowner's insurance policy should have coverage for the structure, including all of those located on your property that you own, personal property for all your belongings, and liability coverage for your family and any of your guests.

Having a manufactured home or mobile home...both are the same since the government changed the name from mobile to manufactured for anything built after June 15, 1976...means that you have a few other things to consider. Such as, when do you start your coverage? As soon as it leaves the lot? Once it sits on your land? Or, should you have coverage to move your home if there is some type of natural disaster such as a slowly flooding river or perhaps a forest fire approaching your land? These types of things should all be considered.

For structure coverage, you need to determine whether you will have replacement cost or actual cash value. With replacement cost, you are reimbursed for the cost you incur to replace your home with similar property, brand new. With actual cash value, you are paid the current replacement cost of whatever you lost, minus depreciation. (This generally includes the estimated wear and tear on the item damaged or the loss in value of that item because of aging and use). If you have an older mobile home, you won't be getting much back with an actual cash value policy.

As part of your structure coverage, you have to look at the types of things that are covered. Some policies will be very limited in scope and could prevent you from collecting on your policy if something catastrophic were to happen. Make sure you are covered for typical perils like fire, windstorms, hail, lightning, and explosions. These policies are considered comprehensive and will provide you with the most protection.

For personal property coverage, you need to take a full assessment of your belongings and determine what type of monetary coverage you need. What would it cost to replace all of your personal belongings? You may also want to get extended coverage for specific items like jewelry and firearms that aren't typically covered. You also have the choice of selecting replacement cost or actual cash value for your belongings which was discussed above.

In order to make sure that all of your personal property is covered, make a complete inventory of your belongings and

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