If you're thinking about buying a mobile or manufactured home, it's important to know the available options in home insurance. You will want to choose a policy with specialized coverage based on the type of home you are buying and your personal possessions.
Allstate Manufactured Home Insurance Review
Allstate mobile home insurance is available to customers in all 19 states. The company offers a number unique endorsements such as matching sidings and additional living expenses when rebuilding. You can also choose to add replacement cost coverage in order to replace items damaged or stolen.
A typical home policy will cover damage to your manufactured home, including its personal belongings, caused by a covered peril like a fire. You can also add special endorsements, which protect against items that are not covered under a standard insurance policy.
GEICO Mobile Home Insurance Reviews
You can choose from two types of manufactured home policies from GEICO: replacement value and actual cash value. Replacement value policies are more expensive than an ACV policy, but they provide better financial protection in the event of a loss.
In some states, an extended replacement policy is available that will cover the entire cost of your insurance premium in order to repair or rebuild your home following a covered event. The policy's premium depends on the replacement cost value of your home, which is typically higher than the depreciated value of your property.
Foremost has a large network of agents and offers competitive rates on both new and existing 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 offer discounts for things like smoke detectors, storm shutters and having a garage or shed on your property. If you choose a no-deductible policy or a low-deductible plan, you can save.
Asking an insurance agent to look around is the most effective way to find the policy that best suits your needs. Some companies have exclusive mobile home discounts that they can't offer to other homeowners, while others may be more willing to work with a customer who is trying to save on their insurance.
Progressive Mobile Home Insurance offers many options including additional living costs, replacement cost and other expenses. It also offers a variety of endorsements, including coverage for hobby farming and livestock.
Farmers has a lot of supplemental options for its mobile home insurance, including an agreed-value loss settlement. 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.
Mobile homes are an investment and should be protected. This is why most mortgage lenders require homeowners insurance. For those who lack the time to construct their own home, a manufactured house is an excellent option.