You'll need to look at the different options available for home insurance if you are looking to purchase a manufactured or mobile home. 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 offers mobile insurance to its customers in 19 different states. It also provides unique endorsements, such as matching siding and extra living expenses for the rebuilding period. Optionally, you can purchase replacement cost coverage for items that have been damaged or are 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 also get special endorsements that protect against things that aren't covered by a standard policy, such as liability protection.
GEICO Mobile Home Insurance Reviews
GEICO offers you two options for policies on manufactured homes: the replacement value policy and the actual cash-value policy. Replacement value policies tend to be more expensive, but also provide better financial coverage in the event of 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 premium of the policy depends on your home's replacement cost, which is higher than depreciation.
Foremost is a well-established company with a vast network of agents. They offer competitive rates both on new and pre-owned 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 agent to do the shopping for you is the best way to get a policy that suits your needs. Some companies give exclusive discounts on mobile homes, which they don't extend to all homeowners. While others are more likely to help a client who wants to cut costs.
Progressive Mobile Home insurance offers a range of choices, including the replacement cost as well as additional living expenses. It also offers various endorsements that include coverage for hobby agriculture and livestock.
Farmers has a lot of supplemental options for its mobile home insurance, including an agreed-value loss settlement. It offers a replacement cost policy that will replace your house with brand new items rather than the depreciated price.
It is important to protect your mobile home as it is a valuable investment. That is why mobile home communities and mortgage lenders often require that you purchase a homeowners insurance policy. A manufactured home makes a great option for people that don't have time to build their home.