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Today it’s easy to buy mobile home insurance online and save hundreds. The Internet is reshaping the way we buy everything from clothes to insurance. In the past, consumers would call an agency and make an appointment to talk to an agent. This approach to buying mobile home insurance took a long time and could not guarantee the lowest quote.
With direct home insurers like Citizens Property Insurance, consumers can now buy more coverage for less. They can often get a better policy at a lower rate than through a traditional agent, all online. Just enter your zip code to get started and fill out a simple quote application. You can compare multiple quotes at comparison sites like Citizens Insurance in under five minutes.
Mobile Homes are Popular in the United States
There are 33 states in the USA where about 5% of houses are manufactured or mobile homes. Nationwide, there are almost 10 million of these housing units altogether. One of the main benefits is cost and the ability to transport the house to another location.
For many people, housing costs are out of reach. The only way to secure the American dream of property ownership is to buy a manufactured or mobile home. In fact, much of the growth in the U.S. housing market is due to these structures’ increased popularity. The average cost of a home in America grew to over $400,000 in 2021. Additionally, home values are expected to increase even more in 2022.
Real wages have not kept up with the soaring cost of homes. Rising real estate costs for traditional homes is one reason why more and more consumers are turning to Manufactured homes. Low-income buyers in the market for a new home have found that they can only afford a mobile home.
There are roughly 17.1 million people in the United States that live in manufactured homes, and they are more popular than ever due to the explosion in Real Estate values. Get a free Citizens mobile home insurance quote and save hundreds with direct pricing.
What Exactly Is a Mobile Home?
Some people think the terms “mobile” and “manufactured” are somewhat similar but different. The truth is they usually mean the exact same thing. When the HUD government agency began to impose stricter regulations on mobile homes in the 1970s, many people started to refer to them as manufactured homes.
A mobile home is similar to being built in a factory and then shipped to the buyer’s residence. A modular unit is a bit different. It is often built in sections at a factory and then semi-constructed at the home’s location, much like a traditional house. These types of structures reflected the new HUD guidelines that governed the construction of these units.
Mobile Homes Often Decrease in Value Over Time
Unlike a home constructed from the foundation on up, mobile homes are seen as assets that depreciate or do not go up much in value at all. Many finance companies see these structures as vehicles because they will depreciate over time.
The finance companies need to factor in depreciation instead of the usual appreciation of the site-built traditional house. There are, of course, exceptions, such as manufactured homes in a prime location, like near the beach or popular casino, etc. It’s also difficult for many consumers to get a 30-year mortgage for manufactured homes.
Rates Vary Between Traditional Homes and Manufactured Homes
Mobile home insurance is a little different than covering a traditionally built home. Insurance carriers view regular homes differently because they are built “on-site” from the foundation on up, are built with better and stronger materials, and usually cost significantly more than a manufactured home.
On the other hand, mobile or manufactured homes are usually assembled in a factory, delivered via truck to the lot, and literally affixed to the foundation. These structures are still homes and need to be insured carefully. Let’s take a look at how to buy mobile home insurance online with the best coverage that will save you hundreds.
Insurance Limits for Your Mobile Home
For many people, their mobile home will be one of the largest assets they buy in their lifetime, if not their most significant. In some areas of the U.S., like San Diego, mobile homes can be worth way over $300,000. That is a greater value than many traditional homes across the country. A good, solid mobile home insurance plan needs to be put in place to protect it.
It makes financial sense to get a secured policy that will cover your home’s value. This way, if your modular pad is worth $100,000, then that is the coverage amount you need to aim for. If you are lucky enough to own a manufactured home overlooking the ocean in Santa Barbara or a desired coastal area, it could be worth over $500,000. This means you need to secure enough coverage to replace the home’s value. In this case, you should get insurance limits near $500,000 to cover the replacement value of your home.
If you live in an area prone to natural disasters like hurricanes, flooding, and tornados, your policy needs to cover these weather events. With a Citizens mobile home insurance policy, you can get complete coverage for as little as $29 a month and even buy your policy online. Get started with a complimentary quote and compare rates today. Enter your zip code to start your free direct quote.
Mobile Home Insurance Costs
Mobile homes, in general, are a bit expensive to insure relatively to the value of the structure. There are several reasons for this. One is manufactured homes tend to get broken into more. Another reason is in severe weather events, like a tornado, they tend to suffer much more damage. In fact, most mobile houses will be totaled in a direct hit from a tornado or hurricane. Remember, these units are not built upon a strong foundation and can easily be damaged in extreme conditions, like flooding or hurricanes.
Pricing depends on several factors like the property’s age and value, the deductible amount, type and amount of coverage, and location. The average cost of insuring a mobile home in the United States can vary from $250 per year to over $800. In an area like California, which has higher property values, insuring a manufactured home may cost $800 or more per year.
In contrast, a single-wide unit in rural Alabama valued at $28,000 may only cost $260 per year. Keep in mind that the size of the mobile property will also affect insurance prices. Double-wide houses will cost more to cover than single-wide ones. Get your free Citizens manufactured home insurance quote and compare rates in minutes.
Get the Right Manufactured Home Insurance Policy
Just like with any policy, mobile home insurance coverage has several types, including:
* Liability Insurance
This type of insurance will cover you in the event someone is injured on your property and files a claim for damages
* Property Damage
It is the essential aspect of your policy and will cover your home for any damages that might occur. This includes, but is not limited to, events such as natural disasters, fires, etc.
* Contents Insurance
An excellent solid policy will cover damages, theft, and legal liabilities. This coverage will protect you financially in the event your personal property inside your home is damaged. Flood insurance may be purchased as an option and may be required to obtain financing if the property is in a high flood area.
The most important thing is to insure your home for its value, and the unique contents inside you want to protect. So if the value is $125,000 and the contents inside are worth $25,000, then $150,000 is a coverage benchmark you should get covered for.
How to get Cheap Mobile Home Insurance Online
There are several ways you can get cheap mobile home insurance. The best place to compare the best rates is direct and online. Many insurers have special online rates that you might not be able to get through a broker or local agent.
Here are a few tips that can save you more on mobile home insurance coverage:
* Bundle your manufactured home and auto insurance policies together. This will not only make your life easier, but it can save you up to 20%
* Get a higher deductible. The higher your deductible amount, the lower your monthly premiums will be
* Install safety devices like a smoke or carbon monoxide detection device. This will save you about 5%
The last tip is to buy mobile home insurance online with direct carriers. The best rates for manufactured mobile home insurance are almost always going to be found online. You can compare rates and companies on the web in only a few minutes.
Most people can get better coverage and save hundreds by shopping directly with companies like Citizens homeowners insurance. To start, just enter your zip code. Start comparing online mobile home insurance rates in less than five minutes. Get started now with your free custom quote.