Consider the home insurance options if you're considering buying a manufactured home. It's important to get a home insurance policy that covers your structure as well as any personal items you may own.
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. You can also add optional replacement cost coverage to replace items that are damaged or lost.
A standard home insurance policy covers your manufactured home as well as its personal property against damage caused by an insured peril such a hailstorm or fire. You can get endorsements to cover things not covered in a standard policy. For example, liability protection.
GEICO Mobile Home Insurance Reviews
GEICO provides two types policies: Actual Cash Value and Replacement Value. Replacement value policies may be more expensive than ACV policies, but provide greater financial protection if there is a loss.
Depending on your state, you can also purchase an extended replacement value policy that pays the full amount of your home's insurance premium to repair or replace your home after a covered loss. The premiums are based on replacement cost values of your house, which are typically higher than their depreciated values.
Foremost's large agent network offers affordable rates on both existing and new manufactured homes. Comparing quotes is possible online or via phone.
Many insurers provide discounts on things such as smoke detectors, shutters against storms and having garages or sheds in your yard. 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 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. It also offers a variety of endorsements, including coverage for hobby farming and livestock.
Farmers offers a variety of options to supplement its mobile home policy, including a loss settlement based on an agreed value. It has the option of adding replacement costs coverage which will pay for your home to be replaced with brand new products instead of its depreciated cost.
The mobile home is a significant investment, and it should be protected. For this reason, many mobile home communities as well as mortgage lenders require the purchase of a homeowners policy. For those who lack the time to construct their own home, a manufactured house is an excellent option.