For residents of Florida seeking a flexible or inexpensive living choice, mobile homes\u2014also known as manufactured homes\u2014may 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.<\/p>
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.<\/p>
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.<\/p>
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. <\/p>
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.<\/p>
Insurance for prefabricated homes in Florida usually covers:<\/p>
1. Dwelling: Your mobile home’s physical structure is covered under this policy.<\/p>
2. Insurance for detached structures: This covers things like carports, fences, and awnings.<\/p>
3. Personal property insurance protects your possessions against damage or loss resulting from covered risks.<\/p>
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.<\/p>
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.<\/p>
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.<\/p>
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.<\/p>
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.<\/p>
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.<\/p>
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.<\/p>
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\u2014which frequently occurs during these strong storms\u2014is 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.<\/p>
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.<\/p>
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.<\/p>
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.<\/p>
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.<\/p>
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.<\/p>
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.<\/p>
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.<\/p>
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.<\/p>
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.<\/p>
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.<\/p>
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.<\/p>
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.<\/p>
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:<\/p>
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.<\/p>
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.<\/p>
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.<\/p>
You can save at least 5% if, for example, you add deadbolt locks, carbon monoxide detectors, and multiple fire alarms to your home.<\/p>