What to Know About Insuring Your Manufactured Home

When you make a big investment, you want to do everything you can to protect it. That’s why it is so important to have insurance for your mobile home. While mobile home insurance is not required by law, it is still important to prioritize (and chances are, your mortgage company will require it). While policies can be costly, forgoing coverage means putting yourself at risk of a large financial loss.

Exactly what your mobile home insurance policy covers will depend on the specific policy, but in general, it will cover your home and personal belongings, as well as offering liability coverage. Additionally, the cost of mobile home insurance varies, so it’s best to seek out multiple quotes to find the right policy for your budget. 

What Does Mobile Home Insurance Cover?

Mobile home insurance offers all of the same coverage included in a standard homeowners insurance policy, including protections for your dwelling and property.

Mobile home insurance companies allow policyholders to customize their policies through endorsements, which supplement a standard policy. Endorsements provide coverage that doesn’t come standard with a homeowners insurance policy. 

The main coverages offered by mobile home insurance include: 

• Dwelling coverage: This coverage helps pay to rebuild or repair the physical structure of your home if it’s damaged by a covered incident. For example, if a fire damages your manufactured home, it would fall under dwelling coverage. Other structures that are covered under dwelling coverage include your roof and a deck that is attached to your mobile home.
• Personal property: Mobile home insurance provides protection for your personal belongings, whether they are damaged or stolen. For instance, if a burglar breaks into your mobile home and steals your laptop, you would be covered. Keep in mind that you would have to pay a deductible to make a claim.
• Liability protection: This coverage protects you if someone is injured on your property. For example, if your neighbor is struck by a falling tree branch on your property, you could be held liable. With this coverage, your insurance company would cover legal defense fees and can pay damages if you’re found to be liable. Your insurance company would only offer financial protection up to your coverage limit.
• Other structures: Mobile home insurance policies often include coverage for permanent structures that aren’t permanently attached to your home, like a garage or a tool shed.
• Additional living expense: If you’re unable to live in your home due to a covered loss, this coverage provides you with compensation for additional expenses while living elsewhere. For instance, if there’s a fire in your mobile home, your insurance company would pay for the cost of a hotel, up to your coverage limit.

Top Rated Mobile Home Insurance Companies

Some mobile home insurance companies stand out as particularly beneficial due to their extended coverage. Two of the top rated mobile insurance companies are: 

• Assurant Mobile Home Insurance: Assurant is one of the top-rated mobile home insurance companies because it serves as a one-stop shop for policyholders. Assurant provides policyholders with coverage for perils that aren’t usually included in other mobile home insurance policies, such as floods and earthquakes. While these coverages can be added through other mobile home insurance companies, they come standard with Assurant mobile home insurance — which is both unusual and useful.
• Foremost Mobile Home Insurance: For more than 65 years, Foremost has been insuring mobile homes. But what makes it one of the best mobile home insurance companies is its breadth of options. Policyholders can sign up for a standard mobile home insurance policy, but they can also add a ton of endorsements. One of its best endorsements is optional replacement cost. The endorsement allows policyholders to replace damaged items with new ones without a deduction for depreciation, up to 20% of the amount of insurance on the home. While this option is typical for a standard homeowners policy, it’s not often seen in mobile home insurance.

Mobile Homes in San Antonio and Odessa

As the world’s first virtual mobile home dealership, we know a thing or two about manufactured homes. Whether you have insurance questions or are reading to start the homebuying process, we’re here for you.

Contact Braustin Homes, or come visit us at our of our dealerships in San Antonio and Odessa.