How Much Does Mobile Home Insurance Really Cost?

This kind of homeowners insurance covers bodily injury to the mobile home and personal goods inside your house. It also offers additional expenditure coverage and personal liability insurance if damage renders your mobile home uninhabitable.

Read on to learn about mobile home insurance and how much it will cost.

Insurance for Mobile Homes

Insurance for mobile homes is very similar to typical homeowners insurance. It protects your personal property, mobile home, and liability claims if someone is hurt on your property. It will also cover extra expenditures (such as hotel and laundry fees) if you have to relocate temporarily and medical bills if someone is injured on your property.

Insuring your home and its contents against loss and damage, even if your lender doesn’t demand it, can help safeguard your investment.

What Is Not Covered by Mobile Home Insurance?

  • Physical damage occurring in transit: Normally, coverage isn’t in effect while your mobile home travels. Therefore, you might need to obtain a particular endorsement that provides coverage for the building and your personal belongings while you’re moving if you’re relocating your mobile home.
  • Floods: Damage caused by a flood is often not covered by policies for mobile homes. However, you can get a different flood insurance coverage.
  • Earthquakes: Most plans for mobile homes exclude coverage for damage caused by earthquakes. However, you can buy separate earthquake insurance, just like you can with flood insurance.

What Is the Typical Cost of a Mobile Home Insurance Policy?

The price of mobile home insurance might differ significantly depending on the coverage you require and the size, state, and location of your house. The typical cost of mobile home insurance in California is between $250 and $1,300 per year.

Factors Affecting Mobile Home Insurance Rates

The cost of your mobile home insurance relies on several variables. To get a sense of how much your insurance might cost and to seek methods to lower your expenses, let’s take a closer look at some of those aspects.

Personal elements

  • Location: Compared to states with gentler weather, purchasing coverage in conditions with extreme weather, such as tornadoes, hurricanes, and hail, is typically more expensive.
  • Personal property value: The higher the value of your possessions, the more expensive they are to insure.
  • Claims history: Your new insurance provider will consider your claims history when calculating the cost for your new policy if you already have a home or mobile home insurance policy.

Mobile home factors

  • Value: The insurance price for a newer luxury modular home will be more than the rate for an older home.
  • Age of the mobile home: Older mobile homes may be harder to insure or have higher premiums for policies that cover them. In addition, older mobile homes don’t satisfy HUD guidelines. Therefore insurance companies view them as higher risk.
  • Materials: More robust materials are less likely to sustain hail and wind damage, decreasing your likelihood of making an insurance claim.

Bottom Line

The annual cost of mobile home insurance can range from $300 to $1,000. Your property’s location, age, and condition will influence your premium. Due to the need for more riders, mobile homes in hazardous weather regions or disaster-prone areas will have higher rates.

Get the Desired Mobile Home Insurance with Duane Weber Insurance, Inc.

Knowing how much mobile home insurance costs and other factors that affect it is necessary for you if you. Looking to get mobile home coverage for yourself? Contact our professionals here at Duane Weber Insurance, Inc. We will help you at every step of the process.