Disclaimer: Data Accuracy and Sources
The data in the Covertree Resources section is from publicly available sources last updated in December 2022. We provide source links for verification. However, we can’t guarantee accuracy. Rely on this data at your own discretion. For specific advice, consult professionals.
Whether you’re drawn by the allure of its history, the beauty of its natural landscapes, or the warmth of its people, El Paso stands as a testament to unity, diversity, and the enduring spirit of the Southwest.
Mobile home insurance is essential for safeguarding your most valuable asset. Prices in Texas typically range from $250 to $1,300 annually, influenced by various factors. Deciding between actual cash value and replacement cost coverage will also impact both premiums and compensation amounts in case of a claim.
* e.g. A five-year-old home bought for $50,000 but now worth $35,000 will be compensated at $35,000.
** Typically has higher premiums but offers more compensation during a claim.
Remember, while insurance might seem optional, it provides invaluable peace of mind against potential financial setbacks.
The apt insurance policy largely hinges on your home type, repair or rebuilding costs, and the worth of your belongings. It’s often a smart move to opt for the most robust protection within your budget. This is especially true if you haven’t set aside a significant emergency fund. Though a comprehensive policy with a lower deductible might require higher premiums, it ensures quick recovery after a substantial loss.
As your savings grow, you might consider increasing your deductible to decrease your premium. But here’s a pro tip: sometimes, a $1,000 deductible isn’t much pricier than a $5,000 one. In such instances, the minimal extra expense can prove invaluable in the event of a large claim.
Type of Homes: Mobile or manufactured homes (trailers, single/double-wide mobile homes, RVs, modular homes, etc.).
Personal property damage that doesn't fit the named perils. Exclusions include:
The HO-3 policy is the predominant homeowners insurance in Texas. It offers open-peril coverage for homes and related structures, covering all damages unless specifically excluded. Exclusions typically include:
Even if you’ve chosen the HO-7 or another base form for your policy, you might still want to contemplate additional coverage for specific scenarios. Here are some prevalent options:
Incidents: Over the past 20 years, El Paso County has declared 15 disasters, with many attributed to Hurricane incidents. Despite its location inland, El Paso is susceptible to the ripple effects of hurricanes, including heavy rain and resultant flooding.
Impacts on Mobile Homes: Flooding is a primary concern. Floods can lead to water damage, soil erosion, and, in extreme cases, might even shift or float mobile homes off their foundation. Additionally, thunderstorm winds can inflict damage on the exterior of mobile homes, necessitating repairs or replacements.
Insurance Needs: Mobile home owners should strongly consider flood insurance, even if they are not located in a designated flood zone. Given the susceptibility to thunderstorm winds, a comprehensive mobile home insurance that covers wind damage is also recommended.
Heat Waves & Cold: The average summer temperature in El Paso is expected to rise by 2 Fahrenheit degrees by 2100. This, combined with heat waves, can strain cooling systems in mobile homes. Conversely, winter storms can bring freezing rain, snow, and sleet, presenting a risk of hypothermia and frostbite.
Drought: El Paso can experience periods of reduced rainfall, which can lead to drought conditions.
Impacts on Mobile Homes: Extreme heat can result in warped or melted sidings and can strain HVAC systems. Drought can impact the stability of the ground on which a mobile home sits.
Insurance Needs: Coverage that includes damage due to temperature extremes, such as HVAC system repairs or siding replacements, would be beneficial. Drought insurance, though less common, may also be worth considering given the shifting weather patterns.
Earthquake Risk: El Paso has an average earthquake risk score of 35%. The earthquake index for El Paso stands at 1.01, which is considerably higher than the Texas average of 0.04 but lower than the U.S. average of 1.81.
Impacts on Mobile Homes: Earthquakes can cause mobile homes to shift off their foundation, resulting in structural damage or complete destruction.
Insurance Needs: Traditional mobile home insurance policies might not cover earthquake damage. Therefore, considering the moderate risk, it's wise for mobile home owners in El Paso to explore additional earthquake insurance.
What it is: Coverage that addresses the depreciation and regular damage that homes naturally undergo over time.
Why it's needed: While typical policies don't cover simple wear and tear, certain riders might offer coverage for accelerated or unusual wear that's unexpected.
What it is: Protects against damage to underground utility lines or service lines, like water and sewage.
Why it's needed: Repairs to service lines can be expensive, and they're not always covered by local utilities or standard policies.
What it is: Covers costs related to mold removal and repair.
Why it's needed: Mold can lead to health problems and structural damage. Mobile homes, especially in humid areas, may be vulnerable.
What it is: Offers protection against damages from seismic activities such as earthquakes and tremors.
Why it's needed: Standard policies usually exclude earthquake damage. It's vital in earthquake-prone regions.
What it is: Extends coverage to business property stored or used in the home.
Why it's needed: For those who run a home-based business or store business items at home, it ensures they're financially protected.
What it is: Compensates the homeowner for the full, current cost of replacing damaged property without factoring in depreciation.
Why it's needed: Ensures that in the event of a loss, the homeowner can replace items without incurring out-of-pocket expenses due to depreciation.
Texas residents who are struggling with home-related expenses have two vital assistance programs available: the Texas Homeowner Assistance Program due to the COVID-19 pandemic and the Homeowner Assistance Program (HAP) following Hurricane Harvey.
Purpose: Support homeowners impacted by Hurricane Harvey to repair, rebuild, and enhance their homes.
Services Offered: Financial support for affected homeowners.
Purpose: Support homeowners impacted by Hurricane Harvey to repair, rebuild, and enhance their homes.
Residents are encouraged to assess their eligibility and take advantage of these programs to secure and improve their homes.
The Texas Coastal Insurance Pool (TCIP), formerly known as the Texas Windstorm Insurance Association (TWIA), is a vital insurance entity designed to protect homeowners in the Texas coastal regions. Established in the face of limited private insurance options, the TCIP provides wind and hail coverage to properties located in certain parts of Texas’s seacoast territory.
Inland of the Intracoastal Canal $2.50 per $100 coverage 42 Effective October 1, 2008 Seaward of the Intracoastal Canal $5.00 per $100 coverage
A mobile home located in a designated catastrophe area that meets the following criteria is eligible to be insured under the T.W.I.A. Dwelling Policy with Form No. TWIA-411, Conversion to TWIA Manufactured Home Policy attached to the policy.
The maximum limit of liability for a mobile home, including any site-built additions attached to the home, and household goods is $84,000.
The following policy form is to be used: T.W.I.A. Dwelling Policy with Form No. TWIA-411, Conversion to TWIA Manufactured Home Policy attached to the policy
Adding policy options to a basic insurance plan is a common practice in the mobile home insurance industry. While the events covered in mobile home policies are similar across all states, additional coverage options, known as add-ons, endorsements, and riders, may vary depending on your location and insurance provider. Each of these options comes at an additional cost that can be customized according to your needs.
Adding any rider will increase your premiums, influenced by location, risk profile, chosen coverage, and deductible. Riders can be added during initial policy purchase, at renewal, or anytime during the policy period. Some carriers might not offer all endorsements, so shopping around might be necessary.
