How to Insure a Manufactured Home

Shopping for Manufactured Home Insurance

When shopping for manufactured home insurance, there are a few key things to consider. First, it is important to understand the different types of coverage available. Common types of coverage include property damage, liability, and personal property coverage. It is also important to consider the location of the manufactured home, as this can affect the cost of coverage. Finally, it is important to compare quotes from multiple insurance companies to ensure you are getting the best value for your money. London Insurance Agency and the Insurance Service Center of Corbin help to find the best rates from multiple companies so that you have options.

Factors that affect the cost of manufactured home insurance

The cost of manufactured home insurance can vary depending on several factors. One of the most significant factors is the location of the home. If the manufactured home is located in an area prone to natural disasters or high crime rates, it may be more expensive to insure. Additionally, the age and condition of the home can also impact the cost of coverage. A newer, well-maintained home may be less expensive to insure than an older, poorly maintained one. Lastly, the level of coverage selected by homeowners will also impact the overall cost of their policy. Homeowners who opt for higher levels of coverage will generally pay more in premiums than those who choose lower levels of coverage.

Common exclusions in manufactured home insurance policies to be aware of

While manufactured home insurance can provide valuable protection, it’s important to understand what is not covered under a standard policy. Some common exclusions to be aware of include:

  • Flood damage: Most standard manufactured home insurance policies do not cover damage caused by floods. Homeowners who live in areas prone to flooding may need to purchase additional flood insurance to ensure they are fully protected.
  • Earthquake damage: Similarly, most standard policies exclude coverage for earthquake damage. Homeowners who live in areas with a high risk of earthquakes may need to purchase separate earthquake insurance.
  • Wear and tear: Manufactured homes naturally experience wear and tear over time. However, this type of damage is typically not covered by insurance policies.
  • Neglect: If a homeowner fails to properly maintain their manufactured home, any resulting damage may not be covered by their insurance policy.

It’s important for homeowners to carefully review their policy and speak with their insurance agent about any potential exclusions or limitations. By understanding what is and isn’t covered, homeowners can better protect their investment and avoid unexpected expenses down the road.

Tips for finding affordable manufactured home insurance rates

While manufactured home insurance is important, it can also be expensive. Here are some tips to help you find affordable rates:

  1. Shop around: One of the best ways to find affordable manufactured home insurance rates is to shop around and compare quotes from multiple insurance companies. This will give you a better idea of what coverage options are available and how much they cost. Our agents get quotes from multiple companies so that you can make the best option.
  2. Increase your deductible: Increasing your deductible can help lower your monthly premiums. Just make sure you choose a deductible that you can afford to pay out of pocket if needed.
  3. Bundle policies: If you have other types of insurance, such as auto or life insurance, consider bundling them with your manufactured home insurance policy. Many insurance companies offer discounts for customers who bundle their policies.
  4. Improve your home’s safety features: Installing safety features like smoke detectors, deadbolts, and security systems may help lower your premiums.
  5. Maintain good credit: Insurance companies often use credit scores to determine rates. Maintaining good credit can help ensure that you qualify for the best possible rates.

By following these tips, homeowners can find affordable manufactured home insurance rates without sacrificing coverage or quality of service.