Home & Property > Manufactured Home > FAQ
What is replacement cost coverage? Actual Cash Value?
How much should I insure my mobile home for?
Can my home be insured for more than I paid for it?
Does my standard policy cover personal belongings?
What kind of personal property should I schedule?
If I am renting the mobile home I live in, can I insure my personal belongings?
Can I insure my manufactured home if we only use it for vacations?
Can I get coverage for earthquakes?
Are my appliances, heating, and air conditioning covered?
You are probably aware that many items depreciate in value over time. When an insurance policy provides replacement cost coverage, claim settlements for a covered loss do not subtract any amount for depreciation. If a policy provides actual cash value coverage, claim settlements will take depreciation into account.
Replacement cost coverage generally will provide you with a claim settlement that allows you to purchase another item of like kind and quality. Actual cash value coverage will pay you for the depreciated amount of the item, which may not be enough for you to actually replace the item. Talk to your agent about which coverage type best fits your needs and situation.
You should discuss this with your agent. If you choose replacement cost coverage, then your manufactured home must be insured for 100% of the cost to replace it with a new home of equal quality. If you choose actual cash value, then your coverage should be enough to replace it with a home of the same age and condition.
Yes.
Your possessions are protected from the same causes of loss as your home itself. The settlement is for the actual cash value, as long as it does not exceed the limits in your policy. You can upgrade your policy to replacement cost coverage. You can also schedule selected higher priced items for increased coverage.
You should schedule any higher priced items that would go beyond the limits described in your policy. These could include furs, coins and other valuable collections, cameras, firearms, jewelry, art, computers, silverware, etc.
Yes. The policy your landlord buys to protect the structure does not cover your belongings. Our renters insurance covers your personal belongings and provides liability coverage.
Yes. Our seasonal home policy is designed for any home that you use on a seasonal basis for less than five months in a row during the year.
In most states, yes. Talk with your agent to find out details.
Policies from most insurance carrierscover your appliances and HVAC only if they are damaged by a covered peril. Our policy offers breakdown protection which covers these same items if they simply stop working. That can save you a lot of money for an unexpected repair or replacement. You pay just the deductible. Learn more.
American Modern provides manufactured home insurance quotes on all kinds of mobile homes.
Call 1 866-884-6167 Monday through Friday, 8am to 8pm ET. Or request your mobile home insurance quote online
Products, coverages and discounts are not available to all persons, in all states or apply to all possible risks. Terms, conditions and exclusions may apply. Rates are derived from a number of factors, which can influence the price, discounts and savings. Your rate may be higher or lower. Policies are subject to underwriting review and approval. Rates are subject to change. Policies are written by one of the companies of American Modern Insurance Group, which includes American Modern Home Insurance Company and American Family Home Insurance Company.
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