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The Difference Between Modular and Manufactured Home Insurance

Modular, manufactured, and mobile homes are sometimes mixed up in terms of how they are made and how they are set in place. The key is to understand the different elements of each one. All of them are similar but have subtleties that make them unique. All three types of homes are assembled to some degree in a facility and then transported to their final destination. The biggest difference between the three is that a modular home is the only one that can’t be moved or relocated once it is set in place.

What Is a Modular Home and What Is a Manufactured Home?

Modular homes are built in sections at an off-site location. The sections are then transported to the new home’s location and put together on top of a basement, crawlspace, or foundation. Modular homes can have one or two stories and, once assembled, look like a conventionally built home built on a permanent foundation. On the other hand, a manufactured home is also constructed in a factory. A manufactured home is built on a chassis that can be moved from one location to another. However, most stay in the same location because of the high transportation costs. There is no foundation or slab to build on. They can be purchased in several lengths and widths.

What Is a Mobile Home and How Is It Different from a Manufactured Home?

Although a mobile home is a manufactured home, it is still somewhat different. They are both built on movable chassis, but the biggest difference has to do with when they were actually built. Mobile homes are factory-built homes that were built prior to June 15, 1976. Any home built in this manner after that date is considered to be a manufactured home.

The Basics of Modular Home Insurance

Since a modular home is built on a solid foundation, most insurance companies will not treat it any differently than a traditional home. You will still want to purchase dwelling coverage, liability coverage, and personal property coverage. These three types of coverage are the same as what other homeowners would purchase to protect their conventionally built homes. If you are trying to insure a mobile home or manufactured home, you will need to purchase a special homeowners’ policy that covers those types of homes.

Which Factors to Consider When Determining the Cost of Home Insurance?

There are many factors to consider when trying to determine the cost of your homeowners’ insurance policy. The age and condition of your home are key factors. You will also have to factor in the cost of your belongings, repair or replacement costs, and any security features you have installed in your home to make sure you have as much protection as possible.

Manufactured, modular, and mobile homes are made much better than two or three decades ago. This is why insuring them is so much easier than it was in the past. Call our insurance professionals at the Advanced Insurance Group today to determine how to insure your modular or manufactured home. Get the peace of mind you need with a policy you can trust. Call our office to get your personalized home insurance plan within your specified budget today!

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