An introduction to park home insurance

If you have never looked for park home insurance before, you might find the task daunting. However, finding the answers to the questions below will give you a good start.

What does it cover?
Park home insurance is like any other home policy – you may wish to consider finding cover for the costs of damage caused by the basic risks of fire, storm, earthquake, and vandals and malicious persons (although the latter risks may be covered by only a few providers).

The cover will typically apply to the structure of the park home itself, but consider also how far it extends. For example, if you have a patio of decking around your park home, will your insurance cover it?

In addition to the structure of the park home itself, you may want to insure its contents. Different park home providers have a variety of policies on this point, so check the value of the contents that you can cover.

Why do you need it?
If you have taken out a mortgage or a loan to pay for your park home, insurance could be worth a look. After all, your obligation to make the repayments will continue regardless of whether the park home itself is still standing. Your lender may also insist on adequate insurance to ensure that you have the means to finance the repairs or rebuilding if it is damaged or destroyed.

Even if you are not required to take out park home cover by any lender, ask yourself this question: would you be able to afford to pay for repairs or rebuilding to your park home if it is damaged or destroyed by an insured risk?

How much will it cost?
The cost of the policy may depend on a number of things. First, there is the location of the park home. Insurers can judge the risk of vandalism and flooding with reference to the postcode of the site that the home is on. There is nothing that you can do about this, but there are some measures you can take to drive down the cost of a park home insurance policy.

For instance, smoke and burglar alarms may prove to an insurer that you are a careful homeowner who is keen to minimise the risks of fire and burglaries.
Likewise, if you have owned the park home for a while and have a good history of not making claims, ask your provider whether a no claims discount applies.

Where can you get it?
Park home insurance is available from a wide range of sources. Before you sign up for a policy, make sure that you understand how it works, and never be afraid to ask as many questions as you like about it.