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Because of their unique construction and vulnerability to certain weather conditions, such as wind and hurricanes, manufactured and mobile homes are not eligible for traditional homeowners insurance. Instead, you should consider manufactured or mobile home insurance.
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Mobile, prefabricated and modular homes have one thing in common: they are built in factories, not on construction sites. However, they also have fundamental differences.
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For example, modular homes sit on a foundation like traditional homes, unlike mobile and manufactured homes, both of which are 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.
Insurance policies may also vary. Some companies use standard homeowners policies instead of manufactured home insurance for modular homes.
Meanwhile, although the terms are often used interchangeably, “mobile” and “manufactured” homes have different meanings, according to the U.S. Department of Housing and Urban Development. Mobile homes were built before 1976, when a new federal law mandated safety standards for their construction. Since then, these structures are called manufactured homes.
Home coverage pays for the repair or replacement of the structure of your mobile home if it is damaged due to events covered by your policy, up to a limit you choose. (Can be excluded.) A manufactured home policy usually covers the following events:
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When choosing a limit for this part of your policy, you want to have enough money to replace your mobile home if it is destroyed. Consider purchasing extended coverage, which will give you a lump sum if you end up saving more than you expected.
Other structures coverage pays for repairs to a dam, barn or other building if it is damaged by an event covered by your policy.
Personal property replacement pays to repair or replace furniture, electronics, and other items that have been damaged or stolen.
A standard mobile home policy will cover your belongings on an “actual cash value” basis. This means that it will give the estimated amount that your items were valued at the time of the lawsuit, minus the estimated value. You may want to upgrade to cover the cost of purchasing new items.
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Taking a home inventory is the best way to determine the value of your belongings and how much personal property you need. You can get a quick estimate using the calculator below.
Personal liability insurance pays if a visitor annoys you and sues you, or accidentally injures or harms others. It may also cover related legal costs.
Not sure how much liability insurance you need? Get at least enough money to cover your net worth.
Flooding. Manufactured home insurance usually does not include flood coverage. If you live in a high-risk area, it’s a good idea to purchase separate flood insurance.
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Earthquakes. Also, if your home is in a seismically active area, you should be earthquake insulated. Home insurance policies generally do not cover “earthquake”.
Damages related to the use of your home for business purposes. You may need a commercial policy for this coverage.
According to the Modern Insurance Group of America, the average cost of mobile home insurance ranges from $700 to $1 per year. First of all, another manufactured home insurance policy costs an average of $025 per year.
Many companies offer discounts on mobile home insurance. For example, you can get a discount for buying mobile home insurance as well as auto insurance.
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Not all insurers offer mobile home insurance, but the following providers do either directly or through third party companies. An independent agent can help you find other options in your area.
Allstate offers standard coverage for your home and contents, as well as many ways to customize your policy. For example, there is additional coverage for valuables, sports equipment, wood and lumber. If you are the primary owner of your home, you can save up to 5% on your annual premium. Over 55s and pensioners can get up to 10% discount.
Add “premium reduction” coverage to an American Family mobile home policy, and your deductible will immediately drop to $100. That will drop by another $100 each year you don’t claim, up to $500. Other accessories pay for hidden water leaks or collision damage while your manufactured home is in transit.
American Modern has focused on mobile homes since its founding in 1949. The company offers additional coverage for expenses due to failure of the HVAC system, major appliances or electronics. You can also get personal theft insurance or travel collision coverage.
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Options for adjusting home policies produced by farmers include earthquakes or floods. The company offers a discount if you combine your mobile home policy with other Farmer policies such as auto, life or umbrella insurance.
Now a Farmers company, the company was founded primarily to insure mobile homes. It offers options like identity fraud management, travel coverage when moving home, earthquake and property damage insurance. If you are an AARP member looking for mobile home insurance, the most important thing to consider is a third party company that provides it through your membership.
Geico does not issue mobile or manufactured home policies, but instead partners with third-party providers such as Assurant, Foremost and American Modern. If you need to file a claim or change your coverage, you should work directly with your spouse, not Geico. You can add additional coverage to your standard policy for jewelry, sports equipment or musical instruments.
Like Geico, Progressive offers third-party home insurance in most states. This means you need to contact a third party to change your policy or file a claim. Replacement cost coverage is an optional extra that ensures you can purchase a new mobile home if yours is destroyed. You can also get travel collision coverage to cover damage while traveling.
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State Farm offers several ways to save on your manufactured home insurance, including discounts on security devices like burglar and smoke alarms. You can also save based on whether you are insured with State Farm or the age of your manufactured home. Additional options include identity theft and repossession of your belongings so you can get new items.
USAA – primarily serving active duty military, veterans and their families – is partnering with Foremost to provide mobile, portable and portable home coverage. Individuals who own modular homes should refer to USAA’s standard homeowners policy.
Because rates vary among mobile home insurance companies, compare multiples to get the most competitive price.
If you take out a mortgage to buy a manufactured home, your lender usually requires insurance. Don’t have credit? If you are unable to move your home and belongings after a major disaster, you may want mobile home insurance.
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Yes, you can—and even if you live in a high-risk flood zone, your mortgage lender may require it. Most people get flood insurance through the federally funded National Flood Insurance Program.
Yes. You do not need to own a manufactured home to purchase insurance. Renters insurance won’t cover the structure of your home – homeowner’s insurance does. But they will pay if your belongings are stolen or damaged in a disaster.
To buy a manufactured home, the lender usually requires insurance. Don’t have credit? If you are unable to move your home and belongings after a major disaster, you may want mobile home insurance.
Yes, you can—and even if you live in a high-risk flood zone, your mortgage lender may require it. Most people buy flood insurance
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Won’t cover the structure of your home – your homeowner’s insurance covers it. But they will pay if your belongings are stolen or damaged in a disaster.
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Sarah is an authority on homeowners, renters and pet insurance. His work has appeared in many outlets, including the Associated Press, MarketWatch and the Washington Post. Read more
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