Manufactured Home Insurance Discounts
The most refreshing part of buying anything, right? Discounts are bountiful with some insurance companies and non-existent with others. Many mobile home insurance companies are not full-line carriers. This means they don’t always offer home, auto, boat, RV, motorcycle, and mobile home insurance. So it can be tough to get a multi-policy discount. Luckily, there are other discounts available in many cases. If you have the following situation then you may be eligible for discounts:
- Your mobile home rests on a permanent foundation.
- You’ve built a basement beneath your mobile home.
- The roof is either pitched or shingled.
- You’ve installed mobile home skirting around the bottom of your home.
- You’ve installed smoke or fire detectors inside.
- You own a newer manufactured home.
- You are over 50 years old.
- You have installed burglar alarms, dead bolts, and smoke detectors.
- You have not had a claim in the last few years.
- You have a good credit history.
- You are the original owner of your mobile home.
- You have a security fence around your home.
Mobile Home Insurance Rates & Cost
Insurance rates are always a hotly discussed topic. It is natural to want the most possible benefit for the least amount of cost. It would seem that insuring a mobile home should be cheaper than insuring a site-built home, but that is not always the case. In our conversations, it seems that both types of policies will generally fall in the same range of cost when zip code, replacement value, and policy coverage are the same.
How much does Mobile Home Insurance Cost?
Choosing a manufactured home insurance policy based purely on cost is likely a bad decision. So, it may help you to understand the factors that go into the rates on your mobile home insurance policy.
- Where you live ( your ZIP code) – Higher land values, frequent severe weather, and higher rates of crime lead to higher insurance rates.
- Your home’s replacement cost – The more it costs to replace your home, the higher the rates on your policy.
- Your coverage options – A basic policy will always be cheaper than one with more comprehensive coverage.
- Your deductible – Higher deductible will lower your rates, while a lower deductible will increase your mobile home insurance rates.
- The amount of personal property – If you have a larger amount of belongings to insure then you can expect to pay a higher rate.
- Your level of chosen liability coverage – The more protection you require on liability, the more you can expect to pay.
The average manufactured home insurance policy will be priced between $300 and $1,400 per year. Rates will vary quite a bit based on state regulations and the reasons listed above.
Mobile Home Insurance Quotes
The future is now! If you are reading this then you have the means to do most of your mobile home insurance shopping right from the comfort of your home or office. Researching the cost of your mobile home insurance is easier than ever. At the end of the day, you will still likely have to speak with someone to get your coverage in place, but much of the work can be done without any direct sales pitches or funny business.
There are several ways to get mobile home insurance quotes:
- Online (Recommended)
- Through an independent insurance agent (Plan B)
- Through a captive insurance agent – Allstate, Farm Bureau, Farmer’s, etc.
- Through your bank or lender – usually a referral to partner insurance agent
Shopping for manufactured home insurance online can potentially save you hundreds of dollars a year. Not only does it allow you to compare quickly, it also is relatively fast when compared to calling an agent and waiting for a return call. The best ways to find mobile home insurance rates online is to do one of the following:
- Visit the individual insurance company website and request a quote.
- Use a third party service to compare multiple quotes at once such as NetQuote.
Through an Independent Insurance Agent
Independent insurance agencies are just that, independent. This means they are free to work with as many insurance companies that will have them. They are able to shop multiple companies on your behalf and return the best value. This is a preferred method for all insurance, not just for mobile homes. So after doing some research from your computer or smartphone, find a local independent insurance agency to see what they can do for you.
Through a Captive Insurance Agent
You can also pick up the phone, smile and dial your local captive insurance agent to see what the options are. We are often surprised at the rates both in a good and bad way. Sometimes they are bad, other times they are remarkable. The only way to know is to call.
Manufactured and Mobile Home Insurance Companies
Finding companies that offer mobile home insurance can be tricky. After all, Geico, Farmers, and Progressive all claim to offer mobile home insurance. The only problem is, they don’t. They actually are selling ANOTHER COMPANY’s policy and being paid a “finder’s fee” to do so. Anytime you can cut out the middle man you are bound to save money. So the list below is of companies that are actually involved in providing mobile home insurance policies direct to homeowners. Keep in mind that in some states these companies may not do business and may be forced to use a third party insurance company due to factors such as state regulations and the level of risk in that state.
Allstate – Allstate is one of the most popular insurance companies in the United States. They offer mobile home insurance in several states direct to their customers. Allstate is a great place to save with bundling – the process of getting discounts if you have an auto, home, liability, and other insurance coverage with them.
ForeMost – Though you may not have heard of them, they are only of the most prominent mobile home insurance companies in the United States. They consider themselves a “specialty insurance company.” The reality is they offer mobile home insurance in every single state except Hawaii and Washington DC.
State Farm – Also a big name in insurance. They offer mobile home insurance in many states as well. Another great one to look at if you are able to buy more than one line of insurance with them such as your auto insurance to secure extra discounts.
American Family – Not a big name in insurance but they do business in 20 states, primarily in the Midwest.
American Modern – A small insurance carrier out of Ohio that offers a mobile home insurance policy in most states.
MetLife – One of America’s largest insurance companies is also in the manufactured home insurance business.
Farm Bureau – Each state has a separate insurance company arm. Many of the state companies offer mobile home insurance.
Country Financial – Though not well known, Country Financial offers mobile home insurance policies in 19 states. Mostly in the midwest and southeast.
Standard Casualty – A specialty insurer that focuses on manufactured homes.
This is not intended to be a complete list. But, it was intended to show you that there are not many companies that actually are in the mobile home insurance business. Most companies simply sell other companies policies for a commission.
Manufactured and Mobile Home Insurance Reviews
If you ask 10 people, you are likely to get 10 different answers about the quality of insurance companies. For every raving fan of an insurance company, there are always a dozen folks who despise that same company. That is why we think that most insurance company reviews are not to be trusted. Overall, companies like Allstate, MetLife, and State Farm do a pretty good job as their reputation is one of their most valuable assets. Smaller insurance companies can get away with more due to the less public nature of their business. We encourage you to do your own research on review sites such as USinsuranceagents.com, FreeAdvice.com, and Glassdoor.com. Glass Door is actually a review site where employees review their company. We have always found this to be a great measure of a company, how well do you treat your employees?
Mobile Home Insurance Claims
Understanding the claims process for a manufactured home can seem like an endless stream of phone calls and paperwork. Figuring out if you have a claim is no different. Depending on how you purchased your insurance will determine how you proceed with claims.
- Purchased Through and Agent – Contact the agent to notify them of the claim. They will advise on if it is worth submitting and also help you through the claims process
- Purchased Direct through the Insurer – Contact the company directly and notify them. They may refer you to a claims processor or adjuster to help with the process.
Information to Have Ready for Filing a Manufactured Home Insurance Claim
When it comes time to file a claim, it pays to be prepared. It can also be difficult given that a claim also generally means your home is damaged and likely in disarray after a storm, fire, or theft. To make things easier on you and your insurance company, have the following information ready:
- Your Name, Address, and Contact Information
- Your Policy Number and Details
- Date of the Loss/Damage
- Description of the Loss/Damage (more details the better)
- List of items damaged or lost
- List of any injuries as a result
- A police report (if applicable)
- Photos of the damage or loss in question
- Documentation of the value and upgrades of the home
- List of your belongings, value, receipts, photos, etc.
How Does the Claim Process Work?
Every company will have its own processes around filing a claim, but they generally follow the same steps:
- You report the claim and provide details of the damage and/or loss
- Your insurance company will assign a claims adjuster/case manager. This person is responsible for collecting information about the claim.
- The claims adjuster will set a time to inspect the damage.
- The claims adjuster will reference your policy to determine if the claim is covered by your mobile home insurance policy.
- The claims adjuster will notify you of the claim outcome. If it the claim is covered, the claims adjuster will issue a payment for your loss. If denied, you will be notified and be forced to appeal if you feel the damage/loss was within your policy coverage.
- You will then use the payment issued to repair the damage. Some insurers may coordinate this on your behalf and pay for the damage directly. Alternatively, the insurance company may give you a list of companies they endorse for your damage.
Mobile home insurance can seem like a daunting task. After all, there are more than 4,000 words in the guide and we have poured over 20 hours compiling this information for you. Though we tried to make it comprehensive, there is still more that we could ramble on about. We feel that anyone who reads our guide should be in a much better position to make a good call on what the best mobile home insurance is for their needs. We hope you feel the same and happy shopping!