Living arrangements vary considerably across the UK. While most people opt for traditional bricks and mortar houses or a flat, an attractive option for many is to go for alternative accommodation, such as a park home.
As idyllic as a park home can be it’s important to have park home insurance, to protect your property from theft, damage and other risks.
Since 2004, park homes have been increasing in popularity, with a surge of almost three times the number of people searching for park homes in 2019. The right insurance policy will give you the peace of mind you deserve, and allow you to enjoy your lovely home.
Let’s dive into exactly what a park home is and what needs to be considered when looking for the best park home insurance.
What does park home insurance cover?
Park home insurance cover includes policies that cover fires, floods or storm damage. It also covers vandalism, theft or loss, insuring your park home in the event you may lose it, or it gets stolen.
Park home insurance provides similar financial protection to a standard home and contents insurance policy. However, park home insurance offers a specialised cover, which caters to the specific construction and legislation of park homes, offering you peace of mind.
What is a park home?
Typically, a park home is a detached, single-storey residence located within a protected site that is usually located within a privately owned park.
Park home owners, own the structure of the home itself and not the land. Instead, you rent the ground used for your park home and are responsible for maintaining the land your home resides on.
Why do I need park home insurance?
Despite not being a legal requirement, you may find you need residential park home insurance as some residential parks may ask for proof of insurance before working with you and allowing your property to reside there.
Similar to standard homeowners insurance, having residential park home insurance covers you for any damages that may occur to your park home. This protects park homeowners against any financial hardship and legal expenses that may come with pairing for repairs, rebuilds, and damages as the cost for such damages are much more expensive when coming out of your own pocket.
What cover do I need for my park home?
Residential park home insurance must cover your property itself and the contents inside from any physical damages that could occur from events such as a fire, flood, storm damage, theft or vandalism.
Your park home policy will usually cover the legal expenses of repairs and replacements. Depending on what policy you decide to go for, your insurance may also protect any additional structures on your lot, for example any patios or garages and including any personal belongings, too.
You can also include costs for transporting and re-siting your home when necessary as part of your park home policy, to allow for if you have to make a claim on any wear and tear.
How do I find cheaper park home insurance for me?
Park homes offer you a more relaxed standard of living along with many financial advantages in terms of costs of living.
However, when it comes to dreaded insurance shopping, park home insurance can sometimes be more expensive, and this stems from park homes being less able to withstand incidents like floods and fires.
Additionally, your park home has a higher risk for vandalism and theft, and unfortunately, this increase in the threat of risk does mean insurance rates are a lot higher.
Fortunately, specialist park home brokers are the insurance angels sent to help you shop around and find cheaper insurance. One of the key benefits of working with an insurance broker is their preexisting relationships with providers, as well as expert insider knowledge, they are able to shop through their portfolio of insurers to find, not only the right cover for you and your needs, but also the most affordable.
By working with an insurance broker, you are able to put forward your individual requirements and they set out to find the right insurer to meet it, saving you time, money and the stress of entering the complex and lengthy process of finding insurance.
Insurance brokers’ services don’t just stop at leading you to the right insurer, they also use their expertise to help guide you through the claims process in the event of you having to make a claim.
The best part, insurance brokers don’t charge you for their services, as they are paid through a commission offered by the insurer you go and stay with – which makes it an important priority to find you the right insurer you are happy to go for!
What’s the difference between a park home and a bungalow?
Although park homes are structurally similar to bungalows, a park home is not the same as a bungalow. Where a bungalow is a bricks and mortar build, similar to traditional homes and houses, you will find a park home is usually built in two sections and is then transported to the site.
However, just like most other homes, your property is connected to drainage, you can add a garage and if you have a green thumb, you can also create a garden, and invest in garden furniture. Most park homes include many modern features, coming ready-furnished to a high standard, so you can enjoy the freedom of living on the the cusp of fresh air every day in a light, airy and modern setting. Your park home typically has a spacious living room, up to four bedrooms, a modern kitchen and also includes plenty of space for a study.
What’s the difference between a park home and a caravan?
You have park homes that are residential. You have caravans (towed) and you have statics and leisure homes. Leisure homes or lodges (basically larger statics) can be just as large as a park home. The difference is residential versus holiday homes. Most static caravan sites will shut down for two months of the year. However, you do get parks that have a mix of park homes and statics. This is quite common.
Additionally, where you can innovate and style your residential park home to your own unique taste and make the living experience bespoke, caravans generally draw their design from a set list of features available. Where you have the freedom to decorate and redecorate your park home, static caravans do have more limitations.
Can I live in a park home permanently?
Contrary to popular belief, a park home lasts just as long as traditional homes with a typical lifespan of 80 years. However, if you take good care of your park home, it can last a lot longer.
Additionally, if you consider yourself to be somewhat of a rolling stone and enjoy a change of scenery every so often, then a park home is ideal as you can simply transport it to a new site when your rented lease or agreement comes to an end.
Although your site owner may include a limit to how long you are permitted to stay there in your park home, the freedom of picking up and moving to another residential site means you can stay your property as permanently as you’d like, despite the location changing.
So there you have it, everything you need to know when looking for park home insurance, and what a park home actually is. Hopefully, this guide helps make your park home journey smoother and easier!