More than 6.5 percent of Michigan residences are mobile homes. Mobile homes and manufactured homes offer the advantages of low costs, quick construction, and the possibility of relocating your entire house when you move to another area. If you own a mobile home or have considered buying one, it is a good idea to look over the Michigan mobile home insurance options available to you.
Mobile and manufactured homes are insured in much the same way as a site-built house. However, mobile home insurance takes into account the increased risk of storm damage, as well as the probability that manufactured home values will decrease, while traditionally built home values tend to increase. An independent insurance agent in our network can help you find answers to your questions about manufactured home coverage. Contact a member agent today to get several Michigan manufactured home insurance quotes to compare.
Do You Need Mobile Home Insurance?
State laws regarding homeowners insurance and mobile home insurance vary, but in general, if any of the following conditions apply to you, you probably need mobile home insurance:
- If you owe money on a mortgage for your mobile home, you are most likely required to purchase mobile home coverage to protect your property and the bank's investment.
- If you do not have enough money saved to pay for the cost of rebuilding and recovering after a fire, tornado, or other disaster, mobile home insurance can protect you from heavy financial loss.
- If you own your mobile home outright but do not have liability coverage, you may need mobile home insurance to protect yourself from litigation if someone suffers an injury on your premises.
A local agent can take a look at your unique risks and circumstances and can help you find the Michigan mobile home policy that fits your budget and lifestyle.
Mobile, Manufactured, and Modular Homes
Many people lump mobile homes, manufactured homes, and modular homes into the same category. All three are similar in that their major components are factory-made. However, mobile homes and manufactured homes arrive on the home site in halves, thirds, or as a completed unit. Their installation involves simple, on-site assembly, and then strapping or bolting to a set of pillars or a concrete pad. Modular homes, on the other hand, are made of materials built off-site and are then constructed on-site, in a similar fashion as traditionally built homes.
The components arrive in smaller sections and are pieced together on a foundation. Because of the sturdier construction and the permanent foundation, owners of modular homes usually need a standard homeowners insurance policy. The lighter building materials and removable installation of mobile and manufactured homes leaves them more vulnerable to storms and other disasters. That is why these homes require special insurance. A local member agent can answer your questions about the special coverage you may need for your mobile or manufactured home.
What Does Michigan Mobile Home Insurance Cover?
A mobile home insurance policy provides roughly the same coverage as a traditional homeowners policy. But mobile home coverage takes into account the increased risk of weather damage, the depreciating value of manufactured homes, and circumstances such as whether or not you own the land you live on. Mobile home insurance protects you in the following ways:
- Liability: If you are sued for an accident or injury that occurs on your property, liability insurance covers your legal defense, court fees, and any settlement amount you must pay, up to the limits of your policy. It is usually a good idea to get as much liability coverage as you can afford because a large claim against you can affect your finances for decades.
- Property damage: This pays for the structure of your mobile home if it is damaged or destroyed due to fire, wind, vandalism, or other disaster. In the case of mobile homes, you are usually insured for the actual cash value of the home, rather than the replacement value. However, many companies offer extended coverage to pay the replacement value of your mobile home.
- Medical payments: Medical payments coverage pays the medical bills for a guest, neighbor, or intruder who suffers an injury in your home if you are found to be at fault.
- Personal property: This coverage pays for the actual or replacement cost of your belongings if they are stolen, damaged, or destroyed.
Mobile home insurance is highly customizable to suit a wide variety of risks and lifestyles. Independent agents work with multiple insurance carriers and can show you quotes for many different combinations of mobile home coverage, to find the best fit for your home.
How Much Does Michigan Mobile Home Insurance Cost?
Manufactured homes are usually less costly to buy than traditionally built homes, but they can sometimes cost more to insure. Your actual costs will be determined by a number of factors, such as:
- The age and value of your mobile home.
- The location of your home
- Local crime rates
- Whether or not you smoke
You can minimize coverage costs by installing extra security measures to reduce the risk of burglary. You can also make home improvements, such as adding insulation to prevent pipes from freezing. A member agent in our network can help you find other ways to minimize your risks and coverage costs. These agents can also combine your Michigan mobile home insurance with other coverage, such as car insurance, business insurance, and umbrella policies, to save you as much money as possible.
Compare Michigan Manufactured Home Insurance Quotes
There are many insurance companies that provide Michigan mobile home insurance, with a wide variety of prices and coverage options. Rather than searching carrier by carrier, you can get help from an independent agent who works with multiple companies to find the answers and the coverage you need.
Contact a local agent in our network today to compare a range of Michigan manufactured home insurance quotes from one convenient source.