Is Mobile Home Insurance Expensive?


Mobile Home

In most respects, mobile home insurance isn’t all that different from traditional homeowners’ insurance policies. Both types of insurance plans cover domiciles, both offer similar coverage options for your property and possessions, and both are offered from many of the same companies.

At the same time, mobile home insurance is almost always a lot less expensive than what you pay for traditional home insurance.

According to data from the National Association Manufactured Housing Institute, mobile home insurance will usually cost anywhere from $300 to $1000 annually. Compared to the average cost of homeowner’s insurance, which will set you back $1500, that makes mobile home insurance significantly cheaper.

To learn more about mobile home insurance costs, coverage, and how to save money on your mobile home insurance going forward we have put together this detailed guide.

What Does Most Mobile Home Insurance Cover?

The majority of mobile home insurance plans are going to offer a couple of different categories of coverage, broken down into four big “umbrellas”.

Dwelling Coverage is the first type of protection you can expect from your mobile home insurance plan.

This is the insurance coverage that protects the actual structure itself, as well as any other permanent structures that are put on your property. If something happens to your mobile home, your garage, your deck, or a storage structure on your property this is the coverage that’s going to protect and insure the damage.

Personal Property Coverage is the second umbrella, the coverage that protects all of your personal belongings and possessions. If anything that you have inside your mobile home is damaged, destroyed, stolen, or otherwise lost the odds are pretty good that this is the coverage you will be tapping into on your plan.

Liability Coverage is the third umbrella that’s part of your mobile home insurance plan. This insurance is designed to protect you financially should someone injure themselves on your property and you are found to be liable. Liability insurance can cover medical expenses, legal fees, and more.

Finally, you have the Additional Limit Expense Coverage attached to your mobile home insurance plan. This is the kind of coverage that kicks in should your home become so damaged that you have to live somewhere else, while repairs or rebuilding is conducted.

How Much Does Mobile Home Insurance Cost (On Average)?

As we highlighted earlier, most mobile home insurance plans in the United States (as of late 2020) are going to cost anywhere between $300 and $1000 per year.

That shakes out to about $25 up to $83 a month for insurance alone.

A variety of different factors will play a role in determining just how much your mobile home insurance plan costs at the end of the day, though.

These factors can include, but are not limited to:

  • The location of your mobile home
  • The value of your mobile home
  • The cost to rebuild or replace your mobile home
  • Any and all limits or coverage extras that you have selected for your plan
  • The deductible that you have on your mobile home insurance

… As well as any other promotional discounts, deals, or offers that you take advantage of from the insurance company you’ve selected.

What to Look for in Mobile Home Insurance Companies

There are a couple of things you can do to save a lot of money on mobile home insurance, but none are more important than finding the right mobile home insurance companies to work with in the first place.

The overwhelming majority of traditional homeowners insurance companies are going to offer coverage for mobile homes, too. They are a great place to start your research.

There are also a wide variety of mobile home specific insurance companies out there that you’ll want to consider, too. These kinds of companies are usually a little bit smaller but oftentimes more flexible in their pricing and their coverage options.

It’s critically important that you look for a mobile home insurance company you can trust, an insurance company that has a great reputation in the insurance industry.

You’ll need to do your research and due diligence to find companies that treat their customers fairly, that offer deals and discounts (especially for those that bundle insurance or are first-time insurance purchasers), and that aren’t going to play any games should you need to file a claim.

At the end of the day, a couple of hours of research will help you find the best mobile home insurance companies that offer great prices and great coverage at the same time.

Compare several offers, speak to insurance companies directly to get answers to any questions you might have. Then select the company that offers great prices without cutting coverage options, and you should be able to find good and affordable coverage.

Rasmus

Hi, my name is Rasmus. I'm a huge fan of alternative living arrangements and the many ways people are escaping the 9 to 5 grind. Whether it's van dwelling or homesteading, if it allows for more freedom in your life then I'm all ears! I've been exploring different aspects of this lifestyle for over three years now and have learned so much. From solar power to worm farming, if there's something out there that helps us live differently - I want to know about it!

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