Manufactured Home Insurance

 

Manufactured homes are typically less expensive than traditional housing, but they come with unique risks that can leave them vulnerable to certain types of damages (e.g., windstorms). As a result, most manufactured or mobile homes don’t qualify for standard homeowners insurance. If you own a manufactured home, you will likely need a specialized form of homeowners insurance called mobile home insurance, which is designed to fit the unique coverage needs of your home. 

What Is Mobile Home Insurance? 

A mobile home insurance policy is similar to a standard homeowners policy in that it pays for repairs and replacements if your property is damaged by covered events. It also helps financially protect you from the legal expenses associated with lawsuits alleging you caused someone harm. But it is specifically designed to meet the needs of factory-built homes with moveable foundations—known as manufactured or mobile homes.  


Here are some of the most common coverages included in a mobile home insurance policy: 

• Trip collision coverage helps pay for repairs to your manufactured home if it is damaged during transport. 
• Personal property coverage helps pay for costs to repair or replace your possessions (e.g., furniture, electronics) if they are stolen or damaged. 
• Liability insurance helps provide coverage if you are responsible for others’  property damage or bodily injuries (e.g., it may pay for legal fees, medical expenses, and lost income if someone sues you for an injury that occurred on your property). 
• Dwelling coverage helps pay for repairs or replacements to structural aspects of your manufactured home. 
• Other structures coverage helps provide coverage for additional unattached structures on your property (e.g., gazebo, garage) from damages requiring repairs or replacements. 
• Additional living expenses helps cover the cost of relocation (e.g., meals, hotel stays) if property damage forces you to leave your home temporarily. 

Most mobile home insurance policies cover your property on an “actual cash value” basis, meaning your insurance company may pay for repairs or replacements based on your property’s estimated value at the time of the claim, taking depreciation into account. You can upgrade your policy to replacement cost coverage that generally does not factor in depreciation. 


Contact Brick Insurance Agency in Concord, California, for more information.   

How Much Does Mobile Home Insurance Cost? 

The cost of insuring your manufactured home depends on several factors. Here are some of the variables your insurer will look at when determining the cost of your premiums: 

• Location may affect your rates as some cities and states have different risks. 
• Home value can cause your premiums to increase as more valuable homes are more expensive to replace or repair. 
• Claims history may impact the cost of your insurance; homeowners with a claim-free record typically pay less for insurance than homeowners with several previously filed claims. 

How Do I Buy Mobile Home Insurance? 

We’re here to help you find the right policy for your home. Call Brick Insurance Agency in Concord, California, today to speak to an insurance agent and learn more about our coverage solutions.