Why is residential park home insurance important?
Insuring a park home is different to insuring a bricks and mortar residence. To protect your treasured getaway, you must ensure you get your insurance coverage right. Park homes need to be insured as a non-standard risk. Therefore if an insurer offers you a much lower premium price than other companies, it is likely that the insurer is not offering you the correct type of policy.
The construction of a park home and the unique set of risks it faces means that you need a specialist policy to offer all the protection you need. Repairing a park home can be expensive. Obtaining insurance that will comprehensively cover the cost of repairs or replacement is essential.
How much insurance cover do I need?
You must take out the right level of park home insurance cover. Often the location of a park home can leave the structure vulnerable to bad coastal storms, while the homes' proximity to one another on the site can mean a fire can cause a total loss. To be completely protected, you must take out sufficient cover for a complete rebuild.
It is your responsibility to ensure your insurer offers sufficient cover for this rebuild. A good insurance company will understand the nature of the materials used in the park home and the associated costs. They will ask you for the make and model of your park home, as this will allow them to calculate your replacement costs accurately.
You will need to check with the site owner whether they insure the base of your park home. Park homes on most serviced sites have a base covered by the owner, which means they will generally cover the costs of base damage or loss relating to subsidence or flood damage.