Here are a few things worth thinking about if you live in a park home and want to make sure you have the most effective – yet affordable – protection in place :
• your contents values. Unfortunately, no dwelling anywhere is guaranteed to be immune from either natural disasters or the attentions of thieves and vandals. It might, therefore, be worth thinking carefully about the true replacement value of your possessions and making sure that you have appropriate contents cover in place;
• external items cover. The extent to which external items (e.g. awnings) are covered may vary considerably between policies and may need to be looked at carefully – we would be happy to explain this a little further;
• as some park homes may be located in rural areas or close to natural attractions, there may be the temptation to consider letting your home out during the holiday season and earning a little extra money as a result. Remember though that standard park home insurance may not cover the use of your property as a commercial concern (and your site owner may not either). Once again, this may need careful thought before you progress;
• flooding and related risk protection. Some park home locations may be adjacent to water features or set in low-lying areas. This may make them particularly vulnerable to flooding and not all policies may offer sufficient cover for these types of risk. Choosing carefully may be highly advisable;
• price. It would be too obvious to suggest that looking at the price is important. What is sometimes overlooked is that the price may be related to the cover provided and as a result, just focusing on the price alone may be risky. Look carefully at the cover and terms at the same time you are considering the cost-effectiveness or otherwise of the policy;
• mortgage or loans. Remember that if you have purchased your park home with a mortgage, your legal agreement with the lenders may place certain obligations upon you in terms of the insurance that you may need to keep in place at all times. Be sure that the policy you are considering meets those requirements.
A few basic things to consider but they may help you avoid issues in future. If you need any guidance or help, please feel free to get in touch with one of the Team here.