By Eamon Moran
When you are in the market to purchase a mobile home, there are several points you need to consider before purchasing. Failure to get advice on the mobile home you purchase can lead to difficulties insuring your property.
If you are purchasing a pre-owned (used) mobile home, make sure to consider the following:
- Always get your mobile home appraised by a professional. The more information you have about the mobile home, more you will lead to make a better-informed decision. By getting a professional to review the structure of your home, you should be able to get a clear view on the age of the second-hand mobile home. Anything older than 20 years can be very difficult to insure as it would be considered high risk by underwriters.
- Where are you going to situate your new purchase? Are you going to leave it on the current site? If this is your plan, make sure to check how close the site is to the nearest water source. If you are going to a serviced site that is located near the sea, it can be sometimes difficult to get flood cover for your mobile home. Many owners are confused if they should take a home insurance policy for their mobile home or a standalone mobile home policy. Though you can take out home insurance policy, a standalone policy always give better value along with different types of coverage that you need to check beforehand.
- If you need to transport a pre-owned home to a new site, this would not be covered under your mobile home insurance. If you are hiring a professional to move it for you, they may be able to assist in providing cover for any potential repairs due to damage in transit.
- If you are purchasing a pre-owned home, make sure you ascertain the correct value of the property. The value of the mobile home will be reflected in the cost of insuring the property. While a lower value could lead to a lower cost of the policy, in the event of a claim if you do not have the correct value stated you may not receive the full value of the claim.
If you are purchasing a brand-new home, the company you are purchasing from will typically arrange delivery and you should only accept ownership once delivered on site and you have inspected for any damage during transit. It’s important to note that your insurance cover will only start from when the mobile home is located on the site and any damage caused in transit will not be covered under your policy.
Before you decide to purchase a new/used mobile home, make sure you first get insurance quotes on both options. The age and value of a mobile home are two significant rating factors when calculating the cost of your insurance. A brand-new mobile home is less likely to experience certain types of claims than an older mobile home and can lead to a reduction in your premium in certain circumstances. But to counter this, if you purchase a top of the range large mobile home the increased value can lead to the cost of your insurance rising. By getting quotes before you purchase, you won’t be hit with any surprises!
If you would like more information, call us on 01 582 7108 and speak to one of our home insurance agents today.