Mobile home insurance, also known as manufactured home insurance, is a specialized type of insurance that can help cover mobile homes, manufactured homes, and modular homes. Depending on your coverage, this insurance may cover events like fire, theft, or weather-related damage. While it may serve a similar purpose to traditional homeowners’ insurance, mobile home insurance can help specifically address the unique needs of homes that don’t stay in one place. Whether you're in a mobile home park or a private lot, this insurance may yield financial benefits for you in the long run.
Key coverages offered in mobile home insurance
Here are some common types of coverage that may be offered for your mobile home insurance policy:
- Dwelling coverage: This can help pay for certain repairs to your mobile home in the event of a covered loss.
- Personal property coverage: This may cover your belongings inside the mobile home, such as furniture, clothing, electronics, and other personal items. Certain expensive items, like jewelry, may only be covered up to a designated limit.
- Personal liability coverage: If someone is injured on your property, liability coverage may help pay for their medical bills or your legal expenses.
- Additional living expenses coverage: If your mobile home becomes uninhabitable due to covered damages, this insurance may help cover the costs of hotels or transportation while your home is being fixed.
- Optional coverages: Depending on where you live, you may want to add coverages like flood or earthquake insurance. Dwelling coverage may not cover property damage if your home is affected by these natural disasters.
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Do you need mobile home insurance?
Home insurance for your mobile home isn’t always required by law, but if you’re financing, then your lender may require it. Even if it's not mandatory, purchasing coverage may help you avoid financial problems in the future. Mobile homes can be vulnerable to weather, fire, or theft, which insurance may help cover depending on your policy.
Mobile home insurance vs. homeowners’ insurance
While both types of insurance may be able to cover damages to your residence and belongings, mobile home insurance can help you navigate risks that are specific to your manufactured home. Though you can’t get a homeowners’ policy for mobile homes, let’s walk through a few other differences between these two types of insurance:
- Property types and construction differences: Mobile homes, manufactured homes, and modular homes commonly have unique construction characteristics compared to traditional homes. Mobile home insurance may help pay for damages to specialized or attached structures like awnings in the event of a covered accident.
- Coverage limits: Mobile homes may have different coverage limits than traditional homes, as the value of a mobile home may be lower.
- Covered risks: Risks such as windstorms and vandalism may be more common for mobile homes, so coverage options for these incidents may differ.
Factors that can impact mobile home insurance costs
Several factors may influence the cost of your mobile home insurance:
- Age and value of the mobile home: Older homes may be more costly to insure because they may be more susceptible to damage.
- Location: If your home is in an area prone to flooding, tornadoes, or earthquakes, your insurance premiums may be higher due to increased risks.
- Safety features: Homes equipped with smoke alarms, security systems, and tie-downs may be considered less risky which may decrease your premium. Additionally, you may qualify for certain discounts depending on what safety features your mobile home is equipped with.
- Deductibles and coverage limits: Lower deductibles or higher coverage limits may increase your insurance costs.
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FAQs
Do I need mobile home insurance if I own my home outright?
Mobile home insurance is not required by law if you own your home. Still, having mobile home insurance may help you avoid paying out-of-pocket for certain covered accidents.
Does mobile home insurance cover transportation damage?
Mobile home insurance typically doesn’t cover damage that happens while the home is in motion. You may need separate coverage for that.
What is the difference between a mobile and manufactured home?
The main difference is the construction standards. Manufactured homes meet stricter building codes from the U.S. Department of Housing and Urban Development (HUD) than mobile homes, and mobile homes typically refer to structures built before 1976.
Purchasing a mobile home insurance policy may help you navigate issues that could negatively affect your residence. Whether you’re a first-time mobile home buyer or looking to upgrade your policy, understanding the different coverages available may assist you in finding the insurance you need.
If you drive a personal vehicle like a sedan or SUV, you may be in the market for a personal auto insurance policy. For a free auto insurance quote, you can call Infinity Insurance Agency, Inc. (IIA) at 1-855-378-4705. Our agents can help you find coverage that fits your needs and budget.