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Mobile Home Insurance

mobile home insurance

More than nine million Americans live in mobile homes. These lower cost homes are especially popular in the southern region of the US, such as Florida, Texas and Alabama. The popularity can be attributed to the relative inexpensive costs of acquiring these types of properties and the cheap land costs in the south. Whether you own or lease, you need to get mobile home insurance and properly protect your assets.

Insurance coverage for mobile homes is in many ways a lot like a typical homeowners policy. Many insurers who provide coverage for modular or mobile homes have two types of coverage options, standard and upgraded. The upgraded policy will allow you to replace your modular home at current market rates, in addition to insuring your property up to 120% of the coverage.

Note on the declaration page on the policy. An upgraded plan will also provide claim compensation for a much broader scope of potential hazards, such as flood damage. You need to decide carefully what option is best for you and if it fits into your budget.

Mobile Home Insurance Costs

Many people think that just because a modular home costs less that a traditional one and the insurance will also be much cheaper. This is not always true and in many cases, you might end up paying as much for mobile home coverage as your neighbor for a standard brick house.

Like an average home, your mobile house is a big investment, and you need to protect it adequately. This means getting not just the cheapest manufactured home insurance policy but the best coverage that adequately protects you from catastrophic events. Generally speaking, you will pay around $300 to $1,200 annually for your modular home insurance. There are many factors that go into pricing your coverage including:

* The area you live in. Geographical areas that have a higher propensity for fires, tornados or other severe natural events will cost more to insure your manufactured home.
* The appraised value of your manufactured home. Manufactured homes come in many price ranges and thus need to be insured for the current market value of the property. If you have a double wide home for example on a cliff overlooking the ocean in California, you will be paying more than a person near a mud hole with a single wide in southern Alabama. Also, the age of your modular home will be a factor in your premium costs. Many older manufactured homes are significantly weaker and prone to damages more so than a newly built home with stronger materials.
* The level of personal property coverage you get. Commonly known as contents coverage, this protection will compensate you in the event your personal items are damaged, such as a tornado, or theft occurs. If you own some really valuable things like a Rolex watch, make sure to list them individually in your policy and their value, to make sure you are totally covered. Also, take a photo of each valuable personal item, which helps expedite the claim process and provides additional proof that you are the owner of these articles.
* The Deductible you get. A home deductible is simply the amount that you choose to pay first, prior to your insurer providing compensation, in the event a claim is made. The higher you set your premium, the lower your premiums will be. This is an excellent way to add extra coverage to your policy while still keeping your costs low.

Mobile Home Insurance Quotes

Many large insurers offer manufactured house insurance, and you can compare quotes online in just a few moments. An excellent way to save is to bundle your automobile and modular home insurance together. This useful tip can save you 15% or more. To get the cheapest mobile home insurance quotes, compare multiple rates online. Prices can fluctuate considerably from each insurer so get as many quotes as you can. Get started with your free Citizens Insurance quote and get insured for much less.