Manufactured & Mobile Home Insurance
Joy Wallet is advertiser-supported: we may earn compensation from the products and offers mentioned in this article. However, any expressed opinions are our own and aren't influenced by compensation. To read our full disclosure, click here.
Homeownership brings its unique set of challenges and opportunities, particularly when it comes to manufactured and mobile homes. These homes offer affordability and flexibility, but they also require specialized insurance to protect against the unique risks they face. Manufactured and Mobile Home Insurance provides this essential protection, ensuring peace of mind for homeowners. This guide dives deep into what mobile home insurance covers, who offers it, and how it can help you secure your investment in a manufactured or mobile home.
In this article
What is manufactured & mobile home insurance?
Manufactured and Mobile Home Insurance is a specific type of homeowners insurance designed for the unique needs of manufactured, mobile, factory-built, and modular homeowners. Unlike standard homeowners insurance, this insurance covers the risks faced by homes built in factories and then transported to a site. This can include coverage for the structure, personal belongings inside the home, liability protection, and potentially additional living expenses if the home is uninhabitable due to covered damage.
Save $1,604 (or more) per year on car insurance today.
- 2-minute quote
- State minimum coverage
- Full coverage
- Explore top brands
Types of insurance coverage for manufactured & mobile homes
When considering insurance for your manufactured or mobile home, understanding the different types of coverage available is crucial to ensure you are adequately protected. Here are some of the key types of insurance coverage that homeowners should consider:
Standard coverage
Standard coverage typically includes protection against common risks such as fire, windstorms, theft, and vandalism. This basic form of insurance is essential for safeguarding the structure of your home and your possessions within it.
Structures coverage
Structures coverage, also known as "dwelling coverage," specifically protects the home's physical structure against damage from covered events like fire, weather-related damage, vandalism, explosions, and impacts from vehicles or aircraft. It is crucial to cover the primary dwelling. It can often be extended to cover other structures on the property, such as detached garages, storage sheds, decks, patios, fences, and driveways.
Personal property coverage
This coverage protects the contents of your home, such as furniture, electronics, clothing, and other personal belongings, against loss or damage due to events like theft, fire, or storms. Personal property coverage is essential for replacing or repairing your belongings and can be customized to include high-value items through additional riders or endorsements.
Liability insurance
Liability coverage is critical for protecting homeowners against claims resulting from injuries or damages on their property. This coverage can help cover legal costs and damages if you are found legally responsible for an accident or injury occurring on your property. It includes medical payments for injuries to others and legal defense costs if necessary.
Extended coverage
Extended coverage goes beyond the basics, including additional risks that might not be covered under a standard policy. This can include perils like flood damage, earthquake damage, and other "act of God" events that require specific inclusion due to their geographic and climatic conditions.
Replacement cost coverage
This type of coverage ensures that your home can be replaced at current market prices without factoring in depreciation in the event of a total loss. This is particularly beneficial for mobile homeowners, as manufactured homes can depreciate quickly compared to traditional homes.
Actual cash value coverage
Unlike replacement cost coverage, actual cash value coverage provides reimbursement based on the depreciated value of the home at the time of the damage or loss. This means the payout may not cover the full cost to replace or repair the damaged property, reflecting the age and wear of the home.
Trip collision coverage
Unique to mobile homes, trip collision coverage protects your home while moving from one location to another. This covers damages from collisions or accidents during transport, which is critical when relocating a manufactured home.
Add-on coverages
In addition to standard coverages, many insurers offer optional add-ons to enhance your protection. These can include:
- Flood insurance. Despite common misconceptions, standard mobile home policies do not typically cover flood damage. Adding flood insurance can be essential, especially in flood-prone areas.
- Earthquake coverage. Like flood insurance, this is a vital addition in regions where earthquakes are risky. Traditional policies do not cover earthquake damage, so this coverage can be crucial for complete protection.
- Coverage for additional structures. If you have structures other than your manufactured home, such as sheds, garages, or fences, this coverage ensures they are protected against damage or loss.
Save $1,604 (or more) per year on car insurance today.
- 2-minute quote
- State minimum coverage
- Full coverage
- Explore top brands
Insurance companies providing manufactured & mobile home insurance
Allstate Insurance
Allstate Insurance provides comprehensive coverage options for manufactured and mobile homeowners, including standard coverage for property damage, liability, and personal property. It is known for offering substantial discounts for customers who bundle their mobile home insurance with auto or life insurance policies. Allstate has a reputation for excellent customer service, underscored by its user-friendly mobile app and fast claims processing. These ensure that policyholders receive timely support and reimbursement following incidents.
Foremost Insurance Group
Foremost Insurance Group is a leader in insurance for older manufactured homes, offering specialized policies that cater to the needs of these properties. They understand the challenges and risks of older models and provide customizable payment plans to accommodate different budget levels. Foremost's strength lies in its flexibility and ability to offer comprehensive coverage that includes optional protections against specific risks, making it a preferred choice for owners of older manufactured homes.
American Modern Insurance Group
American Modern Insurance Group is renowned for its inclusive and extensive coverage options that go beyond the basics. They offer enhanced protection for manufactured homes, including coverage for floods and earthquakes — perils often excluded from standard mobile home policies. American Modern also facilitates online claim filing and management through a streamlined digital platform, allowing policyholders to easily manage their policies and submit claims anytime and anywhere, greatly enhancing the customer experience.
Farmers Insurance
Farmers Insurance offers specialized policies for manufactured and mobile homes designed to provide extensive coverage and peace of mind. These policies can include protection against a wide range of perils, including fire, theft, wind, and water damage. Farmers is recognized for its customizable policy options, allowing homeowners to tailor their coverage to fit their specific needs and budget. Additionally, Farmers provides excellent customer support and resources to help homeowners understand their coverage options and the specific considerations of insuring manufactured and mobile homes.
Assurant
Assurant specializes in providing tailored insurance solutions for manufactured and mobile homes, with a strong emphasis on accommodating homeowners' diverse needs. They offer robust coverage options that include the standard protections for structure, personal property, and liability and additional coverages for less common concerns like rental and vacant mobile homes. Assurant is recognized for its efficient claims service and proactive risk management advice, helping homeowners prevent potential losses before they occur.
Pros and cons
Pros
- Affordability. Manufactured and mobile home insurance tends to be more affordable than traditional homeowners insurance. This is largely because manufactured homes typically cost less to replace or repair than standard homes, making the insurance premiums more budget-friendly.
- Customizable coverage. Many insurance policies for manufactured homes offer a range of customizable options. Homeowners can choose from various levels of coverage for personal property, liability, and structural damage, as well as add-ons for specific perils like floods and earthquakes, allowing them to tailor the policy to their specific needs.
- Specific protection for unique risks. These policies include protections for the risks associated with manufactured homes, such as trip collision coverage during transport. This is a significant advantage as it addresses manufactured and mobile homes' unique mobility and construction features.
Cons
- Limited coverage scope. Some manufactured home insurance policies may have more limitations in coverage scope than standard homeowners policies. For example, they might not automatically include coverage for certain perils like floods or earthquakes without additional premiums, which could leave homeowners vulnerable if unaware of these exclusions.
- Depreciation issues. Insurance payouts for manufactured homes often factor in depreciation, particularly for older homes. This can mean that the compensation received may not fully cover the costs of replacing or repairing the home to its original condition, which could be financially challenging for the homeowner.
- Stigma and availability. A stigma can be associated with insuring manufactured homes, which are sometimes viewed as higher risk due to their construction and materials. This can affect the availability and variety of insurance options providers offer, potentially leading to fewer choices for homeowners.
FAQs
Is manufactured and mobile home insurance mandatory?
While not legally mandatory like auto insurance, many mortgage lenders require this insurance as part of their lending agreement.
What does manufactured home insurance typically exclude?
Common exclusions include damage from floods and earthquakes, though additional coverage can be purchased separately.
How can I reduce my insurance premiums?
Installing safety features, choosing a higher deductible, and maintaining a good credit score can help lower your premiums.
Save $1,604 (or more) per year on car insurance today.
- 2-minute quote
- State minimum coverage
- Full coverage
- Explore top brands
The bottom line
Manufactured and mobile home insurance is essential for anyone looking to protect their investment in these homes. With tailored coverage options available, homeowners can choose the policy that best suits their needs, ensuring that their home and personal property are protected against various risks. Understanding the features, benefits, and potential drawbacks of these policies will help you navigate the complexities of mobile home insurance and choose the best provider for your situation. Choose wisely to safeguard your home, your finances, and your future.
Joy Wallet is an independent publisher and comparison service, not an investment advisor, financial advisor, loan broker, insurance producer, or insurance broker. Its articles, interactive tools and other content are provided to you for free, as self-help tools and for informational purposes only. They are not intended to provide investment advice. Joy Wallet does not and cannot guarantee the accuracy or applicability of any information in regard to your individual circumstances. We encourage you to seek personalized advice from qualified professionals regarding specific investment issues. Featured estimates are based on past market performance, and past performance is not a guarantee of future performance.
Our site doesn’t feature every company or financial product available on the market. We are compensated by our partners, which may influence which products we review and write about (and where those products appear on our site), but it in no way affects our recommendations or advice. Our editorials are grounded on independent research. Our partners cannot pay us to guarantee favorable reviews of their products or services.
We value your privacy. We work with trusted partners to provide relevant advertising based on information about your use of Joy Wallet’s and third-party websites and applications. This includes, but is not limited to, sharing information about your web browsing activities with Meta (Facebook) and Google. All of the web browsing information that is shared is anonymized. To learn more, click on our Privacy Policy link.
Images appearing across JoyWallet are courtesy of shutterstock.com.
Share this article
