Home Owner’s Insurance for Mobile Home Owners
In many ways, homeowner’s insurance for owners of mobile homes - or manufactured homes, as the industry prefers to call them - is the same as for owners of any other homes, although there are some differences.
Mobile homes are a growth industry - according to the Manufactured Housing Institute (MHI), mobile homes make up more than 10 percent of total US housing and mobile home sales comprise about 25 percent of new residential construction each year in the United States.
Unfortunately, whereas mobile homes tend to be significantly less expensive to buy than other types of home, they can be more expensive to insure. The size and type of mobile home can make a difference to the cost of the insurance premiums - double-wides are usually less expensive to insure than single-wides.
Insurance companies base their costs on assessing risk and there’s no doubt that living in a mobile home means higher risks. Mobile homes are more prone to damage from wind, rain or tornadoes and more likely to be blown over.
Contrary to popular belief, they are no more likely to catch fire as other types of homes, although the insurance companies assume that fire will spread through a mobile home more rapidly.
Another risk factor with mobile homes is the risk of frozen pipes. Mobile homes are generally not as well insulated as other types of housing and because of this there is a greater chance of pipes freezing.
There are some steps you can take to help lower the insurance premiums if you live in a mobile home. As with everything else, firstly be sure to shop around and compare rates and services.
The more firmly attached it is to the ground with approved "tie-downs" or anchors, the more favorable your quote from insurance companies will be. The possibility of frozen pipes can be reduced with better insulation and weatherproofing.
If your mobile home was built in 1977 or later, it must by law adhere to HUD guidelines which include certain standards for fire resistance, strength and insulation. If your home is older than that you may be looking at higher premiums.