Home Insurance for Mobile Homes

According to the Housing and Urban Development Division, a home built before June 15, 1976 is referred to as a “mobile home.” Anything built after that date is a “manufactured home.”

64% of mobile home owners are employed full-time.

Mobile Home Ownership Booming

The Manufactured Housing Institute reports that mobile homes account for roughly 25% of new residential structures in the United States, and more than 10% of total housing. In a number of rural areas, mobile homes are even more common.

One reason for the boom in popularity is cost. A brand new manufactured home can start under $30,000. That’s less than many modern SUVs or full-size trucks!

Why Mobile Homes Need Insurance

By their very nature, mobile homes are inherently more hazardous than traditional homes. For example, a number of manufactured homes aren’t assembled to a permanent structure, making them susceptible to wind damage. In strong winds, mobile homes have been known to be blown off their foundation. Some fires are also a major problem for mobile home owners. Units built before 1976 are considered at high-risk for fire damage due to outdated construction and safety standards, as fires spread faster in mobile homes. In fact, three times as many people die in mobile home fires than in traditional home fires.

Your home is probably the most expensive thing you own, so protecting it with a proper insurance policy is a must. Failing to purchase home insurance is tantamount to gambling with your future. If a catastrophe occurs and you’re uninsured, you could lose your home, your possessions, your vehicle—everything.

What Type of Insurance Do You Need?

Depending on a mobile home’s construction, owners of factory-built homes will purchase either mobile home insurance or a standard home insurance policy. There are two primary types of factory-built homes, modular and mobile/manufactured.

Modular homes – pre-fabricated homes that are transported in pieces and constructed (or put together) by contractors at the site. These homes are usually assembled to a permanent foundation.
Mobile or manufactured homes – homes that are constructed entirely in a factory and are fixed on a permanent steel chassis. They are towed to the site, and are not attached to a permanent foundation.

If you own a modular home, you should get a quote for a standard home insurance policy. However, if you own a mobile or manufactured home, you may need a manufactured home or mobile home insurance policy. If you’re not sure which type of mobile home you own, check your home’s information tag or contact an insurance agent.

What’s Covered by Insurance?

If you own a modular home, you’ll need a basic homeowners insurance policy. This will cover structural damage to your home, liability claims, loss of items not attached to your home, and personal possessions. Additionally, a standard homeowner’s policy will reimburse you for hotel and food expenses if you are not able to live in your home while repairs are being made.

However, if you own a mobile or manufactured home, your coverage may be slightly different. A mobile home/manufactured home insurance policy may include:

Home and Structure Protection – pays to repair damage caused to your mobile home’s structure
Personal Property Protection – covers damage or loss of personal possessions
Guest Medical Protection – covers medical costs for guests injured in your home
Additional Living Expenses – reimburses temporary housing costs

Not all forms of coverage are available in all policies.

Mobile Home Insurance Discounts

Some companies offer insurance discounts for mobile home owners.

Original owner discount – Save up to 5%
Multi-Policy Discount (Home/Renters + Auto) – Save up to 15%
Home Safety Devices – Save up to 15%
Fire Resistant Material – Save up to 15%
Senior discount (typically 55 and older) – Save up to 10%

As an owner of a mobile home, it’s critical that you recognize the dangers and protect your home with an insurance policy. InsWeb.com can help you find an affordable home insurance policy that suits your needs.