What Factors Affect the Cost of Mobile Home Insurance?

Insurance for your mobile home is essential to help financially protect your investment from the unexpected. Like a homeowners insurance policy, mobile home insurance can offer financial protection for its structure and the personal property inside. Mobile homeowners must choose a policy that aligns with their budget and offers well-rounded financial protection.

How Are Mobile Home Insurance Premiums Calculated?

Premiums for mobile home insurance are typically calculated using the following factors:

• Value of the mobile home—One of the most significant factors used to calculate mobile home insurance premiums is the value of the mobile home and its contents. Mobile homes come in a wide range of sizes and qualities, so the cost of replacing the home after a covered loss varies. Typically, the larger the mobile home, the more expensive it will be to insure.

• Personal property coverage limits—Mobile homeowners must determine how much personal property coverage they need, which can be decided by the types of items that are kept in the home. Mobile homeowners must consider the value of their furniture, clothing, electronics and other personal belongings before choosing a coverage limit. The more valuable your belongings are, the more expensive the coverage.

• Liability coverage limits—Personal liability coverage is a crucial component of mobile home insurance. This coverage may help cover legal or medical expenses if you’re held liable for damage or injury to someone else while on your property. Increasing your coverage limits or purchasing an umbrella policy can increase premiums.

• Size, age, construction and location of the home—Insurers will assess the risk based on these factors. Older mobile homes, homes in high-risk areas (e.g., prone to severe weather), and homes with certain construction types may be more expensive to insure.

Learn More

Contact Cloverleaf Insurance today to discuss insurance for your mobile home. We can recommend ways to save on coverage costs.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.