Manufactured home insurance is a specialized policy that protects mobile and manufactured homes from damage, theft, and liability risks. Manufactured home insurance is essential for protecting your investment and ensuring financial security in case of unexpected events.
The main differences between a mobile home and a modular home are:
A mobile home is a home that has axels intact and can be moved easily.
A manufactured home that has been built off-site, like at a factory and has it axels removed once on-site at of the property.
A modular home is built on site and is typically regulated by state regulations and codes.
All are regulated by federal building codes.
Insurance on a mobile home insurance policy covers, but not limited to:
Building or structure coverage
Personal Property
Liability
Other structure coverages (i.e. a shed)
The cost to insure a mobile or manufactured home is dependent on underwriting factors and desired coverages for the policy.
The main difference of a home insurance policy and a mobile home insurance policy is the structure dwelling coverage on a manufactured home policy is known to depreciate in value whereas a homeowners policy the rebuild cost increases.