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Cost of Mobile Home Insurance in Texas

In Texas, the average cost of mobile home insurance is between $500 and $1,900 annually. Mobile homes are more vulnerable to unforeseen perils than conventional homes. As a result, mobile home insurance is more expensive than homeowners insurance.

The following are some of the factors that influence the cost of mobile home insurance in Texas:

The size of the mobile home - Mobile homes are in three sizes:

Single wide

Double wide

Triple wide

Although the size of a mobile home alone does not influence the cost of mobile home insurance in Texas, it significantly affects mobile home insurance cost. Home insurance for a single wide mobile home may cost between $300 and $1,200 annually while it may cost between $800 and $2,700 annually for a triple wide mobile home

  • The age of the mobile home - The older a mobile home, the more expensive it becomes to insure. Mobile homes of the same size built at different times will likely have varying mobile home insurance costs. It may even be difficult to find a policy that will cover older mobile homes, especially the ones built before June 15, 1976. Older mobile homes have higher home insurance costs than new ones.

  • The value of the personal belongings of the mobile homeowner and their household members - The value of personal properties you want your mobile home insurance to cover also influences its cost. The higher the value of personal belongings, the higher the personal property coverage needed, and the higher the cost of maintaining the policy.

  • The amount of personal liability coverage - The amount of personal liability coverage which caters for medical expenses and legal fees in your mobile home insurance affects its cost. For instance, the cost of mobile home insurance with $100,000 liability coverage, considering other factors, may not be as expensive as a policy with $250,000 liability coverage.

  • The location of the mobile home - The location of your mobile home can determine how much you pay for mobile home insurance. If your mobile home is on the Gulf Coast, there is a tendency that you will pay more for it than if it were in another location with fewer risks. Mobile homeowners in areas with high crime rates and other risks tend to pay more to keep their mobile home insurance policies active.

There are steps you can take to reduce your mobile insurance cost. You can save money on your mobile home insurance in Texas by:

  • Bundling your mobile home insurance with auto insurance

When you bundle your mobile home insurance with auto insurance, you can be considered for some insurance discount. This discount can be up to 10% off the cost of your mobile home insurance coverage.

  • Having multiple insurance policies with the same insurer

If you have different insurance coverages from the same insurer, your insurer may consider you for a multi policy discount when you want to purchase mobile home coverage. This discount reduces the amount you pay for your mobile home insurance.

  • Staying with the same insurer for some years

Some insurers may consider you for some discount because you have been a policyholder with them for a number of years. They use this discount to appreciate the patronage of their long-term policyholders. Qualifying for this discount will lower your mobile home insurance cost.

Making use of a knowledgeable Texas-licensed property insurance agent, especially independent property insurance agent, is very beneficial here. Agents know how to help you negotiate for discounts either by using the power of the number of policyholders they have brought or their business relationship with insurers.

How Much Mobile Home Coverage Do I Need?

In Texas, the best mobile home coverage you need is the one that will be enough to:

  • Replace your mobile home and personal belongings in case they are totally destroyed by any insured perils

  • Settle any personal liability claims you may face

  • Cover your additional living expenses because your mobile home is under repair and you have to look for temporary living space such as short-term rentals

To determine how much coverage of mobile home insurance you need, you need to establish the value of your mobile home, personal belongings, daily expenses, and the amount of liability coverage you want. A knowledgeable Texas-licensed insurance agent who sells residential property insurance policies can help you determine the amount of mobile home coverage that fits your needs.

What Raises and Lowers your Mobile Home Insurance?

In Texas, what raises and lowers your mobile home insurance include:

  • The amount of coverage you want
  • The age of your mobile home
  • The location of your mobile home

Other factors that can raise and lower your mobile home insurance in Texas are:

  • Your maintenance culture - How well you maintain your mobile home can raise or lower your mobile home insurance. Insurance companies that sell mobile home insurance can look at some facilities such as the anti-theft alarm system and the fire alarm that you have put in place to offer you some insurance discounts that will reduce its cost. Maintaining your mobile home very well may fetch you some discounts and lower the cost while not keeping your mobile home in good shape may force your insurer to increase your premiums. Some property insurance companies in Texas may not even renew your policy if your mobile home is considered high risk because of your poor maintenance culture.

  • Your deductible - The amount you agree to pay out of pocket before your insurer kicks in whenever there is a claim can either raise or lower the cost of your mobile home insurance. If you decide to pay $1,500 as deductible whenever there is a claim, the amount you pay for mobile home insurance will be lower than if your deductible were to be $1,000. The cost of your mobile home insurance will even go lower if you decide to increase your deductible to $2,000.

The coverage type you want for your mobile home and personal belongings - There are two coverage types for mobile homes and personal belongings:

  • Replacement cost coverage

  • Actual cash value coverage

Replacement cost coverage and actual cash value coverage have different coverage levels. If you opt for replacement cost coverage, your insurer pays the exact amount it will cost to replace your stolen or damaged personal belongings and your completely damaged mobile home. For actual cash value coverage, your insurer will deduct the depreciation value from your insured properties and pay you their present cash value. If your coverage type is replacement cost, your mobile home insurance will be more expensive than if it were an actual cost value coverage.