Frequently Asked Questions
What Makes Manufactured/Mobile Home Insurance in Florida Different from Other States?
The primary difference in manufactured/mobile homes insurance in Florida from many other states is the most obvious one – Florida’s sub-tropical weather. Florida is one of the U.S. states in the North Atlantic tropical cyclone basin that is frequently impacted by hurricanes during the annual Atlantic hurricane “season” from June 1 to November 30. As a result, there are many factors in the provision of manufactured/mobile home insurance coverage that don’t apply in other regions.
This is why Bankers Alliance Insurance Group’s dedication and experience in working with so many quality insurance companies that are willing and able to insure this very unpredictable risk for owners of manufactured and mobile homes is so important. As an owner of a manufactured or mobile home in Florida, you can be confident that a Bankers Alliance quote will deliver the excellent coverage you need at rates that are as competitive as possible.
What Is the Difference Between Mobile Home Insurance and Modular Home Insurance?
Mobile homes and modular homes are both manufactured homes in the sense that they are both built in a factory. The key distinction between modular homes and mobile homes is that modular homes are assembled on-site onto a foundation. For insurance purposes, modular homes may be treated like site-built homes because of their similarity to site-built homes, which are considered to present fewer risks of damage or loss than manufactured mobile homes.
How Is Manufactured/Mobile Home Insurance in Different than Homeowners Insurance?
The primary difference is in how the insured home is built. Manufactured or mobile homes are built in a factory setting and ultimately transported to a home site, where they are most often tied down via ground anchors. Owners of these homes need a special insurance policy that addresses the specific risks involved in insuring a home that has been secured using the strap and ground anchor method, which are risks that are do not necessarily apply to a home that was built in place on a concrete foundation. Mobile home insurance, or manufactured home insurance, is designed to cover those risks as a distinct form of homeowners policy.
What Coverages are Included in Manufactured/Mobile Home Insurance?
Manufactured or mobile home insurance policies have many similarities to the standard homeowners insurance policy. Factors such as risks specific to your area, the value and size of your manufactured/mobile home and whther you own or rent the site where the home is located will determine the actual coverages, policy structure and amount of coverage of your policy.
The basic types of coverage may include:
Mobile Home Liability Coverage: Covers you if a visitor on your property gets injured due to your negligence, or if you damage someone else’s property and you are taken to court
Property damage: Covers any significant loss to your property that requires repair
Personal property: Covers your belongings in case of burglary or theft, as well as damage or loss due to weather events or disasters like fires, tornadoes or falling objects
What does Manufactured/Mobile Home Insurance Cost?
Manufactured/mobile home insurance has a different cost structure than standard homeowners insurance because mobile and manufactured homes often have different overall value than homes constructed on-site. If the manufactured or mobile home has a lower value than a traditional home, the insurance cost will tend to be lower, but in some cases, premiums on a manufactured/mobile home policy will be higher because mobile and manufactured homes are generally considered more risky to insure than other homes.
Bankers Alliance Insurance Group can compare rates from several different insurance companies to make sure you get the right amount of coverage for your needs at the best possible rate.
How Much Manufactured/Mobile Home Insurance Do I Need?
There are many factors that go into determining the right amount of coverage for your manufactured or mobile home. Consider the value of your home and all of your possessions, including furniture, art, electronics, appliances, jewelry, and so on. Typical minimum insurance amounts are $30,000 worth of coverage for single section manufactured homes, and $45,000 for double section homes. However, you want to consider whether you would be able to rebuild in the event of a total loss.
The other factor to consider is liability. Consider how much coverage you need to protect your finances in the event of a large claim, which can result from dog bites, four wheeler accidents, slips and falls, and other injuries that may occur on your property. If you are sued, your basic liability coverage may not be enough to pay for legal costs, any awards, lost wages or medical bills for the injured party.
Talk with a representative from Bankers Alliance Insurance Group about how much coverage is right for you, and whether a personal umbrella liability policy may make sense for your needs.
How Can I Buy Manufactured/Mobile Home Insurance?
Manufactured and mobile home insurance is offered through many companies, just like traditional homeowners insurance. You can get quotes and buy policies online with ease, and you can also get additional guidance from Bankers Alliance Insurance Group.
The most efficient way to get insurance is through a agency that has access to many different mobile home insurance carriers. Bankers Alliance Insurance Group representatives can quickly compare quotes and coverage options for Florida manufactured or mobile homes from several different companies for you and help you make an informed decision. Your agent will be there for you when you need to file a claim, and can help you to process your claim quickly so you can get on with your life. Contact Bankers Alliance Insurance today for assistance with your mobile, manufactured or modular home insurance.