mobile home insurance

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PostPosted: Sat Jan 12, 2008 6:58 pm   Post subject: mobile home insurance  

Is mobile home insurance more expensive than say insurance on a regular home. I just moved my double-wide onto a full foundation and need to update my insurance company. I think at some point I remember something about insurance on mobile home being more expensive.

fireyone
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fireyone

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PostPosted: Sat Jan 12, 2008 7:10 pm   Post subject: mobile home insurance  

Hi fireyone,



Quote:
Is mobile home insurance more expensive than say insurance on a regular home.




My personal experience is that mobile home insurance usually is more expensive than a traditional "stick built" home.



There are two main reasons for this:

(1) There are fewer insurance companies writing mobile home insurance.

(2) The increased exposure to risk.



This would also depend on the "Protection Class" of the property. Insurance on a traditional home that is 15 miles from the nearest responding fire department might be a lot more expensive than insurance on a mobile home in a gated park in the city.



I guess the answer really would be - "It all depends."


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InsuranceMaze
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PostPosted: Sun Jan 13, 2008 1:21 am   Post subject:   

I live in a double wide, my homeowners is not too awfully expensive, think it runs about $500 a year, I would have to double check, I have it in with my escrow, but I have total replacement insurance on the home and everything. I don't think it is much higher, Pretty sure it is around $500 a year. See what some other people say here and if you want I can dig it out and look.

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PostPosted: Sun Jan 13, 2008 2:40 am   Post subject: mobile ins.  

thats about what my insurance runs. I thought though once you make it "unmobile' it goes down. I have that same replacement policy...pay about 430 yearly. Just thought maybe could save a little cash flow from that angle. Hoping to call insurance comp[any this week and check it out but I want to wait until the other porch is on (Mud out there right now...sink knee deep) just in case they would have to pop in. they say no porches, no insurance.

fireyone
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PostPosted: Mon Jan 14, 2008 11:49 pm   Post subject:   

that is not bad for replacement insurance, if you think about what it would cost you to replace everything. You think about what you pay for car insurance this is pretty cheap for your entire home.

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PostPosted: Wed Jan 16, 2008 10:28 pm   Post subject: insurance  

I didn't think that was bad either. I had to up my inurance for the bank to consolidate my loans. Did that today. Got the value on my home. Came in at $117,000. That upped my spirits. Guess all this aggravation was worth it. Payment is very do-able (692). Beats the amount we was paying before. Hopefully everything is working itself out now so I can enjoy life and calm down. It's been a really long road...and I need some rest now. talk to ya soon

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PostPosted: Sat Jan 19, 2008 7:22 pm   Post subject:   

fire insurance on mobile homes is always higher mostly due to they are made cheap and are a higher risk for fire. also they depreciate quicker some companies will give you more insurance than your covered for because if you do have a fire they depreciate your policy according to the age of your trailor you need to ask these questions when you apply make sure what you will actually get in case of a fire. check the fine print. your not allowed heating stoves in them either or your policy will be void in case of a fire check all this out before you apply.

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PostPosted: Sun Jan 20, 2008 2:36 am   Post subject:   

I would not use electric anyway, too darn expensive. I see your point dadummy, it does make sense that they would go up quicker, but I think some of the double wides these days are built pretty sturdy, like a house, you can order them to speck when you buy them new. Ours has the 2x6 studs in the outside walls, so it is not your typical mobile home.

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PostPosted: Thu Feb 14, 2008 1:52 am   Post subject: mobile home  

I know what ya mean erb. I live in one and it is really sturdy built. They changed the codes a few years ago on these types of homes. It really surprises many people the low cost of heating with as well insulated as they are. I see alot more people have been going this way. Now that this is on a foundation my insurance has dropped, guess it stops the depreciation thing.

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PostPosted: Thu Feb 14, 2008 3:03 am   Post subject:   

That is good, some of them are really beautiful, they are like an instant home, I have seen some that people do a little extra work on like decking and stuff and they don't look like your old time mobile home.

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PostPosted: Thu Feb 14, 2008 12:15 pm   Post subject:   

Don't forget guys mobile and modular homes are totally different, a modular is looked at pretty much like a stick home. btw I'll make you all feel better my stinkin' homeowners ins is little over 1200 a year! yep 100 bucks a month! and I'm in a perfect fire protection class, every discount possible etc.... Evil or Very MadTwisted Evil



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PostPosted: Thu Feb 14, 2008 1:26 pm   Post subject:   

Mine isn't too bad, I think it runs a little less than $600 a year also, It isn't something that I visit often, it is all in my escrow. I have total replacement on everything as well.

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PostPosted: Fri Feb 15, 2008 2:47 am   Post subject:   

Mine runs about a little under $500. I have the totl replacement thing too. I don't mind it really. The peace of mind from knowing your covered is better than fretting the what if's.

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PostPosted: Fri Feb 15, 2008 5:56 pm   Post subject:   

I don't think that is too awful bad for a year fireyone. Does that include content and property also?

Do you keep an inventory of your personal items just in case something should happen? If not, your insurance company should be able to provide you with an inventory sheet that would make it much easier on you. You should ask them for one and do a personal inventory.

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PostPosted: Fri Feb 15, 2008 10:14 pm   Post subject:   

Yeah it contains all of the above. Must admit I did get the top insurance for my home but like they say home is where you hang your heart. I did have an inventory list before I moved but I'm sure it needs to be updated since I haven't done it in years. I'm really glad you reminded me of that. I hate the thoughts of even thinking about a fire or having to go through anything like that. I just moved back into my own home after living with my sister for 5 weeks while they were setting this one up. Now I know where that old saying comes from "Theres no place like home". Well keep ion touch

fireyone
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