Do you have mobile home insurance? Budget-conscious consumers have also been driven to purchase more mobile homes. The Corporation for Economic Development notes that 21% of all new homes purchased since 1989 have been manufactured, or mobile, homes. This equates to over 17 million Americans currently living in manufactured housing. Many states have about 15% of their residents residing in these residences, including: Alaska, Mississippi, New Mexico, and South Carolina. According to an article for the BBC, the appeal stems from the American sense of freedom:
“And there’s the American love for freedom and mobility. Even though in reality mobile homes are never really very mobile, it’s the idea that you can pick up and leave any time if you didn’t like your circumstances, in a way you can’t with a house.”
For mobile home insurance, you first need to specify the type of home that you own: even though the policy might be a Home Insurance policy you still need to indicate whether it is a modular or mobile/manufactured home.
Modular home: These homes are pre-fabricated in a factory and delivered to your property in pieces where they are then assembled on a permanent foundation. For this, you need a standard home insurance policy.
Mobile/manufactured home: These homes are completely assembled before delivery. In addition, they do not sit on a permanent foundation.
Tiny Home: These small homes represent unique concerns.
No matter your reason for owning a mobile or modular home, you are at risk to the elements: weather, traffic, fire, road accidents, and much more.
This article will provide you with a guide to everything you may need to know about protecting your mobile home. Insurance is important! Accidents can be unexpected and possibly tragic.
People still recall the devastation of Hurricane Andrew as it forced its way on land in Florida in 1992. It damaged or completely destroyed thousands of mobile homes with its winds speeds reaching over 150 miles per hour. Since then, the mobile home manufacturing industry has learned its lesson and is now required to build sturdier frames for its homes. However, many mobile home dwellers live in rural or suburban areas where windy weather, such as tornadoes, can still be a major factor.
Mobile home insurance can protect you from a variety of incidents, including:
- Bad weather
- Personal property protection (from such events as theft or vandalism)
- Personal injury
- Guest medical protection (in case someone is injured in your home)
- Structure protection
- Temporary housing costs (in case your home needs repairs)
Just because you’re mobile home is large, doesn’t mean you’re immune from theft. In fact, in Hampton, New York in September 2013, a thief stole a 70-foot long mobile home. The $50,000 home and the trailer it was sitting on were taken from the parking lot of a diner where it was left unattended. The burglar came along while there was still daylight, hitched the trailer to his vehicle, and left without being noticed.
Accidents can result from a number of situations, including weather, fire, burglary, among others. It is important to be aware of the risks involved in owning a mobile home. Therefore, consider your options for proper insurance coverage.
Types of Insurance
There is a difference between full time and part time use and coverage. If you only use your mobile home during the warm summer months, than you may have the option of purchasing vacation liability coverage. This only covers your mobile home while it’s in use and being used as your permanent residence. If you decide to switch from taking occasional trips to being a “full-timer”, make sure to switch your insurance to reflect these changes. Your mobile home should now be reflected on your coverage as your main residence.
According to Kelsey Castle, there are eight items to keep in mind when shopping for insurance.
- Choose the right company
Your company may not have a separate option for your mobile home or have the right coverage under your homeowners insurance policy.
- Part-time versus full-time
Having the right coverage could save you money.
- Type of motor home
There are different risks and liabilities for your insurance agent to consider when determining the right coverage.
- Insure the interior
Be sure to insure your personal items!
- Check your homeowners policy
It may help, in part, to cover your RV too.
- Update your policy regularly
Customizations should be covered!
- Total loss replacement
Usually you can only claim your RV as a total loss if it’s less than a year old.
- Compare prices
The cheapest is not always the best option. Make sure you have the coverage you need.
Insurance costs for mobile home premiums vary. Various factors can play into the type of discount(s) you may receive. These include:
- Original owner discount
- Home safety equipment
- Constructed with fire-resistant material
- Senior citizen discount
Update your policy on a regular basis! Many mobile home owners like to customize their homes to suit their needs. This may mean solar panels, upgraded speakers, or even fireplaces! Be sure to add these changes to your policy so that you’re protected in case of a loss.
Speak with your insurance agent
Meet with your individual insurance agent to discuss the right options for your mobile home. Your insurance agent can provide you with the answers to any questions you may have. Remember to review your coverage needs once per year.
Other Enhance Insurance articles related to “special” Home Insurance:
Enhanced Insurance is not written by attorneys. If you’re looking for legal advice, you need to contact a lawyer. Further, insurance practices and forms change constantly and are varied from state to state. For definitive answers in your area, contact a local agent.
While the majority of people want an agent involved in their purchase of insurance, many people want to see if they can save money by buying direct from the insurance company. Others want to try a direct quote to make sure the premium they’re now paying through their local agent is fair. If you want a quote for your coverage, click on the competitive quote button on the right side of this page.