What Are the Best Mobile Home and Manufactured Home Insurance Companies?
According to Lending Tree, Foremost, American Modern and Assurant stand out as the best manufactured home insurance companies for both older mobile homes and newer manufactured homes. Here’s why:
A subsidiary of Farmers Insurance, Foremost was the first insurance company to cover prefabricated homes. Founded in 1952, the company provides coverage for both mobile and manufactured homes, regardless of age
Foremost offers what’s known as “open-peril” coverage. This means your policy covers any peril unless it is specifically excluded in writing. It also offers an upgrade from actual cash payout to replacement cost, also known as “stated value loss settlement.” Replacement cost coverage pays out what it costs to get you an equal-value mobile home without depreciation. Foremost offers a mold coverage option,too, which is rare in the industry.
If you are an AARP member, you may qualify for the AARP Mobile Home Insurance Program through Foremost. On top of comprehensive coverage competitive with other insurers, the AARP program offers a variety of extras, including:
- Additional living expenses coverage (not usually part of a Foremost standard policy)
- Debris removal
- Identification theft
- Food spoilage coverage
- Locksmith coverage
American Modern has sold insurance for both mobile and manufactured homes since 1965. It covers rental, seasonal and vacant mobile homes as well. Like Foremost, American Modern offers open-peril coverage.
American Modern offers many add-on coverage options, including:
- Water backup
- Scheduled personal property coverage for expensive belongings like jewelry or art
- Service line excavation and repair
- Earthquake insurance
Assurant, a Fortune 500 company, covers both mobile and manufactured homes. It offers comprehensive dwelling, personal property, liability and loss of use coverage stated value.
Assurant’s use of technology helps it stand out from its competitors. Its mobile app makes it easy to find policy info and file a claim. The company’s online account manager helps yoy access your account info, track claims and access your policy, too. Assuant also offers a robust virtual resource center online, with good online quote calculator and educational resources to help you understand your coverage.
