Mobile Home Insurance

The Penny-Pincher’s Guide to Mobile Home Insurance

(‘Cause maybe that’s just how you roll)

Andrew Bowsher | July 11, 2018
Mobile home located in a trailer park

Have you seen the cost of a brand-new single-family home these days? *GULP* It’s enough to make even the most innocent schoolboy belt out enough curse words to make a sailor blush. That’s probably why you’re starting to rethink that shabby-chic little rambler. And opting for a nice, new mobile home instead. But before you go and sign that check, just know that it also needs to be covered, just like any other home. 

Our independent insurance agents have seen it all. And they know exactly what to look for when helping find the right insurance for your needs. They’ll search high and low and bring you options that fit your criteria.

What Is a Mobile Home?

A mobile home—also called a manufactured home—is a 4-walled structure that’s built in a factory and delivered to you, to live in. It can remain “on wheels” or not and, in some cases, it can be built on a permanent slab for safekeeping. But that’s all up to you and your feelings about permanence. Just keep in mind that the more “secured to the ground” it is, the more insurable it is.

And similar to a manufactured home, but different, is a modular home. Modular homes are also built in factories. But, unlike mobile homes, they are brought to a permanent location in bigger chunks and assembled on-site. A modular home, depending on the insurance company, can sometimes be classified as a manufactured home and sometimes as a site-built home if it’s built on a foundation.

What Is Mobile Home Insurance?

From a distance, a mobile home insurance policy looks just like a standard homeowners policy. But when you get just a bit closer, you’ll see a few different little bells and whistles, and even some caveats that make it unique. 

Mobile homes are typically made with different materials than today’s site-built homes. Since they're created in a factory and then transported, the materials need to be much lighter.And you guessed it, they get damaged easier. 

Mobile homes are also, more often than not, simply anchored into place, not built securely on a foundation. All it’ll take is for some big ol’ twister to come whippin’ through on its way to Dorothy’s house to damage, and potentially destroy, your home and leave you with nothing. Raise your hand if that sounds fun. 

That’s why insurance companies offer mobile home insurance as a different type of policy from homeowners insurance. The risks are different and the coverages that matter to a mobile home owner need to be more closely protected with the right coverages.

What Does Mobile Home Insurance Cover?

Just like its close cousin, homeowners insurance, mobile home insurance coverage begins with a powerful trio of protection that we like to call PLC.

And here they are:

  • Property coverage: Protects you from any big loss to your property due to fire, natural disasters, etc.
  • Liability coverage: Protects you financially if someone files a claim or lawsuit after getting hurt in your home or on your property.
  • Contents coverage: Protects all your possessions and sweet stuff in the event of theft or some funky natural disaster-related damage

Now, the amount of coverage you’ll need depends on a number of factors. And the most important is probably the value of your home and its contents. Call a little timeout and think about what kind of compensation you’d need should you lose it all in some freaky ol’ disaster.

There are two ways you can choose to be reimbursed:

  • Actual cash value: Compensation based on the value of your structure in the current market, which takes into account depreciation (FYI: mobile homes depreciate very fast, just like a car.)
  • Replacement value: Compensation for the amount it would cost to rebuild the structure to its original condition with similar materials. 

There are benefits to both choices. And if you have any questions about the right route to take, talk to your agent and they’ll help guide you toward the option that’s best for you.

Why Should I Buy Mobile Home Insurance?

Pretty much any time you take out a loan for a piece of property, your lender will require insurance. It covers you, and it covers them—and then everyone’s happy.

But then there are those elements that are out of your control. Gnarly ol’ weather is always an unexpected house guest and mobile homes have a far greater risk of damage and total loss when it comes bowling through. Again, just consider where you’d be if you lost your entire home and all the sweet belongings inside it. 

And what about liability? All it takes is one far-sighted friend twisting an ankle after missing the bottom step to be sued. Or your neighbor getting nipped on the nose by your daughter’s Yorkie Poo could bring a flood of medical bills your way. Liability coverage will help protect you in situations like these.

How Much Does Mobile Home Insurance Cost?

Your premium costs depend on a number of different factors. Every state is different. Every company is different. And every mobile home owner’s needs are different. Heck, maybe you want to add flood coverage to your policy. That’ll cost a bit more. In general, the value of a mobile home is typically much less than a single-family cottage, so the cost of insuring it will be much less. Makes sense, right?

The best thing to do is speak with an agent about your mobile home and they can help ballpark a figure based on your needs. They love this kind of thing.

Comparing Mobile Home Insurance Quotes 

Our agents will review your needs and help you evaluate which type of mobile home insurance makes the most sense for you. They'll also compare policies and quotes from multiple insurance carriers to make sure you have the right protection in place. For you and your family.

The Benefits of an Independent Insurance Agent 

Insurance policies can be complex and searching through options can be confusing, time-consuming and frustrating. An independent insurance agent's role is to simplify the process. 

They’ll make sure you get the right coverage that meets your unique needs. Not only that, they’ll break down all the jargon and explain the nitty-gritty, so you understand exactly what you're getting. Article | Reviewed by Paul Martin

Now, who's ready to get their insurance problems solved?