Best mobile home insurance

Our top 5 picks for best mobile home insurance

Your home is your most valuable investment, and mobile homes are no exception. When the unexpected happens, you want a policy that protects your investment and belongings. We’ve selected the best mobile home insurance providers available today.

• American Family
• Allstate 
• Erie
• State Farm
• Farmers

Mobile homes vs. manufactured homes vs. modular homes

Despite the difference in terminology, the real-world variations between these homes can be subtle. Although “mobile home” is widely used today, it technically refers to homes built before 1976, when the federal HUD code was established. Mobile homes and manufactured homes refer to factory-built homes rather than those built on-site.

Although ‘mobile home’ is widely used today, it technically refers to homes built before 1976, when the federal HUD code was established.”

“Manufactured home” is the modern term used for homes in this category built after 1976 and that adhere to the HUD code. Like mobile homes, manufactured homes are sometimes movable but can also be on a permanent foundation.

Modular homes are built to state and local codes, similar to stick-built homes. They are typically designed to look more like traditional homes and less like mobile homes. These homes are usually designed for frequent moves.

Insurance is especially important for mobile and manufactured homes because they are built on a chassis, which can make them more vulnerable to wind damage. Modular homes are closer to traditional homes, making risks lower.

Due to the increased risks that come with mobile and manufactured homes, insurance policies are often designed to cover events like damage from wind and transportation of the home.

How much is mobile home insurance?

Mobile home insurance costs typically between $750 and $1,500, though it’s difficult to give a range due to all the risks mobile homes may face. For instance, older homes or those in areas more prone to damage from wind or tornadoes may be more costly to insure. The coverage limits and deductibles also affect the monthly premium. Also, remember that some insurers may offer discounts, which can reduce the monthly cost.

» MORE: How to save on homeowners insurance

How to find the best mobile home insurance

Finding the best mobile home insurance is more than looking for the lowest rates. You should also consider coverage options, deductibles and company reputation.

Coverage options

Every mobile home is different, and coverage options must be available to meet its unique needs. For instance, your policy should cover your home’s structure, personal belongings, liability and any additional structures, such as porches or garages.

Your policy should also cover your home's risks, such as fire, wind, falling objects and theft. These are just some possible coverages you may need, but you should work with an agent to discuss your options.

Deductibles

Your deductible is the amount you pay before your insurance policy pays for covered costs. It can vary widely but might be between $500 and $1,000. Look for a mobile home insurance policy with a deductible you can afford.

Company reputation

The reason to get an insurance policy is so that you won’t risk losing your home or that it will become unlivable. This is critically important, so your insurer must be a dependable name you can trust. There’s something to be said for insurers that have been around for decades or even more than 100 years.

Similarly, strong financial stability ratings are also important. Insurers will reimburse you when necessary, so you need a company with stable financials.

» COMPARE: Best homeowners insurance companies

What does mobile home insurance cover?

Mobile home insurance covers many of the things you might expect. For instance, if there is structural damage to the home due to severe weather or a fire, your insurance will cover it. However, some extreme events, like floods and earthquakes, aren’t covered without a separate policy.

Bottom line

Like traditional homes, mobile homes need insurance to protect them from damage or unexpected events. These policies should generally cover the home’s structure, personal belongings, liability and living costs if you are displaced. In addition to cost, ensure the company you choose is reputable, with affordable deductibles and coverage options that meet your needs.