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Due to the unique structure and vulnerability to certain weather conditions, such as storms and manufactured and mobile homes, traditional homeowner insurance is generally not available. Instead, you should look into manufactured or mobile home insurance.
Homeowners Insurance For Mobile Homes
Mobile, manufactured and modular homes have one thing in common. It is built in a factory, not a construction site. However, there are also some important differences.
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For example, modular homes are built on foundations similar to traditional homes, as opposed to mobile and prefabricated homes, which are based on a movable chassis. Additionally, modular homes are subject to the same state and local building codes as traditional homes, while mobile and prefabricated homes must meet federal building standards.
Insurance policies may also differ. Some companies use standard homeowner policies for modular homes rather than prefabricated home insurance.
On the other hand, although the terms are often used interchangeably, according to the U.S. Department of Housing and Urban Development, “mobile” and “manufactured” housing have specific meanings. Mobile homes were built before 1976, at which time new federal laws called for stricter safety standards for their construction. From that point on, these buildings were known as prefabricated houses.
Home insurance pays for the repair or replacement of your mobile home structure if the mobile home is damaged as a result of an event covered by your policy, up to the limits you choose. (A deductible may apply.) Prefabricated home insurance generally covers:
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When choosing a limit for this part of the policy, you want an amount high enough to replace the mobile home if it is damaged. Consider purchasing an extended replacement warranty to provide a buffer in case rebuild costs are higher than expected.
Other Structure Coverage will pay for repairs to fences, sheds, or other structures that are not attached to your home due to an event covered by your policy.
Personal property insurance pays for the repair or replacement of furniture, electronics, and other belongings if they are damaged or stolen.
Standard mobile home policies generally apply to your item on a “actual cash value” basis. In other words, you pay the estimated value of the belongings at the time of the claim minus the deductible. You can upgrade to replacement cost coverage to get enough money to buy a new item.
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Inventorying your home is the best way to determine what your property is worth and how much personal property protection you need. You can use the calculator below to get a quick quote.
Personal liability insurance pays if a visitor sues you for being hurt or if you inadvertently cause property damage or injury to others. It may also cover related legal costs.
Not sure how much liability insurance you need? Consider getting at least enough to cover your net worth.
Flood. Prefabricated home insurance generally does not cover flood damage. If you live in a hazardous area, we recommend that you purchase separate flood insurance.
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Earthquake. Similarly, if your home is in an area with high seismic activity, you may need separate earthquake coverage. Home insurance policies usually don’t cover “moving land.”
Damage related to the use of the home for business purposes. A commercial policy may be required for this guarantee.
According to American Modern Insurance Group, the average cost of mobile home insurance typically ranges from $700 to $1,500 per year. Among other things, another manufactured home insurance company estimates the average cost to be around $1,025 per year.
Many companies offer discounts on mobile home insurance. For example, you can get a bundle discount on the purchase of mobile home insurance along with other policies such 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 affiliates: An independent representative can help you find other options in your area.
Allstate offers standard coverage for prefab homes and belongings, along with multiple ways to customize your policy. Additional coverage is available for valuables, sports equipment or trees and shrubs, for example. If you are the original owner of the home, you can save up to 5% on your annual insurance premium. Retirees age 55 and older can get up to 10% discount.
When you add “deductible reduction” coverage to your American Family mobile home policy, your selected deductible is immediately reduced by $100. If you don’t bill it, it continues to drop by an additional $100 per year up to a maximum of $500. Other add-ons pay for hidden leaks or damage from collisions while the prefab is in transit.
American Modern has been focused on mobile homes since its founding in 1949. The company offers optional reimbursement for costs resulting from failure of your HVAC system, major appliances, or electronics. You can also purchase identity theft insurance or travel collision insurance.
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Options to customize Farmers manufactured home policies include earthquake or flood coverage. The company offers a bundle discount if you combine your mobile home insurance with other Farmers policies such as auto, life or umbrella insurance.
Foremost, now a subsidiary of Farmers, was originally created for mobile home insurance. We offer coverage options such as identity fraud management, in-moving travel coverage, earthquake coverage, and valuables insurance. If you are an AARP member looking for mobile home insurance, Foremost is a third party company that offers it through your membership.
Geico does not issue mobile or manufactured housing policies on its own, but instead works with third parties such as Assurant, Foremost, and American Modern. If you need to file a claim or change your coverage, you must work directly with the partner, not Geico. Additional coverage for jewelry, sports equipment or musical instruments can be added to standard insurance.
Like Geico, Progressive works with third parties to offer mobile home insurance in most states. This means that you may need to contact third parties to change their policy or file a claim. Replacement Cost Coverage is an optional add-on that ensures you can purchase a new mobile home if your mobile home is damaged. Travel collision compensation can also be added to pay for damage while moving.
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State Farm offers several ways to save on prefabricated home insurance, including discounts on protection devices such as burglar and fire alarms. Savings may also depend on the length of time you have State Farm insurance or the age of your prefabricated home. Additional options include identity theft protection and replacement cost coverage for your home and belongings, so you can get new ones if your home and belongings are damaged.
USAA, serving primarily active duty military, veterans and their families, has partnered with Foremost to provide insurance for mobile, manufactured and small homes. Owners of modular homes must apply for standard USAA homeowner policies.
Different mobile home insurance companies have different rates, so compare multiple quotes to get the most competitive price.
If you take out a mortgage to purchase a prefabricated home, your lender will usually require insurance. No loans? If you cannot afford to replace your home and belongings yourself after a major disaster, you may need mobile home insurance.
Are Mobile Homes Covered By Homeowners Insurance?
Yes you can. Your mortgage lender may also require it if you live in an area with high flood risk. Most people get flood insurance through the federally funded National Flood Insurance Program.
Yes. You do not have to own the prefabricated home you live in to be insured. Renter’s insurance does not cover the structure of the home. The landlord’s insurance covers this. However, compensation will be provided if belongings are stolen or damaged due to a disaster.
Buying a prefabricated home usually requires insurance from the lender. No loans? If you cannot afford to replace your home and belongings yourself after a major disaster, you may need mobile home insurance.
Yes you can. Your mortgage lender may also require it if you live in an area with high flood risk. Most people buy flood insurance from federal funds.
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The structure of the house is not included. The landlord’s insurance covers this. However, compensation will be provided if belongings are stolen or damaged due to a disaster.
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