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How Much Does Mobile Home Insurance Really Cost?


Finding the right mobile home insurance provider can be a daunting task. Since mobile & modular homes need their own type of homeowner’s insurance, costs are different than what you would associate with a traditional home. Mobile homes are much lighter than a stick-built house, and they are secured very differently. These differences can sometimes increase the risks, making insurance even more crucial to have. Your mobile home insurance should cover everything from theft and vandalism to property damage, liability issues to natural disasters like floods and earthquakes. While most people never have to experience these events, all it takes is one major incident to wreak havoc on your home, and thus, your finances. Finding the right mobile home insurance can therefore give you a sense of peace, knowing that your home is secure against many types of risks. 

Types of Coverage

In order to be able to calculate how much your insurance coverage will cost, you first have to look at the types of coverage available, and choose the best package for your needs. While there are many types of coverage that insurance can provide, there are four essential features to keep in mind while shopping for the perfect mobile home policy:

  • Dwelling Coverage is the most important, since it protects and reimburses you for any damage caused to your mobile home by ‘covered’ instances like wind or fire damage. Some policies will even cover risks that are not typically protected by renters or homeowners insurance, for example flood damage. Dwelling coverage policies usually do have a limit on the amount they will pay out for damages though so be careful when choosing your policy.
  • Personal Property Coverage policies will pay you to replace any/all damaged personal belongings on the protected property, but are usually fixed at a specific percentage of the limits provided by your dwelling coverage.
  • Liability Coverage protects you from legal liability costs that you can incur by damaging someone else’s property or to mitigate any injuries that someone sustains on your property
  • Loss of Use Coverage is a crucial part of a good policy, since it reimburses you for living expenses (beyond your regular spending), if it becomes impossible for you to stay in your mobile home. Hotel rooms, short-term rentals, food and gas reimbursement are some of the expenses covered under these clauses. 

There are plenty of additional options you can choose to add to your mobile home insurance policy, but these are the most critical ones to have. Some additional coverages to consider are: trip collision, replacement cost coverage, water backup coverage, identity theft coverage, farm liability & additional structures coverage.

What Are the Costs of Mobile Home Insurance?

A mobile home insurance plan’s total cost can vary dramatically depending on what type of coverage you want, the location, size, and value of your home. Depending on all these factors (and a few more), you can expect to pay anywhere from $300 to $1,000 a year for a mobile home insurance policy. However, the cost of manufactured home insurance can vary widely by ZIP code. Florida may be the most expensive state due to its extreme weather. The average mobile home insurance rate in Florida ranges between $800 and $2,500, depending on the county, with most counties averaging $1,000. You also pay more depending on how much your home costs:

  • $50,000 homes cost $1200 
  • $60,000 homes cost $1300 
  • $70,000 homes cost $1350 
  • $80,000 homes cost $1400 
  • $90,000 homes cost $1450 

What Factors Into These Costs?

There are a number of factors that go into the cost of a mobile home insurance plan, but some of the biggest ones that affect your policy cost are:

  • The value of your mobile home based on a recent evaluation and the purchase price
  • The contents of your mobile home and all their values
  • The address (and area) as stated on the home’s title
  • The materials your mobile home is made of
  • The square footage of the home 
  • The age of your home
  • The renovation and repair history
  • The previous insurance claims made on your home
  • The ownership details of the land your home sits on
  • Any additional safety devices you install, like smoke detectors and fire sprinklers or extinguishers
  • Any additional security features you add alarms, locks, dogs, and gates
  • Risk of flood/wildfires
  • Crime Rates in your area

When an insurance company begins to review your application for a mobile home policy, they compare the risk factors associated with the coverage you ask for. Then, they add up the costs that these risk factors bring with them and come up with a total amount for your policy. Also, it is important to note that the cost of your mobile home coverage will change over time, depending on the current value of your home, and any insurance claims that you make on it.

Insuring your manufactured home is one of the best ways to protect it and yourself from unforeseen hazards, so find the right insurance provider that will give you the best price for your situation!

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