How to Insure a Manufactured Home
If you own a manufactured home, you will want to have it insured. If you live in an area that is prone to strong storms, you risk having damage occur. Without having the proper insurance on your manufactured home, you will be left with the total cost of the damage. Shop around for the best prices on insurance.
- Check for insurance companies that
specialize in insuring manufactured homes. In addition, check with
larger insurance companies since they can sometimes offer discounts
that smaller companies cannot. The idea is to shop around to get the
most coverage for the least amount of money. In addition, the
insurance on all mobile homes are more than single family homes
simply because the value on these homes depreciate over time. - Keep in mind that the older your
manufactured home is, the more it will be to insure. If you have a
brand new home, it will cost less to insure than if you own one that
is 25 years old. More problems can occur on older homes than new
ones. However, if you have a newer home and it is financed, you will
be required to carry a certain level of insurance. With an older
manufactured home that is paid off, you can choose what level of
insurance you want and it may be less than on a newer home,
depending what you choose. - Make sure the policy includes a
replacement value. This is important because it covers your items
inside as well as the manufactured home itself. This is not
typically included in a policy, so be sure to ask about it when
shopping for insurance.