What is the difference between site-built home insurance and mobile home insurance?
Insurance companies treat mobile homes and site-built homes differently because of variations in construction and materials, as well as the value of the structures over time. Site-built homes are built on-site, onto a foundation; mobile homes, or manufactured homes, are built in a factory and then transported to the location.
Mobile or manufactured homes typically cost less than traditional site-built homes. And mobile homes actually lose value over time, unlike most site-built homes. One might then expect lower insurance costs for mobile homes, but this is not always the case. Sometimes, mobile home insurance costs just as much as site-built home insurance. This is because mobile homes have greater exposure to damage due to fire, theft, vandalism, and weather-related incidents or natural disasters.
Even modern manufactured homes that are stronger than older models come with increased risks.
What types of risks do mobile homes face?
While all homeowners must be concerned about damage caused by weather, fire and theft, mobile home owners are even more susceptible to damage from these types of events.
- Mobile homes are constructed of materials that may allow fire to spread more quickly, thus causing greater damage.
- Mobile homes are lighter weight and more susceptible to wind damage.
- Mobile homes may have less effective insulation, leading to an increased risk for frozen pipes and resulting in damage.
- Sometimes mobile homes are located in higher crime areas, making them more susceptible to theft and other property crimes.
- Mobile homes may experience costly structural integrity problems after transport.
- General health and safety risks are greater for mobile home owners than traditional home owners.
What does Florida mobile home insurance cover?
Pays for property damage after a natural disaster or fire
Example: Strong winds cause a nearby tree to fall on your mobile home.
Pays for repairs to your belongings
Example: Someone breaks into your mobile home and steals your brand-new TV.
Pays for a lawsuit if someone is injured in your mobile home
Example: One of your guests trips on a rug and breaks an arm after the fall.
Like standard homeowners insurance, most mobile home insurance policies will not cover flood damage. If you live in a flood-prone area, be sure to talk to your agent about obtaining flood insurance in addition to your mobile home insurance.
Whether or not you own the land on which your home sits affects the value of your manufactured or mobile home and its insurability. If you do not own the land, be sure that the land owner has appropriate coverage.
What affects mobile home insurance rates in Florida?
Florida mobile home insurance rates are affected by a variety of factors.
- Where you live. Locations with higher land values, higher incidents of severe storms or wildfires, or more crime will typically have higher mobile home insurance rates.
- Your home’s value. A single-wide home in a Florida mobile home park, for example, will likely cost less to insure than a double-wide home on private land that you own.
- The age of your home. Older mobile homes can be difficult and costly to insure because of the inherent risks for damage.
- The liability coverage you need.
- Your personal property coverage. The more personal property coverage you need, the more expensive your Florida mobile home insurance will be.
- Your deductible. Choosing a higher deductible will lower your insurance rates somewhat. Lower deductibles can mean even greater peace of mind but will increase what you pay for Florida mobile home insurance premiums.
Find the Best Florida Mobile Home Insurance Today
As an independent insurance agency, our office compares the policies from multiple companies to find the best policy for your needs. Please give our office a call today at 386-597-0287 or fill out a customer contact form and we will be in touch shortly.