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Manufactured Home Insurance Growing In Popularity

By Mike Heuer


There was time when mobile homes were not regarded highly among homeowners, and for good reason. The relatively flimsy structures were not durable and had no foundation, unlike a traditional wooden, brick or mortar-built home. But the advent of the manufactured home has overtaken the mobile home market and produces many well-built structures that can be placed on foundations while remaining easy to transport.

With manufactured housing growing in quality, affordability and popularity, so is the demand for manufactured home insurance plans. Manufactured homes are built in accordance with federal regulations as established by the U.S. Dept. of Housing and Urban Development. Those regulations require manufactured homes to be built on a permanent chassis. More traditional mobile homes, by contrast, are built to state and local codes and not federal guidelines.

That makes manufactured homes eligible for federal housing administration loans and, therefore, make them more attractive for home buyers. While many are located in manufactured housing parks, they also can be located on private lots and can be constructed much larger than traditional mobile homes. Many manufactured homes resemble stick-built homes and do not come with the stigma mobile homes have had over the decades.

Manufactured homes built in recent years benefit greatly from improvements in the manufacturing process, materials being used and economies of scale that make them much better quality than even a decade ago and for relatively low sales prices when compared to traditional home structures. Manufactured homes can be customized for individual tastes and needs. And the improvements in construction quality greatly increase their resale value and ability to obtain financing and truly beneficial manufactured home insurance policies.

Manufactured home insurance plans are more specialized than traditional homeowners insurance plans. They typically provide coverage transportation from the manufacturer’s site to the home site, home and other structure coverage, personal property insurance, liability insurance and medical payments for guests who might be injured while in the home.

People who own manufactured homes generally are spread out somewhat evenly among age demographics. About 18 percent of heads of households in manufactured homes are between ages 30 and 39 while 24 percent are between ages 40 and 49. The largest demographic block is people age 50 to 59, who account for 26 percent of heads of households in manufactured homes. Those between ages 60 and 69 comprise 18 percent of heads of households. Another 7 percent are under age 30 while another 7 percent are age 70 and over.

Most people who own manufactured homes have full-time jobs with 57 percent of manufactured home owners falling in that category. The next largest segment is comprised of retirees, who own about 23 percent of manufactured homes. That means the vast majority of manufacturer homeowners are responsible people who have or held jobs and careers and make for good risks in the eyes of home insurers.

As with traditional homeowners insurance plans, there are discounts available when purchasing a manufacture home insurance plan, such as when bundling coverages, installing protective systems, like alarms and sprinklers, and other incentives that can vary by insurer.

One comment

As a Canadian, you right winged Americans floor me being the only 1st world cturony that does not tend to the health and well-being of its citizens. Don`t even get me started on the right winged propaganda that is shoved down your throats about how our Canadian health care system is apparently broken and flawed . Newsflash folks it works extremely well for us. You don`t see individual Canadians going bankrupt or in massive debt because they can`t pay their medical bills and EVERYONE gets medical care no, there are no waiting lines, we choose our on doctors etc .But yet you think nothing of spending trillions upon trillions of dollars on war in far away lands ..Go figure. America sure does have its priorities straight now doesn`t it folks!!References :

by Mary on April 14, 2014 at 3:43 am. Reply #

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