Why am I getting such drastically different quotes for the same manufactured home?

The coverage limits look the same to me; why would rates be so different? My manufactured home will be completed in a few days and I am shopping for the right kind of homeowner's policy. I have quotes from both Allstate and State Farm, and State Farm is drastically lower.

Answer
“Congratulations on your new home!
Every carrier looks at risk differently, so the prices wouldn’t be the same. However, since you mentioned that the price is drastically different, you will want to take a close look at the policy and speak with the agents.
Allstate and State Farm are both companies that have a good reputation for manufactured home coverage. Make sure both policies are for a manufactured home and not a mobile or modular home.
Those would require a different type of policy and the rate would be very different.
Another thing that might be different is how personal property is covered. You will want a policy that has RC (Replacement Cost) coverage for your personal property, not ACV (Actual Cash Value). Just this one change would make the rates significantly different.
One option is to get several quotes at once from different carriers and compare them side by side. By downloading a free app like Jerry, you can have home quotes from over 50 carriers and the best rates delivered right to your phone.”
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Shannon Martin
Answered on Jul 26, 2021
Shannon is an expert in personal lines liability insurance with 13 + years of insurance industry experience. She also served as a special insurance liaison to AARP members for 6 of those years. She is a graduate of UL Lafayette and currently resides in NY with her family. Shannon is also an amateur juggler, ukulele player, and is a time travel paradox theory enthusiast.
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