Ways to Help Reduce Your Manufactured or Mobile Home Insurance Costs

Expert Reviewed by: Jim Gontjes, CPCU, Head of Product Management — Specialty Lines Property at Foremost

 

Saving money on your manufactured or mobile home insurance might be easier than you think.

Here are eight ways you might be able to reduce your monthly manufactured home insurance costs:

1. Install security systems. Insurance premiums are risk-based, which means you pay more if there's a higher risk of you having to file a claim. You can help reduce the risk of a break-in, theft or vandalism by installing security features.
2. Weatherproof your home. Weather-related events are one of the most common causes of manufactured home insurance claims. Upgrade your roofing, siding or insulate with fire resistant materials to help reduce damages in the event of a weather event. This strategy doesn't just help reduce premiums. It can also save your home in an emergency.
3. Install fire alarms and smoke detectors. Having a fire alert system is crucial to reducing your home's fire risk - a simple change that could help lower the cost of your manufactured or mobile home insurance.
4. Improve your credit score. Research shows a strong correlation between credit history and insurance claims. The idea is that financial responsibility signals overall responsibility, so improving your credit score could help lower your insurance costs.
5. Explore bundling opportunities. Bundling refers to purchasing multiple policies (such as home and auto) together with the same insurer. This may translate to savings across policies.
6. Pay upfront. Instead of paying monthly, consider paying your entire annual premium upfront to get a discount on your policy. Similarly, setting up auto-payments may lower your rates by removing any uncertainty about your ability to make payments on time.
7. Raise your deductible. If you're willing to pay more out-of-pocket in the event of an emergency, then consider increasing your deductible obligation. Generally, the less your insurer is responsible for paying in an emergency, the lower your premium.
8. Relocate. If you live in a disaster-prone region or a flood zone, you may be paying more monthly than you would in a different neighborhood. Consider relocating to an area with lower risk to help reduce the cost of your insurance.

If you’re exploring your coverage options, consider finding a Foremost^® Agent near you for personalized guidance or call us at 888-244-8092.

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