Mobile home insurance

It is critical to have the proper insurance if you live in a mobile home. A mobile home insurance policy is required instead of a standard home insurance policy. This will provide tailored coverage for your home, but you will be able to add and adjust coverage as needed, just like any other home insurance policy.

What is mobile home insurance?

Mobile home insurance, also known as manufactured home insurance, is insurance that covers any dwelling that meets the definition of a manufactured home. These homes are always HUD-approved and are typically built on a metal frame and delivered as a finished structure.

For owners of manufactured homes, mobile home insurance is considered the equivalent of homeowner's insurance. According to the Insurance Information Institute, the median price of a manufactured home in 2020 was $86,133, compared to $329,000 for the average single-family home (Triple-I). While manufactured homes are typically much less expensive to purchase, it is still critical to have mobile home insurance coverage to protect your investment and the finances of your family. After all, many people do not have $86,000 in spare cash to replace their home if it is destroyed.

What does mobile home insurance cover?

The following items are covered by mobile home insurance:

  • Dwelling coverage: This insurance covers the house and any other permanent structures on the property. In other words, your dwelling coverage covers any damage done to your home or other structures on your property (such as a deck, garage, or shed) that are listed in your policy.
  • Personal property coverage: This coverage is for your personal belongings. If the items you own are damaged or stolen, your policy covers you.
  • Liability coverage: This coverage is to protect you in the event someone is injured on your property and you are held liable. Legal fees and medical expenses up to your coverage limit may be covered by liability insurance.
  • Loss of Use/Additional Living Expenses (ALE): This coverage applies when damage to your dwelling that requires you to live somewhere else temporarily is covered by your dwelling coverage. ALE may pay for hotel expenses, temporary housing, and restaurant meals.

Some manufactured home owners choose peril policies, which are low-cost but high-risk types of mobile home insurance. Peril policies cover only a limited number of causes of damage, which means you will be responsible for any costs that are not caused by one of the listed perils. Before purchasing one of these policies, make sure you understand the full scope of what is and isn't covered, and that you can afford the full cost of repairs that aren't covered.

What does a mobile home insurance policy not cover?

Exclusions are common in standard mobile home insurance policies. Some of these require add-ons or additional policies for coverage, which may or may not be required depending on where you live:

Mobile home insurance companies

Although there are some similarities between homeowners insurance and mobile home insurance, not all property insurers offer mobile home insurance in all states. Still, if you already have a standard homeowners or auto insurance policy, the best place to start is by contacting your insurer or agent to see if you can bundle policies and save money on your mobile home insurance. To provide more specific coverage, some national insurers, such as USAA and Geico, collaborate with third-party mobile home insurers.

The best mobile home insurance provider for you will be determined by your location and the type of coverage you require. Here are some of the most popular mobile home insurers in the United States:

  • Allstate: Allstate is a national carrier that provides some unique optional coverage features such as water backup and identity theft restoration.
  • American Modern: American Modern provides mobile home insurance for a variety of uses, including rental and seasonal homes.
  • Assurant: For a quick quote, use Assurant's user-friendly quoting tools. Assurant also offers the option of a stated value loss settlement.
  • Farmers: Farmers is a national property insurer that offers coverage for mobile homes. Though you cannot obtain a quote online, which may be inconvenient, Farmers offers a wide range of additional coverage options that many insurers do not.
  • Foremost: A super-regional subsidiary of Farmers, Foremost is known for providing exceptional customer service with few complaints. Quote requests can be made over the phone or through their website, but they are not immediate. Extended replacement cost coverage is one of Foremost's options.
  • HomeFirst: With over 20 years of experience insuring manufactured homes, HomeFirst is an excellent choice for prefabricated homeowners' specialized insurance needs. Flood coverage is included in the policies, which is not always standard. You can request a quote through its website, and an agent will contact you.

You will likely get the best coverage by obtaining quotes from insurers who specialize in writing mobile home policies, similar to how you would shop for home and auto insurance. The Triple-I recommends getting at least three quotes to compare coverages and costs.

How much does mobile home insurance cost?

Because it isn't as common as standard homeowners insurance, many people don't know how much mobile home insurance costs on average.

Because of the higher risks associated with manufactured homes, mobile home insurance policies frequently cost more than standard homeowners insurance policies. While the average cost of mobile home insurance in the United States is not available, shopping around is the best way to estimate how much you'll pay.

The cost of mobile home insurance is determined by a variety of factors. They are as follows:

  • The area you live in
  • Weather hazards such as hurricanes, tornadoes, and flooding
  • Wildfire dangers
  • Your neighborhood's crime rate
  • First responder proximity, such as police and fire departments
  • Your mobile or manufactured home's value, age, and condition
  • Basic coverage limits include dwelling, liability, and contents.
  • Additional coverages such as flood, earthquake and windstorm
  • Deductible amounts

There are a few other ways to save money on your mobile home insurance premium. Typical discounts include:

  • As the original owner of the mobile home
  • Combining your mobile home insurance with other policies from the same insurer, such as auto insurance
  • Setting up a home security system
  • Retirement and/or senior discounts

What is the difference between mobile home insurance and standard home insurance?

Despite their similarities, mobile home insurance differs from standard homeowners insurance coverage due to major structural differences between the dwellings covered.

Because mobile homes are not attached to a foundation, they have a few additional risks. Fires, wind, and broken pipes are all more dangerous to a mobile or manufactured home, and mobile homes are more likely to be stolen. A mobile home, on the other hand, typically has a lower total value than a stick-built home. Because they pose such distinct risks, insurers prefer to classify mobile homes as their own type of policy.