Bet Your Life: The Basics Of Life Insurance

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Bet Your Life: The Basics Of Life Insurance

When I applied for my first life insurance policy, all of the talk about benefit amounts, revenue generation, investments, and beneficiaries had me somewhat confused. I remember wishing that I had known more about what it all meant before I applied. Once I found the policy I wanted, I decided to create a website that helped other people understand the fundamentals of life insurance and what all of those legal terms mean. I hope that this information helps you to choose the policy that's right for you with a clear understanding of the information you need to provide as part of the process.

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When Your Home Is On Wheels: How Auto Insurance Only Covers So Much

Mobile homes, whether they are mobile or stationary, need coverage just like any other dwelling. If you financed your mobile home, your bank undoubtedly requires you to carry insurance since it protects both you and the bank against financial loss. When you frequently pick your home up and move all over the place, as is common with some careers that require regular relocation, it may be confusing as to what type of insurance you need--auto or home. Here is how insurance agents can help you differentiate and sign up for the correct policy.

Auto Insurance Covers Your Truck

Regardless of the fact that your home does not sit in one place for more than a year before your job uproots you, auto insurance only covers your auto. It does not cover your mobile or manufactured home. Just as RV insurance only covers an RV and not the truck that pulls it, so auto insurance only covers your truck, and not the mobile home it pulls. Even if you lived in an RV/mobile coach home, it still counts as an RV, and is not covered under auto insurance. Only trucks, cars, SUVs, and CUVs are covered under auto insurance.

Home Insurance Covers Your Mobile Home

Believe it or not, home insurance is what you need to cover your mobile home. When HUD changed the definition of "mobile home" to "manufactured home" in the seventies, all mobile homes after that are considered equal to site-built homes with regards to insurance coverage. Because your home can move to wherever your job takes you, it is at greater risk of damage and loss, which makes your homeowner's premiums significantly higher. You can decrease the cost by putting down roots and staying in one place, and by purchasing auto insurance with your homeowner's insurance.

Car Accidents with a Mobile Home in Tow Do Not Change the Rules

If you should get into an accident on the road while your mobile home is pulled to another destination, and your home is damaged, the rules do not change. Your auto insurance covers your truck, and your home insurance covers your mobile home. The only thing that is different in this case is that you can request payments from the other driver's insurance to help cover damages. You can also sue the other driver and his or her insurance company, especially if your home is badly damaged and it leaves you homeless until you can find another dwelling. For more information, talk to companies like Senella Insurance Group.


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