How to Find the Best Manufactured Home Insurance in Texas
If you’re a Texas homeowner with a manufactured home, ensuring your investment is adequately protected is essential. But choosing the right manufactured home insurance can be daunting – after all, there are so many providers and policies out there! Don’t stress, though – we’ve covered everything for you here! We’ll give you an in-depth look at finding the best coverage for Texans like yourself. Get ready to breathe easy, knowing that your valuable assets have been safeguarded against any potential hiccups down the road.
Manufactured Home and Manufactured Home Insurance
Manufactured homes are a great way to quickly and flexibly enter the housing market. Often referred to as mobile homes, these structures offer all the modern comforts you’d expect from traditional home construction – but with one significant difference: they’re built in factories and then transported on steel frames with axles and wheels. They may not be ideal for city living, but they are a great choice if you’ve ever dreamed about getting out of town or finding an affordable place in rural or suburban areas.
Owning a manufactured home is becoming increasingly popular, with over 22 million people in the U.S. calling one their own. A recent survey found that only 41% of these mobile homeowners have comprehensive insurance coverage to protect them from severe financial losses caused by unforeseen events like fires or theft – leaving nearly 60% at serious risk!
If you own a mobile home, take your time with your investment. Ensure you’re adequately insured with a comprehensive manufactured homeowners’ policy, so your abode has all the protection needed for your peace of mind.
Average Cost of Manufactured Home Insurance in Texas 2023
Mobile Home Insurance usually is more expensive than homeowners’ insurance policies. Mobile home policies, on average, range between $300 to $1200 annually. A wide range of factors can influence your costs, though.
Some of the factors affecting the cost of your manufactured home insurance are:
Age of your Home: Homes that have been around awhile could be at greater risk of damage due to systems and components being in desperate need of an upgrade. So, if you’re still living in an old, manufactured home, you can be charged extra by your insurer.
Location: It’s essential to consider the location of your mobile home – not only for a great view but also for its potential insurance costs. Depending on where you settle down, living in certain areas can mean shelling out more cash due to natural disasters like hurricanes or twisters.
Value of your Home: Homes with a higher worth tend to have premiums that reflect their elevated costs, so keep an eye out for those numbers when you shop around!
Coverage Type: When choosing your insurance coverage, you’ll want to consider what’s right for you and how much it will cost! Adding extra coverage like flood or earthquake can increase the premiums, but it may be worth it in certain situations.
Deductibles: Ready to save on insurance premiums? Here’s a tip: up your deductible. By doing this, you’re taking more financial responsibility upfront, which can mean less out-of-pocket money on each installment.
Type of Insurer: Different insurance providers may offer different rates and discounts, so shopping around and comparing quotes from multiple companies is essential.
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Manufactured Home Insurance Coverage
Mobile homeowners’ insurance typically covers all the injuries and events most homeowners’ policies cover. To be specific, these are the coverages that standard policies provide:
Personal Property Damage: Got some prized possessions? This coverage ensures your particular items, from furniture to appliances inside your home, stay safe and sound.
Damage to your Home Structure: This coverage is like a protective shield for your home, protecting you against disasters such as fire, lightning strikes, high winds, and vicious hail.
Liability Protection: Legal liability can be a scary thought, but with this coverage, you can rest assured knowing that if someone gets hurt while visiting your property, you are covered!
Additional Living Expenses: If your home is damaged and you need to find somewhere else for a bit, this coverage will help cover the costs of keeping up with life. Think hotels and meals – it’s taken care of!
Optional Coverages: Looking to give yourself some extra protection? You can level up your game with additional coverage for those special events and items — like flood insurance and jewelry!
Coverages Not Provided by Your Manufactured Home Insurance
You now know about a standard manufactured home insurance policy’s range. But what does this coverage provide? Have a look here below!
Damages due to natural disasters like earthquakes and flood
Anything that happens to your home during the transportation phase.
Damages caused by criminal activities or intentionally.
Precious items like jewelry or collectibles
Make sure to give your mobile home insurance policy a thorough read-through – it’s the best way to be 100% confident that you and your valuables are protected. Your Texas residence is valuable, so don’t skimp on coverage – choose an insurer with long-lasting protection for those unexpected curveballs life throws at us!
Best Manufactured Home Insurance Companies in 2023
There are tons of manufactured home insurance companies that write policies in Texas. In this list, we have compiled five of the best ones that have earned a solid reputation due to their expertise, coverage options, services available, resources, and customer service.
Allstate Insurance
Allstate is one of the largest insurers in the country. Established in 1931, this company has a vast network of local agents and unique financial resources. Allstate also allows you to customize your policy to fit your needs and budget.
Regarding mobile home insurance, Allstate has individual policies like property protection for damage to satellite dish antennas and mine subsidence coverage. Some other coverages offered by Allstate are:
Dwelling coverage
Personal coverage
Other structures
Guest medical protection
Liability protection
Other structures
Why Choose Allstate?
Up to 5% discount for original titleholders of mobile homes
Available in all 50 states
A+ AM Best financial rating
Wide variety of insurance coverage options
Offers a claim satisfaction guarantee in certain states
Has a mobile app
Discounts for bundling your policies
Discounts are also available for retirees and for those who sign up for automatic payments
Read our detailed review of Allstate here.
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Progressive Insurance
Progressive is known for its innovative approach to insurance, such as providing usage-based car insurance and allowing customers to compare rates from multiple providers on their website. The company has a solid financial stability rating and a reputation for providing excellent customer service. With a wide range of coverage options and competitive pricing, Progressive is a popular choice for many insurance shoppers.
Progressive offers the following coverage for mobile homeowners:
Dwelling coverage
Personal property coverage
Personal liability coverage
Loss of use coverage
Replacement cost coverage
Trip collision coverage
Single deductible benefit coverage
Why Choose Progressive?
A+ AM Best financial strength rating
Special discounts for new homeowners
Mobile app available
Offers multiple payment plans to customers
Provides a replacement cost option
Comprehensive coverage options
Excellent customer service
Read our detailed review of Progressive here
State Farm Insurance
Since 1922, State Farm has been providing much-needed protection to customers. Last year alone, they wrote an impressive $46.6 billion in private passenger auto insurance premiums – capturing 16.8% of the total market share!
For mobile homeowners, State Farm has many helpful online resources, such as the 360Value tool that estimates the replacement cost of your house and even prefills your application based on its coverage recommendation.
State Farm provides the following types of coverage for mobile homeowners:
Dwelling coverage
Personal property coverage
Loss of use coverage
Additional living expense
Fair rental value
Liability coverage
Medical payments coverage
Why Choose State Farm?
Largest home insurance provider in the U.S.
Has local agents in almost 400 cities across Texas
Standard policies include extra protection for personal property
Competitive pricing and unique discounts
A long list of coverage options
Very few complaints about home insurance
On average, 23% savings if you bundle home and auto insurance
Read our detailed review of State Farm here
USAA Insurance
USAA Insurance provides top-notch financial services to military members and their families. It all started in 1922 when a group of Army officers couldn’t find reliable insurance options. Fast forward to today, and USAA is one of the most prominent and respected insurance companies in the USA.
USAA provides the following types of coverage for mobile homeowners:
Accidental loss coverage
Liability coverage
Personal belongings
Dwelling coverage
Additional living expenses
Extra protection
Why Choose USAA?
Online chat available for customers
Provides multi-policy bundling discounts
Strong reputation for customer service and support
Offers comprehensive coverage options
Provides a range of discounts and benefits to military members and their families
Has a range of online tools and resources to manage your insurance policy and file claims
They have been providing insurance and financial services for almost a century, so they are well known for their expertise in providing insurance.
Read our detailed review of USAA here
American Family Insurance
American Family Insurance has been around for almost a century. Herman Wittwer founded the company in 1927 and started by providing auto insurance to farmers in Wisconsin. Today, they cover everything from home and auto insurance to life, health, and business insurance.
American Family Insurance provides the following types of coverage for mobile homeowners:
Property coverage
Personal property coverage
Liability coverage
Additional living expenses coverage
Loss of use coverage
Medical payments coverage
Equipment breakdown coverage
Optional coverage (Such as identity theft protection, water backup, and sump overflow coverage)
Why Choose American Family Insurance?
Provides online quotes and online claim processing options
Has a high customer satisfaction rating in J.D. Power Rating (842/1000)
An (Excellent) AM Best financial strength rating
Offers a wide range of discounts
Has a mobile app to track your claim’s status
Offers additional coverage for any damages to your home during transportation
Offers customizable coverage options that can be tailored to your needs
Has a vast network of local agents
Provides 24/7 claims support
Read our detailed review of American Family Insurance here
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Differences Between Modular, Mobile and Manufactured Home
Mobile or manufactured homes are the same, just two synonyms used to represent similar housing structures. Modular homes, however, are a little different. Even though modular homes are prefabricated homes just like the other two, they differ in their building codes, construction methods, mobility, foundations, resale values, and customization options.
Basis of Difference Modular Homes Mobile or Manufactured Homes Building Codes Built to state and local building codes Built to Federal Housing and Urban Development code ConstructionBuilt in sections or modules in a factory, then transported to the site where they are assembled Built entirely in the factory and transported to the site as a whole MobilityDesigned to be mobile and can be moved from one location to another, Not designed to be moved once they are assembled. FoundationsPlaced on permanent foundations Can be placed on either permanent or temporary foundations. Resale ValueHigher resale value as they are built to the same building codes as site-built homes Comparatively less resale value CustomizationHighly customizable Less customizations possible
Conclusion
If you live in Texas and own a mobile home, get your insurance policy immediately. Without such a policy, you will expose yourself to many risks and dangers in the cowboy state.
Finding a mobile homeowners insurance policy that’s just right for you can be daunting. But with the help of all this adequate information, you will be much better prepared to make the decision.
Working with an expert agent can also help you select your insurance policy. If you are already associated with an agent, that’s great! And if you are looking for an insurance agent to get manufactured home insurance, we are here to help.
Frequently Asked Questions
Is homeowners’ insurance on a manufactured home mandatory in Texas?
Legally speaking, manufactured home insurance is not required in Texas. However, many mobile homeowners prefer getting one for safety, protection, and peace of mind.
Do you have to pay property tax on a manufactured home in Texas?
Yes, manufactured homeowners must pay sales tax whether they get a new or pre-owned mobile home. It is also worth noting that mobile homes that are declared personal property are taxed separately from the land.
Why is homeowners’ insurance so expensive in Texas?
Texas is the second most expensive state regarding homeowners’ insurance (the first being Oklahoma). Here are some reasons behind the high costs:
Prone to several disasters like hurricanes, tornadoes, and hailstorms
Second-most populous state in the US. As there are more homes to insure, insurance rates can drive up
Higher incidence of lawsuits related to property damage and liability claims
Construction costs are higher than the national average
Highly competitive insurance market in Texas
