Consider the home insurance options if you're considering buying a manufactured 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 Mobile Home Insurance is available in 19 States. Customers can choose from a variety of unique endorsements including matching siding, additional living costs during the rebuilding phase and more. Optionally, you can purchase replacement cost coverage for items that have been damaged or are lost.
A typical policy for home insurance will cover the manufactured home you own and any personal property in it against damage caused to them by covered perils, such as a storm or fire. Special endorsements can protect you against other things not covered by standard policies, like liability coverage.
GEICO Mobile Home Insurance Reviews
GEICO offers manufactured home insurance in two different types: replacement value or actual cash value. Replacement value policies can be more costly than an ACV policy but they offer better financial protection should you suffer a loss.
According to your state's laws, you may also be able to purchase an extended-replacement value policy which pays the entire amount of your premium for your home insurance in order repair or replace after a covered damage. The premium of the policy depends on your home's replacement cost, which is higher than depreciation.
Foremost offers a wide network of agents, and competitive rates for both new and used manufactured homes. You can get quotes by phone or online, but you will have to wait for a few days before receiving one.
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 also save by opting for a low-deductible or no-deductible option.
Asking your agent to compare policies is the best option to find one that meets your needs. Some companies will offer discounts only to mobile home owners, but not to homeowners. However, some may work more closely with customers looking to cut their insurance costs.
Progressive Mobile Home insurance offers a range of choices, including the replacement cost as well as additional living expenses. There are also a number of endorsements available, such as livestock and hobby farming.
Farmers Mobile Home Insurance offers many options, such as an agreed-value 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.
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. People who do not have time to build a home can choose a manufactured home.