Your home is a valuable investment, and protecting it against disaster can give you the peace of mind to live comfortably. When insuring your manufactured home you may have many questions, including: How is manufactured home insurance different from site-built home insurance? What kind of insurance is needed? Are there specific types of insurance to consider for homes in Florida?
Continue reading as we answer these questions and discuss what kind of coverage you need for your manufactured home.
What is Manufactured Home Insurance?
Similar to site-built home insurance, manufactured home insurance is designed to financially protect you from liability and loss. While options vary between insurance providers, the Insurance Information Institute states that manufactured home insurance typically provides coverage for property damage and personal liability that occur under specific circumstances.
Choosing the Type of Insurance You Need
Insurance isn’t legally required for manufactured homes, however, your manufactured home community or mortgage lender may require it. What’s more, your home is an investment, and insurance is the best way to protect it from damages outside your control.
To insure your home, you must buy a policy that’s specifically designed for a mobile or manufactured home. There are some differences between manufactured, mobile, and modular homes, however, modular homes qualify for the same conventional insurance rates as site-built homes.
Insurance companies typically provide homeowner’s insurance policies that cover your dwelling, personal property, and liabilities. Your dwelling includes your home and any structures on your property such as a garage, patio, shed, etc. Personal property includes movable items such as your electronics, furniture, cars, and other items on your property that aren’t part of the permanent structure. Most insurance providers offer protection against certain perils such as theft, wind, theft, fire, lightning, and more. If damages to your home occur that make it unlivable, your insurance may cover additional living expenses.
Personal liability coverage protects you financially if a member of your household is found responsible for accidental damage to another person’s property or if someone gets injured on your property.
Other Insurance Needs
While standard homeowners insurance policies protect you from property damage and personal liability, they may not cover certain damages.
Certain natural disasters including wildfires, floods, hurricanes, and earthquakes may not be included in your general insurance policy — especially if you live in a high-risk area.
Water damage as a result of a water backup from sewers, drains or pumps is not automatically included in insurance coverage. Purchasing water backup insurance can protect you against this.
- Mold can wreak havoc on your property, and Florida’s hot, humid, and wet climate increases the risk of mold growth. Mold isn’t usually covered in a standard home insurance policy if it results from humidity, preventable leaks, or flooding.
- Government acts, wear and tear, intentional acts, and damage resulting from pets, negligence, or building code violations are typically not covered.
While some insurance providers may not offer sufficient coverage for certain issues, or don’t cover them at all, you can generally add on specific policies to guarantee coverage.
Special Considerations for Florida Manufactured Homes
Florida is prone to certain perils such as hurricanes, floods, sinkholes, and more. If you live in a high-risk area, your insurance may not cover the damages from these natural disasters.
- When it comes to being hit by hurricanes, Florida ranks at number one in the U.S. — making hurricane insurance a smart addition to your manufactured home’s insurance.
- Flooding can damage and destroy your home and personal property, and this natural disaster isn’t covered by standard home insurance policies, however, separate flood insurance can be purchased.
- While insurance providers in Florida are required to offer “catastrophic ground cover collapse,” this typically only covers you in the case that a sinkhole makes your home unlivable. Sinkhole coverage offers comprehensive coverage against sinkhole damage — even if your home is damaged but still habitable.
While manufactured homes are designed to withstand Florida’s inclement weather, these additional policies can help increase your protection.
Protection From Your Manufactured Home Builder
Your manufacturer may offer certain warranties on your home to protect you from issues your insurance may not cover. Manufactured home builders are legally required to offer a 12-month long warranty on their constructions.
In addition, Jacobsen Homes offers a 2-10 year Home Buyer’s Warranty to protect you against structural defects for up to 10 years after the home is built. Structural warranties ensure coverage on qualifying defects and workmanship issues that resulted from the manufacturing process.