How much does Mobile Home Insurance Cost in Missouri?
The average reported mobile home insurance cost in Missouri varies by source but generally runs between $900 to $2000. Actual pricing varies depending on the size and location of your home along with other factors.
What Are The Key Parts of Mobile Home Insurance
Dwelling — This section of your policy pertains to your Mobile home. The cost to rebuild your home may change over time, influenced by variations in the prices of raw materials and labor needed for reconstruction.
Other Structures — This nearly covers all structures on your property that are not permanently affixed to your home. This includes items such as fences, driveways, sidewalks, and detached buildings like sheds and garages. Additionally, this coverage amounts to 10% of your Dwelling limit, with the option to increase it if desired.
Personal Property — This covers belongings like clothing, furniture, electronics, and appliances. Basically anything that would fall out of your house if you turned it upside down and shook out the contents.
Loss of Use — This can give coverage for temporary extra expenses you may have because your insured home is unlivable after a loss your policy covers.
Medical Expense —This can provide limited medical expense coverage for guest who gets injured on your property. In certain cases it can coverage injury to others off of your property. In contrast, it does not provide coverage healthcare costs for you or other members of your household.
Family/Personal Liability — This typically provides a set amount of coverage for specific type of injury that you cause to others. This can also provide coverage for damage to others property. When choosing your liability coverage limit, consider things like how much money you make and the things you own.
What Does Missouri Mobile Insurance Not Cover?
Some coverages that aren't included on a standard policy usually include but are not limited to:
- Flooding, including sewer backup and drain
- Earthquakes, sinkholes and landslides
- Infestations by vermin, mold, birds, and fungus
- Neglect or Wear and tear
- Nuclear hazard.
- Government action, such as war.
Sometimes you can coverage for these causes, but you have to purchase them insurance separately or ask for an endorsement. For example, there is earthquake and flood insurance for people living in areas that suffer from these disasters repeatedly.
Actual Cash Value VS. Replacement Cost
Mobile home insurance differs from traditional home insurance in several key aspects. While most standard home insurance policies are typically written at replacement cost, mobile home insurance often includes options such as actual cash value, stated value, or replacement cost.
- Replacement Cost: In the event of a loss, the mobile home would be replaced with a new model.
- Stated Value: This option allows you and the insurance company to agree on a predetermined insurance payout specified in your policy.
- Actual Cash Value: Under this policy, the insurance company will account for depreciation based on the age of the mobile home at the time of loss.
Ways To Lower My Mobile Home Insurance Cost?
Shopping for Mobile Home Insurance can be overwhelming if you don't use MBG. Our team helps you find shop around without having to sacrifice coverage. If your looking to lower costs here are some quick ways:
- Raise Deductibles
- Bundle with Other Policies
- Remove Coverages You Don't Need
- Get A New Roof
- Shop with An Insurance Broker