- Foremost, American Modern and Allstate are the best insurance companies for older mobile homes.
- The price of insurance for older mobile homes tends to be higher, per amount of coverage, than it is for newer models.
- Mobile home insurance is not required by law, but lenders typically require it for a mortgage. Mobile home communities also often require it, regardless of your mortgage status.
Getting insurance for an older mobile home can be hard. Many insurers consider older mobile homes to be riskier to cover than manufactured homes due to age and the lack of regulations. If you have a mobile home built before 1976, or are considering buying one, read on for tips on how to get it properly insured.
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Which insurance companies are best for older mobile homes?
Foremost, American Modern and Allstate are the best insurance companies for older mobile homes.
Foremost has been insuring mobile homes for nearly 70 years and insures mobile and manufactured homes of any age. Foremost also lets you customize your coverage with optional endorsements that range from hobby farm liability to replacement cost upgrades for your personal property.
Optional endorsements allow you to mold your coverage to your needs.
Offers various discounts that can save you money.
Does not offer auto insurance for bundling.
A mobile home insurance provider since 1965, American Modern insures mobile homes of any age. It also insures mobile and manufactured homes that are vacant, occupied on a seasonal basis or used as a rental property.
A+ rating for financial security from AM Best.
You can file claims through the company's mobile app.
Basic mobile home coverage is named-peril only.
Allstate extends many of its standard homeowners policy features to manufactured and mobile homes. For example, you can typically get a discount for bundling your mobile home policy with your car insurance or any other Allstate policy you may have.
Offers multiple discounts that can lower your premium.
You can add identity theft restoration and water backup coverage to your policy.
Does not include additional living expenses coverage.
Other insurance companies to consider for an older mobile home
You may also be able to find insurance for an older mobile home from a regional company, depending on where you live.
Kin offers insurance for older mobile homes in Florida and Louisiana, for example. In Florida, older mobile homes may qualify for coverage from Citizens as well.
Mobile homes vs. manufactured homes
Mobile homes built before 1976, when the Department of Housing and Urban Development established national construction standards for them, tend to be the most difficult to insure due to their lack of regulations.
Homes built in 1976 or later are built to HUD standards and technically known as "manufactured homes." Furthermore, older mobile homes are generally seen as being more susceptible to fire and weather damage than newer models.
Some home insurers avoid mobile and manufactured homes altogether. Some only insure manufactured homes. Others only cover manufactured homes built within the past two decades.
Companies that do insure older mobile homes usually make them pass an inspection showing that their electrical and plumbing systems, roof and HVAC are in good condition.
If you plan to purchase an older mobile home, consider getting an insurance quote before you make an offer. It's always best to get quotes from multiple companies when you shop.
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How much does it cost to insure an older mobile home?
The price of insurance for older mobile homes tends to be higher, per amount of coverage, than it is for newer models.
For example, insurance for a $60,000 mobile home built in 1970 is likely to cost more than a policy with the same coverage for a mobile home built in 2000.
The average price of insurance for mobile homes, new and old, ranges from $500 to $1,500. What you pay for mobile home insurance depends on a combination of rate factors, including:
- Your home's age and construction features
- Your location, including weather risks and crime rates in your area
- Your insurance history
- Your credit history, except in states that prohibit credit scoring
- Any discounts you may qualify to receive
Since companies weigh these factors differently and offer different discounts, you may qualify for a much lower rate with one company than you do with others.
What does mobile home insurance cover?
Like insurance for traditional site-built homes, standard mobile home insurance is often offered as a package that provides coverage for:
- Your dwelling, or home, for damage from a fire and other perils such as wind, hail, lightning, falling objects, burglary and vandalism.
- Other structures on your property, like a detached garage or shed, sometimes included as part of your dwelling coverage.
- Your personal property or belongings.
- Loss of use, for temporary living expenses if a covered peril leaves your home uninhabitable during repairs.
- Personal liability for injuries or property damage you accidentally cause to others, at home or away from your property.
- Medical protection for guests injured while visiting your property.
What's not covered by mobile home insurance?
Standard mobile home insurance policies do not cover flood or earthquake damage. However, you can buy separate flood and earthquake policies to protect your home.
You may be required to buy flood insurance if you have a mortgage for your mobile home and live in a high-risk flood zone.
Mobile home insurance also doesn't cover typical wear and tear.
How much insurance do I need for an older mobile home?
Mobile home insurance is not required by law, but most lenders require it for a mortgage. Mobile home communities often require it, too, regardless of your mortgage status.
A standard mobile home insurance policy covers your home at its actual cash value, which is the present value of your home after depreciation.
If you have a mortgage, your lender is likely to require you to insure your home at replacement cost. A home's replacement cost value is the estimated price of replacing it with a new one with the same specifications and quality grade, with no deduction for depreciation.
If you don't have a mortgage, you may be able to insure an older mobile home at its stated value. This is an amount you and the insurance company agree upon. A stated value policy can save you money on premiums, but it also leaves you with less insurance money after a disaster.
For example, you may be able to reduce your rate by insuring your $60,000 mobile home for a stated value of $40,000. If the home burns down, though, you get $20,000 less from the insurance company than you would if you insured the home at its actual cash value.
How do I know how old my mobile home is?
If you own a mobile home built in 1976 or later, or are considering buying one, you can find its age on its HUD-required data plate. This letter-sized label should be attached to a kitchen cabinet, electrical panel or bedroom closet.
The data plate shows the date the home was built and other vital information. It's different from the certification label that HUD requires manufacturers to attach to the outside of homes.
If the home was built before 1976, you may have to retrieve sales records to find its age. However, if the mobile home remains at its original location, your county assessor's records may also include information about the home's age.
How do I get insurance quotes for an older mobile home?
With fewer companies to choose from, it takes a little more effort to get insurance quotes for an older mobile or manufactured home than it does for other types of homes.
You can request a quote directly from Allstate and Foremost, online or by phone.
American Modern's website provides a list of independent agents in your area whom you can contact for a quote, by email or phone.
You can also ask an insurance agent from most other companies in your area for help. Even if an agent does not work directly for a company that insures older mobile homes, they may be able to get you a quote from a company that does.
For example, when you request an insurance quote for an older mobile home from a Farmers agent, they typically provide an estimate from Foremost, which is owned by Farmers. Foremost also provides mobile and manufactured home insurance for USAA.
Regardless of your home's age, you typically have the best chances of qualifying for coverage and better rates when your mobile home meets the following criteria:
- It is properly anchored or tied down
- The foundation is skirted or fully enclosed
- You have handrails next to staircases with three or more steps
- Your home and property appear neat and well maintained
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