Consider the home insurance options if you're considering buying a manufactured home. A policy should include specialized protection for the type and value of the home that you're purchasing, as well as your personal belongings.
Allstate Manufactured Home Insurance Review
Allstate provides mobile home insurance in 19 states. You can add unique endorsements to your policy such as matching siding or additional living expenses while rebuilding. You can also add optional replacement cost coverage to replace items that are damaged or lost.
A typical home insurer will cover your manufactured house and its personal possessions for damages caused by a covered event, such as fire or hailstorm. You can get endorsements to cover things not covered in a standard policy. For example, liability protection.
GEICO Mobile Home Insurance Reviews
GEICO offers two types of policies for manufactured homes: actual cash value and replacement value. Replacement value policies can be more costly than an ACV policy but they offer better financial protection should you suffer a loss.
If you live in a state that allows it, you can purchase a policy with an extended replacement cost. This pays out the full premium amount to repair your home or replace it after a covered incident. The premiums are based on replacement cost values of your house, which are typically higher than their depreciated values.
Foremost offers a wide network of agents, and competitive rates for both new and used manufactured homes. You can compare quotes online or by phone, though you'll have to wait a few days to receive a quote.
Many insurers give discounts when you install smoke detectors and storm shutters. You may also get a discount if your home has a garage or shed. You can save money by choosing a policy with a low deductible or no deductible.
Asking an insurance agent to look around is the most effective way to find the policy that best suits your needs. Some companies offer exclusive discounts for mobile homes that are not available to other homeowners. Others may be more willing than others to work with customers who want to save money on their insurance.
Progressive Mobile Home insurance offers a range of choices, including the replacement cost as well as additional living expenses. It offers many endorsements such as coverage for hobby farms and livestock.
Farmers mobile home insurance offers a number of additional options. One is an agreed-value claim settlement. It offers a replacement cost policy that will replace your house with brand new items rather than the depreciated price.
A mobile home is an investment that should be protected, which is why many mortgage lenders and mobile home communities require a homeowner's insurance policy. People who do not have time to build a home can choose a manufactured home.