For residents of Florida seeking a flexible or inexpensive living choice, mobile homes—also known as manufactured homes—may be a desirable alternative. According to the Manufactured Housing Institute’s 2022 study, Florida has one of the biggest manufactured housing marketplaces in the US, with 3,535 units produced in 2021 alone. In this article, Business Yield looks at the best mobile home insurance providers in Florida if you currently own a mobile home or are thinking about getting one.
What is a mobile home?
A mobile home is constructed in a factory before being transported to a house site, usually a mobile home park, where other mobile homes are located; this accounts for the “mobile” part of its name. It’s made to move, at least in the beginning, even though moving can be a tedious and slow procedure.
Although they are not the same item in technical terms, a manufactured home can also be referred to as a mobile home. The date of construction is the primary distinction between manufactured and mobile homes. Mobile houses were built on June 15, 1976, or earlier. The contemporary equivalent of the mobile home is the manufactured home.
Is mobile home insurance required in Florida?
Florida mobile home insurance is not mandated by law, but if you finance your manufactured house or mobile home, you’ll probably need to get coverage. For the duration that you are making payments, the lender will most likely need you to obtain Florida mobile home insurance coverage. But as part of their rules, certain mobile home communities might also demand documentation of coverage.
Having manufactured homeowners insurance in place could protect you from a significant financial loss in the event of damage or loss from a fire, hurricane, or burglary, even though it may not be necessary in your particular circumstance.
Florida Mobile Home Insurance Coverage
Insurance for prefabricated homes in Florida usually covers:
1. Dwelling: Your mobile home’s physical structure is covered under this policy.
2. Insurance for detached structures: This covers things like carports, fences, and awnings.
3. Personal property insurance protects your possessions against damage or loss resulting from covered risks.
4. Liability: This covers losses you inflict on other people’s property, as well as the costs of defending against lawsuits and winning verdicts in the event that someone is hurt at your house.
5. Medical expenditure payments: Whether or not you are found to be at fault, this policy covers medical expenses if a guest is hurt while on your premises.
6. Loss of use: This helps cover living expenses in the event that a covered loss renders your mobile home unusable. It covers reasonable expenses for things like lodging (hotel or apartment), meals, and storage fees until your prefabricated home is ready to be moved back into.
7. Sinkhole loss: Sinkhole insurance may be added by endorsement or may be included automatically in certain manufactured home policies. The coverage would cover structural damage to a manufactured house resulting from a verified sinkhole.
Things to consider about mobile home insurance in Florida
There are a few Florida-specific considerations when buying mobile home insurance that may enable you to get the appropriate level of protection at a reasonable cost.
#1. How old is the mobile home?
It could be more difficult and expensive to obtain insurance if you live in an older mobile home, particularly one that was constructed before June 1976. Even though you might only have a few options for insurance, you can still compare prices by obtaining quotes from a few different providers. In addition, the condition of a home may be affected by age, which could influence rates.
#2. Location
A skirted or enclosed foundation as a base and tie-downs that securely anchor the mobile home in accordance with local or state code standards are examples of conditions at the mobile home site that may reduce the cost of coverage. Your rates can be cheaper if your house is located in a mobile home park that has been approved.
#3. Hurricanes and tropical storms
Due to its coastal location, Florida frequently experiences hurricanes and tropical storms. While Florida requires insurance carriers to increase coverage against wind damage from named hurricanes, flooding—which frequently occurs during these strong storms—is not covered by a policy for a mobile home. To provide coverage, you will need to buy supplemental flood insurance from the National Flood Insurance Program (NFIP) or a private house insurance provider.
If you finance your mobile home, you might need to purchase flood insurance. Many mobile home insurance providers offer an additional hurricane damage deductible, which may be in the form of a fixed fee or a percentage of the manufactured home’s worth.
#4. Windstorms
As wind is covered by the majority of ordinary plans, the term “windstorm insurance” is a bit misleading. Furthermore, hurricane and tropical storm-related wind damage must be covered by home insurance policies in Florida. It’s important for you to understand how your policy handles wind damage, particularly during named storms, as you can have a unique wind deductible that’s more than the deductible for other things. You may, however, refuse windstorm coverage, provided you consent to bear the full expense of any wind-related damage to your mobile home.
The Cost of Mobile Home Insurance in Florida
The cost of mobile home insurance in Florida can vary significantly based on a number of variables, including your location and the limits you choose. Floridians spend an average of $894 annually on mobile home security.
Best Mobile Home Insurance Florida
#1. Allstate:
Allstate is among our best choices for mobile home insurance due to its remarkable array of features, including comprehensive coverage, huge savings, local customer support through its wide network of agents, and more. It thus performed better than any other company in our comprehensive study, with a rating of 4.84 out of 5.
Even though we have a lot of positive things to say about the company, Allstate might not be the best choice if you’re hoping to get loss-of-use coverage with your mobile home insurance policy because it might not be offered.
#2. State Farm:
If you’re a new owner of a mobile home searching for your first insurance policy, State Farm might be the ideal place to start. In addition to providing useful online tools for tracking your home’s inventory and learning about coverage, the company uses local agents to provide you with individualized customer service.
However, if you’re looking for a company that offers a variety of discounts and add-ons linked to owning a mobile home, State Farm might not be your first choice. They constantly provide some of the lowest rates for home insurance on the market, even though they don’t give any discounts.
#3. Farmers
Farmers offer coverage for mobile homes that can be tailored to meet your individual needs. Make sure you have the best coverage, deductible, and premium for your house that fits within your budget by working with your local agent.
Farmers may not be the ideal option for someone wishing to make the most of their additional coverage, even though their base policies are very customizable. The provider does, however, provide fewer add-on options than many of its competitors.
#4. Progressive
In order to save money out of your pocket during a claim on either policy, we advise homeowners wishing to combine their mobile home and auto insurance policies with Progressive because the provider offers a single deductible benefit that includes the deductibles from both policies.
Progressive might not be the ideal choice, though, if you don’t want to deal with the hassle of having your mobile home insurance policy underwritten by a different insurer.
Additionally, you get discounts for bundling, paying in full, and having a claim-free history when you shop for a mobile home insurance policy with Progressive.
Cheap Mobile Home Insurance Florida
It’s crucial to remember that not all insurance providers provide coverage for mobile homes. Nonetheless, these kinds of policies are provided by a number of national carriers. These consist of:
- Allstate
- State Farm
- Foremost
- American Family Insurance
- Nationwide
- Farmers
- Progressive
- Geico
- Met Life
- Assurant
- USAA
How to Get Cheaper Mobile Home Insurance
#1. Avoid Getting Needless Coverage:
Make sure your house is valued at its replacement cost rather than its original purchase price or market value. It would be wise to insure for $60,000 if that is the cost of replacement. It is not your intention to pay for unnecessary coverage.
#2. Keep your credit score high.
Similar to auto insurance, credit is a major factor in assessing an individual’s risk profile and probability of making a legitimate or fraudulent claim. Your premiums for prefabricated home insurance will be lower the better your credit is. Maintaining a credit score above 700 is the goal.
#3. Combine your policies into one:
You can save 10% or more by bundling with insurance that offers discounts. Some even offer exclusive prices for bundling life, car, and home insurance. To view the discounts you are eligible for, enter your zip code today.
#4. Add further safety features and install a security system.
You can save at least 5% if, for example, you add deadbolt locks, carbon monoxide detectors, and multiple fire alarms to your home.
Making the easy choice to have a larger deductible can result in annual savings of hundreds of dollars. For instance, with some insurance, you can save almost 30% with a $5,000 deductible.
#6. Evaluate Prices Every Year:
Try to reduce your premiums at least once a year. Utilizing your smartphone or any other web-connected device, go online and compare mobile home rates in a matter of minutes. There is no reason not to since it only takes a few minutes.
Do insurance companies insure mobile homes in Florida?
It is not legally necessary for Florida residents who own manufactured or mobile homes to carry mobile home insurance. Nonetheless, you will most likely require a policy if you finance it or reside in a mobile home park. Your possessions, liabilities, and more are all covered by your mobile home insurance, in addition to the building’s construction.
What is the oldest mobile home that can be insured in Florida?
In summary, there are no restrictions on the oldest mobile homes that can be insured, even if insurers may charge extra for those built before 1976. Additionally, because they might require fewer repairs following a covered peril, newly constructed manufactured homes are usually less expensive to insure.
Can you get hurricane insurance in Florida for a mobile home?
Florida law requires insurance providers to increase coverage against wind damage from named hurricanes; nevertheless, a policy for a mobile home does not cover flooding, which frequently occurs during these strong storms.
Why is it difficult to get homeowners insurance in Florida?
The hurricane danger in Florida has contributed to the difficulty in getting homeowners insurance, as it has in many other states due to harsh weather.
What makes an old home uninsurable?
There are several factors that can lead an insurance provider to declare a property uninsurable, including living in a high-risk area, having dangerous features, having maintenance problems, having a history of insurance claims, and more.
Is it safe to own a mobile home in Florida?
A mobile home in Florida might be the safest one you can purchase because of the state’s extensive installation requirements, strict building laws, and safety inspection standards.
How much is flood insurance for a mobile home in Florida?
The examination of FEMA flood insurance policy rates for 2022 and 2023 shows that the average annual cost of flood insurance on mobile homes in Florida is $838.
Are manufactured homes in Florida hurricane-proof?
Although Florida is renowned for its lovely, warm weather, its subtropical environment also occasionally produces hurricanes and other strong storms. Mobile homes are built to resist powerful winds, including hurricane-related gusts.
Is mobile home insurance more expensive than a homeowners insurance policy?
The cost of your policy is determined by a number of factors. Given that they are more prone than single-family houses to sustain damage from severe storms, mobile homes do pose a greater risk to insurance carriers. Nevertheless, mobile home insurance typically has lower limits than normal home insurance and lower limits typically cost less because mobile homes are typically less expensive to replace or repair than single-family homes. Your price will vary based on several elements, such as the degree of risk in your state, the condition and worth of your house, the firm you select, and the frequency of your losses.
What is the difference between a mobile home and a manufactured home?
Mobile homes are typically defined as prefabricated housing units that are moved to a residence. RVs, campers, and motorhomes are examples of moveable mobile home structures. Stricter building requirements apply to manufactured homes with regard to areas like the frame, insulation, and other safety-related issues.
What affects the cost of mobile home insurance in Florida?
Age, location, and condition are some of the variables that might have the biggest impact on Florida prefabricated home insurance. Insurance for older mobile homes—built before the implementation of new building rules for manufactured homes—is typically more costly and time-consuming than for newer models. Because of their lower risk, several Florida counties have lower premiums; nonetheless, house value is still a significant determining factor.
Do all insurance companies cover mobile homes?
Although there are a lot of firms that provide mobile and manufactured home insurance, not all of them offer this service or might be creating new policies in the state. Finding coverage for mobile and manufactured homes may be more difficult in Florida due to the state’s difficult home insurance market, as many insurance providers have either left the state, become insolvent, or begun canceling current policies. However, several carriers—like American Mobile Insurance Exchange, Kin, and Sutton National Insurance Company—are presently creating new products.
You might need to look for coverage through Citizens Property Insurance, the insurer of last resort backed by the state, if you are unable to acquire coverage in the private market.
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