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
Debbie Caldwell
When you first meet Debbie Harris-Caldwell, you are immediately drawn to her charming Welsh accent and the twinkle in her eye. The well-traveled transplant from Wales is quick to set you at ease and time spent with her promises to be time well spent.
Debbie has been a real estate agent for 40 years and takes great pride in her customer service skills. "I make myself available to my customers when they need me, whether it's on a Sunday Evening or after their long day at work. I make my schedule fit theirs. I also keep my customers updated on everything happening with their listings or purchase, I am their conduit for information." She has built a business following her key principles of clear communication, attention to detail, client advocacy, and comprehensive knowledge of the area. Debbie comes to every new transaction with positive energy, determination, a strong understanding of the currents driving the market, and the expertise that comes from a lifetime of experience. She knows the importance of marketing and whether a home is for sale for $200,000 or for $2 million, she always has professional photography done and creates a listing presentation that best shows off her customer's home.