There are around two thousand dedicated park home sites in the UK and most of these will require that you have dedicated park home insurance cover in place. In the same way that you would shop around for your home insurance, it is vital that you consider all the park home insurance options in the marketplace to ensure you obtain the cover you need at the most competitive premium.
Whether you are using your park home as a main residence or as a holiday home it is vital that you have the right level of cover. One main factor that will affect the cost of your insurance is whether you have a ‘basic’ or ‘comprehensive’ policy on your park home. Basic cover will protect your park home against fire, smoke, vandalism or flood whereas more comprehensive cover will also include accidental damage to buildings and contents. This might be particularly important to you if it is your intention to rent out your park home for certain parts of the year.
The cost of your policy is also likely to be affected by whether your insurer offers ‘new for old’ cover. By including this protection it means that any damaged belongings will be replaced with brand new items.
You should also decide whether you wish to include ‘public liability’ insurance on your policy. Public liability insurance for park homes covers any accidental injury or damage to a third party or their property caused by you or your park home. This could occur, for example, as a result of a third party within your park home receiving bodily injury as a result of a falling tile. Including public liability insurance within your policy means that you would be covered for any medical expenses, legal costs and penalties that could occur from such an event.
As with your main home you can also reduce your park home insurance premiums by improving the security on your home. By adding window locks, deadbolts and even an alarm you will not only provide additional security for your park home but also benefit from lower insurance premiums.
You should also consider whether your policy incorporates just the interior of your park home or whether it covers you for items you may store in any porch, garage or shed.
Another factor that may affect your policy is whether you wish to include ‘alternative accommodation’ cover. This would ensure that you could be houses in a hotel or similar in the event that your park home was rendered uninhabitable due to fire, flood or other damage.
Park homes are an important asset and investment and so it is crucial that they are adequately protected. There are many factors that will affect the cost of your park home insurance and you should ensure you select the most appropriate cover at the most competitive price.