Mobile homes make up 12 percent of the housing market in South Dakota. These homes are different from site built homes, and they need different insurance coverage. That's why mobile home insurance exists. If you live in South Dakota, you can get customized quotes on manufactured home insurance that fit your home, your budget and the special risks you face as the owner of a mobile home.
Mobile Home Use in the U.S.
- Only 8% of homes in the U.S. are manufactured homes.
- More than 12% of homes in SD are manufactured homes.
- SD ranks 12th in the country for mobile home use.
- Mobile homes are more vulnerable to damage from earthquake, wind and hail than site built homes are.
- Mobile homes built before Department of Housing and Urban Development regulations went into effect in 1976 are more susceptible to fire than mobile homes constructed after that time.
Manufacturers construct mobile homes of lighter materials than are used for traditional homes. Builders then strap them onto piers rather than a foundation. Thus, they are more likely to suffer damage than their site built neighbors. Also, mobile homes are statistically more likely to be the target of burglars and vandals. That makes it more important than ever to get the right mobile home insurance to protect yourself from financial loss.
Mobile, Manufactured and Modular
"Mobile home" or "manufactured home" refers to a house constructed at a factory in large sections. The builder will put together and strap down the home at the home site. Mobile homes and manufactured homes both require mobile home insurance rather than a typical homeowners insurance policy.
Modular homes are different. Manufacturers construct these homes as segments, or modules. The builder then constructs the home at a site like a site built home. Modular homes use most of the same materials as a traditional home and have the same look and feel. For this reason, modular homes need a homeowners insurance policy, not a manufactured home insurance policy.
What Is Mobile Home Insurance?
Mobile home insurance is a homeowners policy that offers coverage for the special risks manufactured home owners face. Because the likelihood of damage is higher for a mobile home, the cost of coverage may be slightly higher than it would be for a site built home. However, the value of knowing that you could rebuild debt free after a disaster is worth the expense.
Mobile home insurance can help to cover the cost of damage from events like fire, smoke, lightning, hail, wind, debris, burglary and vandalism. This insurance can provide the following types of coverage:
- Mobile home coverage: This insures the home itself against covered losses. If you buy replacement cost coverage, you can get reimbursement for the price of a new mobile home to replace the destroyed home. If you opt for actual cash value coverage, your policy will account for depreciation.
- Contents coverage: This covers the property you keep in the mobile home against damage and theft, up to a certain amount, usually $20,000.
- Liability: If you accidentally cause bodily harm or property damage to a guest in your home, such as a dog bite or a slip and fall, you could face a legal claim. A claim against you can easily reach hundreds of thousands of dollars in settlement costs, court fees and your legal defense. Liability coverage can take care of a set portion of these costs for you. It's a good idea to set the limit as high as you can afford because a serious claim against you can cost you your home and your future earnings.
What Mobile Home Insurance Does Not Cover
Mobile or manufactured home insurance, just like other homeowners policies, does not cover natural flooding. This is flooding caused by excess rain, river runoff and swollen creeks. If your neighborhood participates in the National Flood Insurance Program, you can get a special flood insurance policy for your home. You may also need to purchase special catastrophe insurance like earthquake coverage. A local agent can speak with you about the types of coverage that are best for your county or city.
Get the Right Quotes for Your Mobile Home Policy in South Dakota
Mobile or manufactured home insurance comes in a wide variety of coverage levels and options, and the best way to save money on a policy is to shop around. An independent agent can make it easy to compare policies and quotes. Independent agents in the Trusted Choice® network can find the best policy for you at the right price.
Contact an agent right here in South Dakota for the quotes and mobile home coverage you need.