Having quality mobile home insurance in Ontario is just as important as having regular Ontario home insurance.
While neither is a legal requirement in Ontario, they’re both a crucial safety net for home / mobile homeowners to protect their most valuable asset.
WHAT IS CONSIDERED A MOBILE HOME?
While the answer here is usually obvious in most cases, it’s important to know the technical answer whenever you’re dealing with matters related to insurance.
According to Statistics Canada, a mobile home is:
“A single dwelling, designed and constructed to be transported on its chassis and capable of being moved to a new location on short notice. It may be placed temporarily on a foundation such as blocks, posts or a prepared pad which may be converted by a skirt. If placed on a permanent foundation, it is considered (for census purposes) to be a single detached dwelling.”
In short: permanent foundation = home, temporary foundation = mobile home. A house you can move versus one you can’t.
This means a mobile home can include:
- Mini homes / tiny houses
- Modular homes
- Manufactured homes
Do you have your regular home insurance with Erie Mutual and looking to add on a policy that also covers your second mobile home? Contact us anytime!
Note: Erie Mutual Insurance does not typically provide stand-alone mobile home insurance policies.
WHAT DOES MOBILE HOME INSURANCE COVER?
The short answer is that mobile home insurance covers all the same things that traditional home insurance covers, including:
- Structure and contents insurance
- Fire insurance
- Theft insurance
- Vandalism insurance
- Liability insurance
Due to the unique nature of maintaining and caring for a mobile home, you’ll want to discuss with your insurance provider about potential optional coverages.
Always ask about what IS and IS NOT included with every insurance policy you own.
HOW MUCH DOES MOBILE HOME INSURANCE COST?
Although purchasing a new mobile home in Ontario can range anywhere between $50,000 – $500,000 (1) with the average in a place like Ottawa Ontario being around $160,000 (2), that’s still a far cry from what it costs to purchase a new single dwelling home or condo in Ontario.
With the lower value of a mobile home compared to a regular home, the difference in the costs of insurance is often proportionately similar.
Other factors come into play when determining the cost of mobile home insurance such as:
- Age
- Risks of its location
- Construction type
- Your insurance history
- Policy type
The #1 factor that influences the cost of mobile home insurance remains the replacement value.
With the average cost of home insurance in Ontario being around $1,400 per year, the average cost of mobile home insurance is around $900 per year (3).
We recommend getting 2-3 quotes from insurance providers who offer mobile home insurance so you can compare.
We offer mobile home insurance as a part of an existing regular home insurance policy. If you’re looking for both (or already have your home insurance with us), please reach out and we will be happy to discuss!
Erie Mutual Insurance proudly serves the commercial insurance, farm insurance, home insurance and auto insurance needs of members throughout Southern Ontario including Haldimand, Niagara and Hamilton.
Please don’t hesitate to contact us with any questions you may have about this or any other topic related to your insurance.
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SOURCES
1 – Spring Financial
2 – Forbes
3 – ThinkInsure.ca
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