Mobile Home Insurance in New Hampshire
What is mobile home insurance?
Manufactured homes expand access to affordable housing, but the homes themselves require sizeable investments. Mobile home insurance can help New Hampshire residents who own either a manufactured or mobile home protect their residences and themselves.
Mobile home insurance policies are specialized personal policies for owners of manufactured homes that consider the value and construction methods of the home, including if built on a permanent slab or remains on wheels.
What is the difference between a mobile home, manufactured home, and modular home regarding insurance?
Mobile and manufactured homes are terms often used interchangeably, but both are considered manufactured homes, as both are built in a factory and delivered to a site. It can either be installed on a slab or not, but as the structure needs to be light enough to transport, it is often more susceptible to damage than a site-built home.
A modular home is also built off-site in a factory but delivered to a permanent site in larger sections and assembled. If the home is built on a foundation, mention this to your insurance professional, as some companies allow such homes to be written on a standard homeowner's policy, which is often less expensive and can provide more coverage.
Who in New Hampshire should have manufactured home insurance?
New Hampshire residents should have manufactured home insurance if they own a manufactured or mobile home. This tends to be the best type of homeowners insurance for these homes.
What coverages does manufactured home insurance make available?
While the precise coverages that manufactured home insurance policies offer can vary, they usually include protections similar to those found in single-family home insurance policies. For instance, both policy types usually offer:
- Property Coverage can protect the manufactured house against damage such as fire, wind, fallen trees, and other common weather events.
- Other Structures Coverage can protect secondary structures, such as fences, sheds, and detached garages, from covered losses.
- Personal Property Coverage can help replace personal belongings.
- Loss of Use Coverage can reimburse you if a covered disaster makes the home uninhabitable.
- Personal Liability Coverage may cover defense and damages awarded from lawsuits brought against you or other household members for which you are legally responsible for
Reviewing the carrier's coverage and endorsements with any insurance policy is crucial, but especially on a NH mobile home policy. A policy written with Actual Cash Value (ACV) means that any claim payment would include depreciation, which can be significant. (Think of how much a car depreciates as soon as it is driven off the lot.)
A mobile home policy written with Replacement Value would allow you to rebuild your home back to its original condition if totaled in a covered loss.
Is insurance coverage available for older manufactured homes?
Insurance is usually available for older manufactured homes, as long as in good condition.
Residents with trouble insuring an older manufactured home should speak with a knowledgeable insurance agent about the matter.
Do mobile home policies cover floods?
Flooding is excluded explicitly in most homeowner's policies, including manufactured homes. If protection against floods is wanted (or required), the coverage must be purchased separately. The National Flood Insurance Program (NFIP) offers flood policies to property owners (including manufactured homeowners) in qualifying areas, as do some private insurance carriers. Talk to your insurance professional about this coverage as though not everyone is on the water; it most likely rains where you live.
How much do manufactured home policies cost?
Many factors can affect the cost of manufactured home insurance. For instance, all of the following can raise or lower a policy’s rates:
- Age of the insured (particularly if 50+)
- Age of the manufactured home
- Whether inside or outside of a mobile home park
- Claims history
- Number of policies purchased
An independent insurance agent, such as HPM Insurance, can help compare insurance rates from different companies and recommend whichever they believe has the best policy solution for a situation.
How can New Hampshire residents get mobile home insurance?
For help insuring a mobile or manufactured home in New Hampshire, contact the independent insurance agents of HPM Insurance or click the Provide Info for a Mobile Home Quote button below:
Our agents will work with you to discuss your coverage needs and then help you find various coverage options customized for you.