If you're thinking about buying a mobile or manufactured home, it's important to know the available options in home insurance. You'll need a policy which includes coverage specific to the structure and personal property you own.
Allstate Manufactured Home Insurance Review
Allstate offers mobile home insurance to customers in 19 states and provides a number of unique endorsements that can be added to your policy, including matching siding and additional living expenses during the rebuilding process. 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. Special endorsements can protect you against other things not covered by standard policies, like liability coverage.
GEICO Mobile Home Insurance Reviews
GEICO provides two types policies: Actual Cash Value and Replacement Value. Replacement value policies are more expensive than an ACV policy, but they provide better financial protection in the event of a loss.
Depending on your state, you can also purchase an extended replacement value policy that pays the full amount of your home's insurance premium to repair or replace your home after a covered loss. The premium for the policy is based on the replacement value of the home. This value is usually higher than its depreciated worth.
Foremost's large agent network offers affordable rates on both existing and new 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 provide discounts on things such as smoke detectors, shutters against storms and having garages or sheds in your yard. You can also choose to have a lower or no deductible.
The best way to find a policy that fits your needs is to ask an agent to shop around for you. Some companies provide exclusive mobile home discounts to their customers that they cannot offer to others. Other companies may be more receptive to a customer looking to reduce the cost of 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 offers a variety of options to supplement its mobile home policy, including a loss settlement based on an agreed value. It also has an option for adding replacement cost coverage, which will pay to replace your home with brand-new items instead of its depreciated value.
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. A manufactured home is a great choice for people who don't have the time to build their own home.