Home Insurance Companies For Manufactured Homes

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Because of their unique structure and vulnerability to certain weather conditions, such as hurricanes, manufactured and mobile homes typically do not qualify for traditional homeowners insurance. Instead, you should look into manufactured home or mobile home insurance.

Home Insurance Companies For Manufactured Homes

Home Insurance Companies For Manufactured Homes

Mobile, manufactured and modular homes have one thing in common. they are built in factories, not construction sites. However, they also have some key differences.

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For example, modular homes are placed on foundations similar to traditional homes, unlike mobile and manufactured homes, which both sit on a mobile chassis. Additionally, modular homes are subject to the same state and local building codes as traditional homes, while mobile and manufactured homes must meet federal building standards.

Home Insurance Companies For Manufactured Homes

Insurance policies may also vary. Some companies use standard homeowners policies for modular homes rather than home insurance.

Meanwhile, while the terms are often used interchangeably, “mobile” and “manufactured” homes have distinct meanings, according to the U.S. Department of Housing and Urban Development. Mobile homes were built until 1976, when a new federal law required stricter safety standards for their construction. Since then, these buildings have been known as manufacturing houses.

Home Insurance Companies For Manufactured Homes

Homeowners Insurance Guide: A Beginner’s Overview

Dwelling coverage pays to repair or replace the structure of your mobile home if it is damaged by events covered by your policy, up to limits you choose. (Adjustables may apply.) A manufactured home policy typically covers events such as:

When choosing a limit for this part of your policy, you want to have enough coverage to replace your mobile home if it is damaged. Consider purchasing extended replacement coverage, which gives you a cushion if the repair costs more than you expected.

Home Insurance Companies For Manufactured Homes

Other structures coverage pays for repairs to a fence, shed or other structure not attached to your home if it is damaged in an event covered by your policy.

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Personal property insurance pays to repair or replace furniture, electronics, and other items if they are damaged or stolen.

Home Insurance Companies For Manufactured Homes

A standard mobile home policy usually covers your property on a “cash value” basis. This means it will pay the appraised value of your property at the time of claim, minus your deductible. To get enough to buy a new product, you can switch to replacement cost coverage.

A home inventory is the best way to determine the value of your property and how much personal property coverage you need. You can get a quick estimate using the calculator below.

Home Insurance Companies For Manufactured Homes

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Personal liability insurance pays if a guest is injured and sues you, or if you accidentally cause property damage or injury to others. It can also cover legal costs.

Not sure how much liability insurance you need? Think about earning enough to at least cover your net worth.

Home Insurance Companies For Manufactured Homes

Flood. Manufactured home insurance typically does not pay for flood damage. If you live in a high-risk area, it’s a good idea to purchase separate flood insurance.

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Earthquakes. Likewise, if your home is located in a seismically active area, you may need separate earthquake coverage. Home insurance policies generally do not cover “soil movement”.

Home Insurance Companies For Manufactured Homes

Damages related to using your home for business purposes. You may need a commercial policy for this cover.

According to the American Insurance Group, the average cost of mobile home insurance is typically between $700 and $1,500 per year. First, another manufactured home insurance has an average annual cost of about $1,025.

Home Insurance Companies For Manufactured Homes

What Are The Types Of Homeowners Insurance?

Many companies offer discounts on mobile home insurance. For example, you may be able to get a discount for purchasing mobile home insurance along with another policy, such as auto insurance.

Not all insurers offer mobile home insurance, but the following providers do, either directly or through a third-party partner. An independent agent can help you find other options in your area.

Home Insurance Companies For Manufactured Homes

Allstate offers standard coverage for your home and manufactured goods, and many ways to customize your policy. For example, there is additional cover for valuables, sports equipment or trees and shrubs. If you are the original owner of your home, you can save up to 5% on your annual premium. People over 55 and pensioners can get up to 10% discount.

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Add deductible coverage to your American Family Mobile Home policy and your deductible will immediately drop by $100. Every year you don’t make a claim, it drops another $100, down to $500. Other excesses pay for home system failure or hidden water leak damage.

Home Insurance Companies For Manufactured Homes

American Modern has focused on mobile homes since its founding in 1949. The company offers coverage for expenses due to damage to the HVAC system, appliances or electronics. You can also get identity theft insurance or earthquake coverage.

Customization options for a farmer’s home policy include earthquake or flood coverage. The company offers a bundle discount if you combine your mobile home policy with other Farmers policies such as car, life or umbrella insurance.

Home Insurance Companies For Manufactured Homes

Home Insurance Coverage & Policies

Now a subsidiary of Farmers, Foremost was originally founded to insure mobile homes. It offers coverage options such as identity fraud management, travel coverage when moving your home, earthquake coverage and valuables insurance. If you’re an AARP member looking for mobile home insurance, Foremost is a third-party company that provides it through your membership.

Geico does not publish its own mobile or manufactured home policies, instead working with third parties such as Assurant, Foremost and American Modern. If you need to file a claim or change your coverage, you should work directly with the partner, not Geico. You can add additional coverage to your standard policy for jewelry, sports equipment, or musical instruments.

Like Geico, Progressive works with third parties to offer mobile home insurance in many states. This means you may need to contact a third party to change your policy or file a claim. Replacement cost coverage is an optional extra that allows you to purchase a new mobile home if your home is damaged. You can also add travel collision coverage to pay for damages while on the move.

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State Farm offers several ways to save on your home insurance, including discounts on security devices like burglar alarms and smoke alarms. You may also save depending on how long you’ve been insured with State Farm or the age of your manufactured home. Additional options include identity theft coverage and replacement costs for your home and belongings so you can get new items if you lose them.

Home Insurance Companies For Manufactured Homes

USAA, which primarily serves active duty military, veterans and their families, is Foremost’s partner for mobile, manufactured and tiny home coverage. People who own modular homes should apply for a standard USAA homeowners policy.

Don’t just pick the cheapest home policy and call it a day. Here are a few things to consider when comparing quotes from different insurers.

Home Insurance Companies For Manufactured Homes

What Are Manufactured Homes?

Since rates vary between mobile home insurance companies, be sure to compare multiple quotes to get the most competitive rate.

Start by looking at the coverage limits for each quote. Does the cheapest option also offer the minimum coverage? It can leave you with little insurance against an accident. Does one company offer real cash coverage while another company pays enough to replace your home and belongings with new options? The latter may offer greater value, even if it costs a bit more.

Home Insurance Companies For Manufactured Homes

You can also check what types of optional covers are available. For example, if you’re hoping to add equipment breakdown insurance and a company doesn’t offer it, you can keep looking.

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The deductible is the claim amount you must pay. The higher the deductible, the more your policy costs, but the more you have to do in an emergency. Avoid choosing a plan that you will have trouble paying.

Home Insurance Companies For Manufactured Homes

Depending on where you live, you may have different deductions for different types of claims. For example, in states that are prone to hurricanes, you may have a separate wind or hurricane claim that costs more than you would pay for other types of claims. Make sure you agree with these amounts.

You don’t want to wait until disaster strikes to find out that your insurance company has poor customer service or can’t pay your claims. Read reviews of each insurer you’re considering to find out how long they’ve been there and how well they treat their customers. Home insurance reviews can be found here.

Home Insurance Companies For Manufactured Homes

Mobile Home Insurance In Florida

If you’re getting a mortgage to buy a manufactured home, your lender usually requires insurance. Don’t have credit? You still want mobile home insurance if you can’t afford to replace your home and possessions after a major disaster.

Yes, you can, and may even be required by your mortgage lender if you live in a high flood risk area. Most people get flood insurance through the federally funded National Flood Insurance Program.

Home Insurance Companies For Manufactured Homes

Pros And Cons Of Buying A Modular Home

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