Mobile Home Insurance & What Does It Cover?

How To Get A Low-Cost Mobile Home Insurance Quote

It might be difficult to get mobile home insurance rates because many well-known insurance firms do not give quotations online. State Farm and Allstate, two of the nation's major homes insurance providers, for example, require homeowners to interact with a salesperson in order to obtain a mobile home insurance quotation.

The cost of mobile home insurance is heavily influenced by the insured house's location, age, and coverage restrictions. However, comparing rates is the best approach to discover low-cost mobile home insurance. If you can't get mobile home insurance rates online, consider contacting an independent agency in your region. As an example, we've included typical yearly mobile home insurance prices for a Texas property with varied coverage levels below.

Do You Require Insurance For Your Mobile Home?

Although it is not required by law, mortgage firms and mobile home parks may ask for evidence of insurance before dealing with you.

As a result, anyone planning to acquire a mortgage or put their home in a mobile home park should verify the regulations and, at the very least, look into mobile home insurance.

Given that the average cost of a newly constructed house in the United States is $92,600, we recommend buying mobile home insurance to safeguard your property and valuables. While insurance might be expensive, not having coverage puts you at risk of a big financial loss.

What About Insurance For Modular Homes?

While both manufactured and modular homes are created in factories, they share virtually little else. Mobile house insurance and modular home insurance plans cover two distinct types of dwellings, so if you have one, you don't need the other.

Below is a summary of the common elements of the two types of homes to help you decide if you'll need manufactured home insurance or modular home insurance.

If you're still not sure what kind of home you have, look for a certification sticker, often known as a Housing and Urban Development (HUD) tag. The HUD tag is a small metal plate that is attached to the outside of a prefabricated home. Alternatively, you might call your possible insurance company and ask them to help you determine the type of home you have.

What Is Covered By Mobile Home Insurance?

Mobile home insurance provides all of the coverage provided by a standard homeowners insurance policy, including coverage for your house and possessions.

The coverage for a mobile home is quite comparable to that of a conventional homeowners insurance policy. Manufactured home insurance covers the policyholder's house and goods, as well as liability protection.

Policyholders can personalize their coverage with endorsements, which augment a regular policy, from mobile home insurance carriers. Endorsements give coverage that isn't included in a normal homeowners insurance policy, such as debris clean-up and sewage water damage.

Manufactured dwellings are vulnerable to fire damage. Check to see if your coverage covers this hazard. Policyholders can also choose their own coverage limitations. The following are the primary coverages provided by mobile home homeowners insurance.

Dwelling coverage: This coverage pays to rebuild or restore your home's physical structure if it is harmed by a covered risk. For example, if a fire forces a wall in your mobile home to collapse, the damage would be covered under dwelling coverage. Other buildings covered under dwelling coverage include your roof and a connected deck to your mobile home.

Personal property: Mobile home insurance protects your personal items in the event that they are destroyed or stolen. For example, if a criminal enters your mobile home and takes your laptop, you would be protected. Keep in mind that filing a claim will require you to pay a deductible.

Liability insurance protects you if someone gets hurt on your premises. For example, if a falling tree branch on your property hits a neighbor, you might be held accountable. If you have this coverage, your insurance company will pay for legal expenses as well as damages if you are found to be culpable. Your insurance provider would only provide financial protection up to the amount of your policy.

Other structures: Many mobile home insurance plans cover permanent structures that are not permanently linked to your house, such as a garage or a tool shed.

Additional living expense: If you are unable to reside in your home due to a covered loss, this policy compensates you for additional living expenses while you are living elsewhere. For example, if your mobile home burns down, your insurance provider will pay for the cost of a hotel room up to your policy level.

Older Mobile Home Insurance, Unfortunately, securing insurance for older mobile homes may be difficult and expensive because they were built before 1976 with uncontrolled building requirements. In 1976, HUD created the Manufactured Home Construction and Safety Standards (MHCSS). Houses constructed after June 15, 1976, are referred to as manufactured homes, whereas those constructed prior to that date are referred to as mobile homes.

Nonetheless, homeowners seeking insurance for older mobile homes should speak with an independent agency. While it is tough to obtain rates for new mobile homes online, it becomes harder for older mobile homes. An independent agent will most likely be able to obtain a quotation from a mobile home insurance provider in your region. It is possible that you may have to get coverage from a localized insurance provider rather than a national one.

Companies That Provide The Best Mobile Home Insurance

There are a few top-rated mobile home insurance providers that stand out owing to their extensive coverage options. The following are the top mobile home insurance companies:

Assurant Mobile Home Insurance: Assurant is a top-rated mobile home insurance company since it provides policyholders with a one-stop-shop. Assurant offers customers coverage for risks not often covered by conventional mobile home insurance policies, such as floods and earthquakes.

While these coverages may be added by other mobile home insurance providers, Assurant mobile home insurance includes them as standard, which is both rare and valuable.

Foremost Mobile Home Insurance: Foremost has been insuring mobile homes for over 65 years. However, it is the variety of its offerings that distinguishes it as one of the finest mobile home insurance providers. Policyholders can purchase a basic mobile home insurance coverage, but they can also add a plethora of endorsements.

Optional replacement cost is one of its strongest praises. The endorsement allows policyholders to replace damaged objects with new ones without taking a depreciation deduction, up to a maximum of 20% of the amount of insurance on the house. While this is a common feature of a conventional homeowner’s policy, it is uncommon with mobile home insurance.

Commonly Asked Questions

Is prefabricated house insurance the same as mobile home insurance?

Manufactured house insurance and mobile home insurance are the same things. The distinction between the two is that prefabricated houses were built after June 15, 1976, when the Department of Housing and Urban Development (HUD) adopted more stringent rules. It may be more difficult to obtain insurance for mobile homes constructed before 1976, therefore you may need to seek out a more specialist insurer.

Is it necessary to get mobile home insurance?

Insurance for mobile homes is not required by law. If you have a mortgage or reside in a mobile home park, you may be compelled to buy insurance.

Is it possible to acquire a mobile home insurance quotation online?

A mobile home insurance quotation may be obtained online, but not from every carrier. Quotes are available online from Assurant, which sells policies via Geico and Progressive. State Farm and Allstate, for example, demand you phone for a quotation.

What is the distinction between modular and mobile housing?

Modular houses are built in several components and seem more like traditional residences. Mobile or prefabricated homes are often built in one piece on a metal frame. Modular house owners should obtain normal home insurance coverage rather than mobile home plans.

Methodology

For a mobile home in Texas, we obtained example quotations from Assurant via Geico. Your rates will almost certainly differ. The following are the coverage limitations used for quotes: