April 17, 2021

Mobile/Manufactured Home Insurance FAQ's

Q: What is Replacement Cost Coverage? Actual Cash Value?
A: Replacement cost coverage does not subtract any amount for depreciation. Actual cash value coverage will pay you for the depreciated amount of the item, which may not be enough for you to actually replace the item.

Q: How much should I insure my mobile home for?
A: If you choose replacement cost coverage, then your manufactured home must be insured for 100% of the cost to replace it with a new home of equal quality. If you choose actual cash value, then your coverage should be enough to replace it with a home of the same age and condition.

Q: Can my home be insured for more than I paid for it?
A: Yes.

Q: Does my standard policy cover personal belongings?
A: Your possessions are protected from the same causes of loss as your home itself. The settlement is for the actual cash value, as long as it does not exceed the limits in your policy. You can upgrade your policy to replacement cost coverage. You can also schedule selected higher priced items for increased coverage.

Q: What kind of personal property should I schedule?
A: You should schedule any higher priced items that would go beyond the limits described in your policy. These could include furs, coins and other valuable collections, cameras, firearms, jewelry, art, computers, silverware, etc.

Q: If I am renting the mobile home I live in, can I insure my personal belongings?
A: Yes. The policy your landlord buys to protect the structure does not cover your belongings. Renters Insurance covers your personal belongings and provides liability coverage.

Q: Can I insure my manufactured home if we only use it for vacation?
A: Yes. A seasonal home policy is designed for any home that you use on a seasonal basis for less than five months in a row during the year.

Q: Can I get coverage for earthquake?
A: Yes. See Earthquake Insurance coverage.