Manufactured homes insurance is similar to traditional homeowners insurance in many ways. However, because of the unique nature of manufactured home construction and mobility, there are some major differences.
Here's what to know about insurance for manufactured homes:
The difference between manufactured & mobile homes
Both mobile and manufactured homes are built in factories and set up on-site.
For insurance purposes, the main difference is the date the home was built: a manufactured home built before 1976 is a mobile home, and anything thereafter is a manufactured home.
What's covered?
Manufactured home insurance includes dwelling coverage, other structures coverage, personal property coverage and liability coverage - just like traditional homeowners policies.
What's not covered?
Like most insurance policies, flood and earthquake damage is not included in manufactured or mobile home insurance. Pest infestation, natural wear and tear and business-related damages are not covered either.
How much is manufactured home insurance?
Manufactured and mobile homeowners insurance costs range between $750 and $1,300 annually. Many factors can impact your rate, including location, your home's replacement cost, your deductible and age of your home.
Are manufactured homes harder to insure?
Manufactured and mobile homes are susceptible to wind and fire damage, which can make them more expensive to insure. Some other common risk factors include theft and pipe damage.
Many insurance companies offer incentives to lower the cost. For example, installing a home security system or features can give you a discount.
To find the best possible coverage, consult an insurance company.
About the Author
Kevin Kelleher
The thing that sets me aside from other agents is my experience, I started out a young man in construction learning everything from anyone that could teach me so before long I had my own company as a remodeling contractor then specialized in historical renovations by the end I had the pleasure of working on great jobs with great clients for 30 years. For the past 12 years, I have been enjoying the process of assisting my faithful clients with real estate transactions my knowledge of houses has given my clients a huge advantage when viewing properties and what is needed when selling. I have always enjoyed working with people and helping them in probably the largest investment they will make. I hope you will give me the chance to show you that honesty and hard work does pay off in the end whether you're buying or selling.
