CoverTree Secures $13 Million in Series A Funding to Revolutionize Manufactured Home Insurance Read More
 
Covertree’s Comprehensive Guide.

Protecting Your Manufactured Home in Dallas, TX.

Disclaimer: Data Accuracy and Sources
The data in the Covertree Resources section is from publicly available sources last updated in December 2022. We provide source links for verification. However, we can’t guarantee accuracy. Rely on this data at your own discretion. For specific advice, consult professionals.

A Guide to Mobile Home Insurance in Dallas, TX: Costs, Coverage, and Considerations

A Guide to Mobile Home Insurance in Dallas, TX: Costs, Coverage, and Considerations

Welcome to Dallas, Texas -the glittering crown jewel of North Texas, a vibrant blend of modernity and southern charm, Dallas offers an array of experiences that captivate both locals and visitors alike. This dynamic city, with its myriad attractions and rich heritage, is a testament to the resilience and vision of its forebearers.

Established as a trading post in 1841 by John Neely Bryan, Dallas quickly became a focal point for the cotton and oil industries. Its strategic location, nestled by the railroads, made it a hub for business and commerce.The early 20th century witnessed Dallas’s evolution as an industrial giant, especially with the discovery of the East Texas Oil Field. The subsequent economic boom positioned the city as an epicenter for finance and business.

In 1963, Dallas sadly became the backdrop for one of America’s most tragic events, the assassination of President John F. Kennedy. Today, the Sixth Floor Museum at Dealey Plaza stands as a solemn reminder, offering deep insights into the life and legacy of the late president.

Post the oil boom, Dallas diversified its economic portfolio, delving into sectors like telecommunications, information technology, and healthcare, which laid the groundwork for its modern, thriving economy.

Dallas’s Unique Flair:

The city’s skyline is dotted with architectural wonders, from the gothic revival of the Kirby Building to the modernist aesthetic of the Perot Museum of Nature and Science. Dallas is home to a rich tapestry of cultures. This diversity is reflected in events like the annual State Fair of Texas, neighborhoods like the Bishop Arts District, and a thriving arts scene that spans theater, music, and dance. Cheer on America’s team at AT&T Stadium, home of the Dallas Cowboys, or get swept up in the excitement with the Dallas Mavericks and the Dallas Stars. There’s always a game to watch or a match to attend!

As a nexus of education and technology, Dallas boasts renowned institutions like Southern Methodist University and a booming startup scene, reflecting its legacy as a city of dreamers and doers. Yet, despite its bustling urban persona, Dallas offers serene retreats like White Rock Lake and the Great Trinity Forest, emphasizing its commitment to sustainability and green living.

The culinary landscape of Dallas is as vast as Texas itself. While it’s renowned for its barbecue and Tex-Mex, the city’s gastronomic offerings span the globe, showcasing its multicultural essence.Cultural Hub: Dive deep into the arts at the Dallas Arts District, the largest urban arts district in the U.S., where world-class institutions like the Dallas Museum of Art and the Nasher Sculpture Center await.

No matter your interests, Dallas promises an unforgettable experience. Rich in culture, steeped in history, and brimming with southern hospitality, the city beckons with a promise of exploration and discovery. Dallas is more than just a city; it’s an experience. Its storied past, coupled with its forward-thinking vision, makes it a destination that beckons to those who seek to understand the soul of America’s Southwest. Here, history intertwines with modernity, and tradition melds with innovation, offering a uniquely Dallas experience to all who visit.

Understanding Mobile Home Insurance In Texas.

Understanding Mobile Home Insurance In Texas.

Do I Need Mobile Home Insurance in Texas?

Do I Need Mobile Home Insurance in Texas?

  • Optional, but often required by lenders and mobile home communities.
  • Lenders can’t mandate coverage that surpasses home and content replacement value.
  • Strongly recommended for financial protection against damages.

Texas Mobile Home Insurance Costs Explained

Texas Mobile Home Insurance Costs Explained

Mobile home insurance is essential for safeguarding your most valuable asset. Prices in Texas typically range from $250 to $1,300 annually, influenced by various factors. Deciding between actual cash value and replacement cost coverage will also impact both premiums and compensation amounts in case of a claim.

Insurance rates are influenced by:

Insurance rates are influenced by:

* e.g. A five-year-old home bought for $50,000 but now worth $35,000 will be compensated at $35,000.
** Typically has higher premiums but offers more compensation during a claim.

Unique Considerations for Texas Mobile Home Insurance!

Unique Considerations for Texas Mobile Home Insurance!

Mobile Home Insurance Coverage in Texas:

Mobile Home Insurance Coverage in Texas:

Filing a Mobile Home Insurance Claim in Texas:

Filing a Mobile Home Insurance Claim in Texas:

Tips for Purchasing Mobile Home Insurance in Texas:

Tips for Purchasing Mobile Home Insurance in Texas:

Remember, while insurance might seem optional, it provides invaluable peace of mind against potential financial setbacks.

Choosing the Ideal Texas Homeowners Insurance Policy:

Choosing the Ideal Texas Homeowners Insurance Policy:

The apt insurance policy largely hinges on your home type, repair or rebuilding costs, and the worth of your belongings. It’s often a smart move to opt for the most robust protection within your budget. This is especially true if you haven’t set aside a significant emergency fund. Though a comprehensive policy with a lower deductible might require higher premiums, it ensures quick recovery after a substantial loss.

As your savings grow, you might consider increasing your deductible to decrease your premium. But here’s a pro tip: sometimes, a $1,000 deductible isn’t much pricier than a $5,000 one. In such instances, the minimal extra expense can prove invaluable in the event of a large claim.

The location of your mobile home, particularly the zip code in Texas, is a significant factor.

The location of your mobile home, particularly the zip code in Texas, is a significant factor.

You Need: The HO-7: Texas Mobile Home Form

You Need: The HO-7: Texas Mobile Home Form

  • For Texas residents who own a mobile home, the HO-7 insurance form is crucial.
  • This insurance covers both your dwelling and personal property.
  • The HO-7 offers comparable coverage to the HO-3 policy.
  • One thing to remember: if you plan on moving your mobile home, the HO-7 doesn’t always cover it while in transit. You may need to consider supplemental insurance in such cases.

What Does an HO-7 Policy Cover?

Type of Homes: Mobile or manufactured homes (trailers, single/double-wide mobile homes, RVs, modular homes, etc.).

Open perils, covering almost everything unless specifically excluded.

Named perils, only covers for specific causes of loss listed on the policy.

Coverage is based on replacement cost, not the market rate.

Coverage for named perils only. Examples of named perils: lightning, hail, fire, theft, vandalism, explosions, water damage from plumbing, etc.

Sub-limits for certain valuables (e.g., jewelry, firearms, electronics). Jewelry: $1,500 (theft-only) Firearms: $2,500 Electronics: Varies

Protection against bodily injuries or property damage you’re found liable for.

Covers expenses if the mobile home becomes uninhabitable.

Covers medical expenses for injuries in the mobile home (surgery, ambulance fees, X-rays, etc.).

What Does an HO-7 Policy NOT Cover?

Personal property damage that doesn't fit the named perils.
Exclusions include:

  • Floods
  • Hurricanes
  • Mold (Limited Coverage Might be Possible to Add)
  • Earthquakes (Separate Policy Might be Available)
  • Vandalism to Vacant Dwellings
  • Wear and Tear
  • Damage From Pets
  • Intentional Acts
  • Neglect
  • Government Actions

Understand The HO-3: Texas Special Form

The HO-3 policy is the predominant homeowners insurance in Texas. It offers open-peril coverage for homes and related structures, covering all damages unless specifically excluded.
Exclusions typically include:

  • Earthquakes
  • Floods
  • Damage from insects & vermin
  • Wear, neglect, or intentional damage
  • Wind/hail damage to trees
  • Vacancies, continuous water leaks
  • Sewer backups, acts of war
  • Certain mold cases

Additional Insurance Policy Options:

Even if you’ve chosen the HO-7 or another base form for your policy, you might still want to contemplate additional coverage for specific scenarios. Here are some prevalent options:

This is a basic policy, covering only named perils. It offers actual cash value instead of replacement cost coverage. Designed mainly for vacant properties or standalone structures, all occupancy types can avail of this policy. However, for liability or personal property coverage, you’ll have to incorporate these features.

Also termed a landlord’s policy, the DP-3 is tailored for rental properties. It covers the property’s structure, provides liability coverage for accidents, and even ensures your rental income in case your tenants need to vacate due to a covered loss.

An essential policy if someone incurs severe injuries on your property with damages soaring above $1 million. This policy offers extra liability coverage exceeding the limits of a standard homeowner’s insurance policy. You would need a substantial underlying coverage to qualify.

For those treasured high-value possessions, like jewelry or electronics, a scheduled coverage is necessary. This is because typical personal property coverage under your dwelling policy has limits on payout for such items.

This coverage is your safeguard against costly damages arising from sump pump failures or sewer backups. Without this endorsement, such water damages won’t be covered.

Fires, floods, and other disasters can strike at any time, and these events usually occur when you least expect them. Unless you have the funds to make the needed repairs, you could be stuck without a home. Starting from scratch can be almost impossible. Insurance is a life-saving necessity for you and your family.

Choosing the Right Mobile Home Insurance for Dallas, TX.

Choosing the Right Mobile Home Insurance for Dallas, TX.

Flash Flooding and the Dangers of Rainfall:

Background:

Dallas-Fort Worth (DFW), ranking as the fourth largest metropolitan area in the U.S., faces frequent flash flooding due to its expansive urban stretch.

Impact:

Heavy rains, a common occurrence in Dallas, have been linked to accidents from slippery roads and reduced visibility. The rapid onset of flash floods can be perilous, endangering residents and even leading to losses when they try to save pets or belongings. For mobile home owners, the damage can be severe, with homes often situated in vulnerable areas.

Countermeasures:

Recent advancements, like the High Resolution Flash Flood Forecasting system developed in 2015 by researchers at the University of Texas in Arlington, provide a ray of hope, offering timely alerts to residents and aiding in damage mitigation.

Hail - Dallas’s Costly Nuisance:

Background:

Dallas battles a significant hail problem, enduring hail storms that lead to large-scale financial damages. The city has witnessed hail events in the past that have cost billions in damages.

Impact:

While hail may seem less concerning compared to other weather calamities, its repercussions are multifaceted. Large hailstones, with diameters exceeding an inch, pose physical threats to residents and can severely damage mobile homes. Moreover, studies, including those by John Allen, indicate a rise in hail occurrences over the past five decades, with Dallas experiencing larger hailstones relative to other regions.

Insurance Implications:

Mobile home owners need comprehensive coverage to offset hail-related damages, given the increasing frequency and severity of such events in Dallas.

Super Storms - The Looming Threat:

Background:

Dallas sits precariously in the path of the tornado valley. While tornadoes have frequented the region, experts, like Scott Rae and Jim Stefkovich, warn of a looming "super tornado." Simulations by the National Weather Service have underscored the city's vulnerability, showing potential paths leading to catastrophic damage.

Impact:

Dallas's expanding urban matrix and congested highways make evacuation a daunting challenge. A super tornado could lead to irreplaceable losses, both in terms of human lives and infrastructure. Furthermore, winter storms like Uri in 2021, although rare, showcased the inadequacies in the state’s infrastructure, as power plants, primed for dealing with heat, faltered in freezing conditions. Such events jeopardize mobile home residents, who are often left without power or heat.

Insurance Implications:

Given the multitude of weather risks, mobile home owners in Dallas need a safety net, making comprehensive insurance coverage indispensable.

We do insurance better. And here’s how.

We do insurance better. And here’s how.

  • Save an average of $250 per year
  • File a claim in 3 minutes
  • Easily manage your policy online
  • Skip the faxing, long paperwork, and unnecessary phone calls
  • Get support from an American-based team

Are you in Dallas, TX, looking for mobile home insurance

Choice of 6 insurance coverage in Corpus Christi, TX.

Choice of 6 insurance coverage in Corpus Christi, TX.

Extended Excess Liability:

What it is: Augments the liability limits for heightened protection.

Why it's needed: In scenarios where potential liabilities exceed standard coverage, this offers additional financial safety.

Credit Card and Fund Transfer Card:

What it is: Provides protection against unauthorized transactions on credit or fund transfer cards.

Why it's needed: With increasing cyber threats and fraud, this coverage gives homeowners peace of mind against potential financial losses.

Windstorm and Hail Coverage:

What it is: Protects against damages from windstorms and hail.

Why it's needed: Especially vital in regions prone to strong winds or frequent hailstorms.

Business Property:

What it is: Extends coverage to business property stored or used in the home.

Why it's needed: For those who run a home-based business or store business items at home, it ensures they're financially protected.

Replacement Cost:

What it is: Compensates the homeowner for the full, current cost of replacing damaged property without factoring in depreciation.

Why it's needed: Ensures that in the event of a loss, the homeowner can replace items without incurring out-of-pocket expenses due to depreciation.

Cyber Protection:

What it is: Similar to Cyber Security Coverage, it offers a wider range of protections, including digital assets, personal data, and even potential cyber bullying incidents.

Why it's needed: As our lives become more digital, the potential risks we face grow, making comprehensive cyber protection increasingly essential.

Mobile Home Facts : Texas

Mobile Home Facts : Texas

Treatment of Manufactured Home as Real Property:

  • Once a “real property election” for a manufactured home is completed, the home is deemed as real property.
  • This status remains unless the home is moved, the election changes, or the property’s use alters.
  • Once a statement of ownership and location is given by the department, it’s final. Changes can only be made if all parties agree, or specific procedures are followed.
  • If taking responsibility for a Statement of Ownership, ensure all housing department steps are followed, including necessary notifications.

According to the Texas Underwriting Manual TX: 12.24:

  • 12.24.3: Any manufactured housing unit on the property isn’t included in the land described in this commitment or policy.
  • 12.24.4: Upon a lender’s request and payment as specified in R-11(e), the T-31 and/or T-31.1 Endorsements can be issued; T-31.1 can be given to both the owner and the lender.

Learn about Texas Homeowner Assistance: Two Vital Programs!

Learn about Texas Homeowner Assistance: Two Vital Programs!

Texas residents who are struggling with home-related expenses have two vital assistance programs available: the Texas Homeowner Assistance Program due to the COVID-19 pandemic and the Homeowner Assistance Program (HAP) following Hurricane Harvey.

Treatment of Manufactured Home as Real Property:

Purpose: Support homeowners impacted by Hurricane Harvey to repair, rebuild, and enhance their homes.

Services Offered: Financial support for affected homeowners.

Homeowner Assistance Program (HAP):

Purpose: Support homeowners impacted by Hurricane Harvey to repair, rebuild, and enhance their homes.

Services Offered: Home repairs and rehabilitation I Home reconstruction I Enhancements for better resilience against natural disasters I Elevating homes above flood levels along with reconstruction aid I Temporary relocation aid

Residents are encouraged to assess their eligibility and take advantage of these programs to secure and improve their homes.

The Texas Coastal Insurance Pool (TCIP), formerly known as the Texas Windstorm Insurance Association (TWIA), is a vital insurance entity designed to protect homeowners in the Texas coastal regions. Established in the face of limited private insurance options, the TCIP provides wind and hail coverage to properties located in certain parts of Texas’s seacoast territory.

Texas Coastal Property Insurance Pool Programs!

Texas Coastal Property Insurance Pool Programs!

Key Features:

Primarily, the TCIP offers windstorm and hail damage insurance for homeowners who might not find coverage in the private market due to the heightened risk associated with coastal regions.
Residential and commercial properties in the 14 coastal counties and certain parts of Harris County (east of Highway 146) are eligible. However, to qualify, properties must comply with the windstorm building code for the region.
While the TCIP operates similarly to a typical insurance company, it is different in its financial structure. In the case of significant catastrophic losses, the association has the ability to recoup losses through premium surcharges or bonds, ensuring continuity of coverage for its policyholders.
With the growing threat of hurricanes and tropical storms in the Texas coastal regions, the TCIP plays a pivotal role in ensuring that homeowners can obtain the necessary insurance protection against these natural disasters.

Rates:

Inland of the Intracoastal Canal $2.50 per $100 coverage 42 Effective October 1, 2008 Seaward of the Intracoastal Canal $5.00 per $100 coverage

Eligibility for TWIA:

A mobile home located in a designated catastrophe area that meets the following criteria is eligible to be insured under the T.W.I.A. Dwelling Policy with Form No. TWIA-411, Conversion to TWIA Manufactured Home Policy attached to the policy.

Criteria 1

The mobile home complies with the definition of manufactured home under the rules and regulations of the Texas Department of Housing and Community Affairs (TDHCA).
The mobile home is occupied solely as a one or two family residence.
The mobile home is blocked and tied down in accordance with the current state generic standards promulgated by the TDHCA or with the manufacturer’s installation instructions.
Homes manufactured on and after September 1, 1997, must be designated by the manufacturer as Zone II homes to be insurable through the Association.

Additions to Mobile Homes:

Deductibles:

  • The following deductibles are mandatory under the T.W.I.A. Dwelling Policy with Form No. TWIA-411, Conversion to TWIA Manufactured Home Policy attached to the policy. a. Homes located inland of the Intracoastal Canal: 1% of limit of liability with a $250 minimum (TWIA Form No. 570) b. Homes located seaward of the Intracoastal Canal: 2% of the limit of liability with a $250 minimum (TWIA Form No. 575)
  • Deductibles apply separately to the home and household goods items on the policy.

Limit of Liability:

The maximum limit of liability for a mobile home, including any site-built additions attached to the home, and household goods is $84,000.

Policy Forms & Endorsements:

The following policy form is to be used: T.W.I.A. Dwelling Policy with Form No. TWIA-411, Conversion to TWIA Manufactured Home Policy attached to the policy

Know Your Rights!

Know Your Rights!

Additional Policy Riders for Mobile Home Insurance in Texas:

Additional Policy Riders for Mobile Home Insurance in Texas:

Adding policy options to a basic insurance plan is a common practice in the mobile home insurance industry. While the events covered in mobile home policies are similar across all states, additional coverage options, known as add-ons, endorsements, and riders, may vary depending on your location and insurance provider. Each of these options comes at an additional cost that can be customized according to your needs.

Flood Insurance

Provides protection against flood-related damages, excluding waterline or sewer backups. Average annual cost: $700.
The mobile home is occupied solely as a one or two family residence.
helps homeowners meet current building codes during repairs or reconstruction, ensuring updates to older homes meet modern standards. Costs: Anywhere between 10% to 25% of dwelling coverage.
offers specialized coverage for high-value items like jewelry or art.
is for home-based businesses, ensuring business property stored at home is covered. Costs vary based on asset value.

Adding any rider will increase your premiums, influenced by location, risk profile, chosen coverage, and deductible. Riders can be added during initial policy purchase, at renewal, or anytime during the policy period. Some carriers might not offer all endorsements, so shopping around might be necessary.

References:

References:

References: 

CoverTree Inc. (CoverTree) is a Program Administrator for CoverTree’s Manufactured Home Program, underwritten by Markel American Insurance Company (Markel), located at 4521 Highwoods Parkway, Glen Allen, VA 23060. CoverTree is acting as the agent of Markel in selling insurance policies. CoverTree receives compensation based on the premiums for the insurance policies sold. Further information is available upon request. Subject to underwriting guidelines, review, and approval. Use of Covertree is subject to our Terms of Use, Privacy Policy, and Licenses.

CoverTree operates in the state of California (CA) as MHTree Insurance Services with CA license# 6009070.

Products and discounts not available to all persons in all states. All decisions regarding any insurance products, including approval for coverage, premium, commissions and fees, will be made solely by the insurer underwriting the insurance under the insurer’s then-current criteria. All insurance products are governed by the terms, conditions, limitations and exclusions set forth in the applicable insurance policy. Please see a copy of your policy for the full terms, conditions and exclusions. Any information on the Site does not in any way alter, supplement, or amend the terms, conditions, limitations, or exclusions of the applicable insurance policy and is intended only as a brief summary of such insurance products. Policy obligations are the sole responsibility of the issuing insurance carrier.

Rating as of March 1, 2022. AM Best ratings are under continuous review and subject to change. Please refer to Markel’s website for the most current information. The rating represents the overall financial status of Markel American Insurance Company, and is not a recommendation of the specific policy provisions, rates or practices of the issuing insurance company.

Copyright © 2022 CoverTree Inc. All rights reserved

×