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Physical damage insurance If you’re like most people, you want the feeling of security and peace of mind you get from having your investments protected from destructive elements like fires and tornadoes. Insurance helps you attain the feeling of security we all want.
Every insurance company offers something just a little different Physical damage coverage protection levels can vary from insurance program to insurance program. What’s standard in one policy may be optional in another – and cost an additional charge. For example, some companies provide coverage for your unattached structures in their standard policy. This coverage is designed to protect structures like garages, sheds, and fences -- things that aren’t attached to your mobile home. Other companies offer this as optional coverage. So it’s important to read the policy to see if it provides the protection you need. At Foremost, our goal is to provide AARP members with a policy that includes the coverages most mobile home owners want. We provide you with coverage for unattached structures and for your personal belongings as well as providing insurance for your home. Comprehensive vs. Named Peril Coverage There’s also an important distinction between "comprehensive" coverage and "named peril" coverage. Comprehensive coverage, sometimes referred to as "all-risk" or "open-peril" coverage, protects you from everything sudden, direct and accidental that’s not specifically excluded in your policy. In other words, unless your policy says in writing that damage caused by a specific peril (cause of loss) is not covered, then you are covered. Foremost’s AARP Mobile Home Insurance Program policies offer comprehensive coverage. Named-peril coverage, on the other hand, lists everything that is covered in the policy. If a peril (cause of loss) is not on the list, you are not covered. For example, if "damage from paints, chemicals, or dyes" is not listed, you don’t have coverage for costs to repair the damage a child can cause by writing on the walls or furniture with lipstick or a pen. Comprehensive coverage is broader coverage If you read through a comprehensive policy and are comfortable with the exclusions, you can rest easy knowing that you’re probably not forgetting an important coverage. That’s the beauty of a comprehensive policy and that’s why Foremost provides our customers with comprehensive coverage. When you buy an insurance policy from a company that offers a named peril policy, you need to be sure that you’re not forgetting about something important... some coverage that, later on, you’re going to wish you did have. To get the coverages you need, make sure you ask the right questions:
When you have the answers to these questions, you'll become a better informed insurance consumer. But before you choose a new company you’ll want to read more. Check out Price vs. Value, Liability Insurance, Choosing the Right Amount of Insurance, Service: a Critical Consideration, and The Company Behind Your Policy to find out more about becoming an informed insurance consumer. If you’re ready to find out what a Foremost policy can provide you, at what cost, click here for an Online Insurance Estimate. |
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To do that, insurance must protect your home and its contents against direct, sudden, and accidental loss from the things you hope will never happen -- like a fire or a tornado. Protecting your possessions is the "job" of physical damage insurance. While coverages can vary in some states, this physical damage insurance protects your home, detached structures and personal belongings from most of the perils (causes of loss) homeowners face: fire, theft, landslides, vandals, etc.