Tennessee is famous for picturesque mountains and great music. While there are urban areas like Nashville and Memphis, most of the state is sparsely populated. In fact, it's in the lowest quarter of states for population density. With a majority of residents living in rural areas, it's no surprise that mobile homes and manufactured homes are commonplace. Many owners are concerned about mobile and manufactured home insurance coverage; some even believe insurance is impossible to get. Continue reading to find out how to get quotes and important mobile or manufactured home insurance coverage.
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Mobile Home Statistics
- 0.2% of homes in Tennessee are mobile homes.
- Fire death rates are twice as high for mobile homes.
- Heating equipment and electrical equipment are the top causes of fires in mobile homes.
Mobile homes can be the perfect solution for families. However, there are risks associated with living in a mobile home. In 1979, HUD implemented stricter construction rules when it came to mobile home manufacturing, and, since then, mobile home accidents have decreased dramatically; however, they still happen. Mobile or manufactured home insurance is one way to know that you'll have coverage if a fire or accident occurs in your mobile home.
What Is Mobile Home Insurance in Tennessee?
Mobile or manufactured home insurance protects you from some of the most common risks and dangers associated with living in a mobile or manufactured home. A typical policy in TN may resemble the following:
- Property damage: Property damage coverage can assist you in repairing or rebuilding your mobile home following a covered event such as a tornado, fire, theft or another covered event. There are two types of reimbursement coverage available: actual cash value, which takes depreciation into account before reimbursement, and actual replacement cost, which provides you with the funds necessary to purchase a new mobile home of similar size and quality.
- Contents coverage: Contents coverage can help provide funds to cover personal property losses. You can cover items such as appliances, electronics, furnishings and clothing under this policy. If you have valuable antiques, collectibles or artwork, you may need to purchase additional coverage.
- Liability: We live in a litigious society. Even a small slip and fall or injury can spell financial disaster if a lawsuit arises. Liability insurance can help cover the cost of your defense fees, the injured party's medical expenses, and any property damage, up to the limits of the policy.
- Flood insurance: Mobile home insurance typically does not cover events like floods. Flood insurance, overseen by the National Flood Insurance Program, is available through insurance agents. In order to obtain flood coverage, you'll need to speak with an insurance agent.
- Umbrella liability: An umbrella policy is an insurance policy that can raise your liability limits on insurance such as mobile home insurance, car insurance, and even boat/RV insurance. Typically sold in $1 million increments, this insurance is usually a wise investment.
You may need less or more coverage than those listed above. In order to get accurate quotes for coverage, you should work with an insurance agent.
The Difference Between Modular Homes and Manufactured/Mobile Homes
Modular homes come in sections, or modules, for installation on a foundation. They are not movable, so insuring them is much like insuring a traditional home. Manufactured/mobile homes are complete upon removal from the factory. Their insurance is much like that of automobiles and trucks since you can relocate them. Upon delivery to the home site, they install on the ground.
How High Are Mobile Home Insurance Quotes in Tennessee?
When it comes to insuring a mobile home, there are many aspects to consider. While shopping for mobile home insurance quotes, make sure you are aware of the following factors:
- Type of mobile home
- Age of mobile home
- Size of mobile home
- Value of mobile home
- Location of mobile home
- Movement frequency of mobile home
- History of claims
- Value of contents in mobile home
- Preferred coverage types
- Preferred deductible
Insurers use all of these factors, plus more, to determine your individual mobile home insurance quotes in order to give you the best coverage at the right price.
Getting Mobile Home Insurance Protection in Tennessee
Purchasing mobile home insurance to protect your home and family is one important step in being a responsible owner. An agent is always available to help you discuss coverage options, modify policies and even help you file a claim.
Contact your neighborhood agent for help with quotes and coverage.