3. The Crucial Difference: ACV vs. RCV

When choosing a policy, this is the most important decision you'll make:

• Actual Cash Value (ACV): If your home is destroyed, the insurance company pays you what the home was worth at the time of the loss (original price minus depreciation).

• Replacement Cost Value (RCV): The insurance company pays to replace your home with a new one of similar quality, regardless of depreciation.

Tip: Always push for Replacement Cost if your budget allows. Manufactured homes can depreciate differently than site-built homes, and ACV might leave you with a payout that isn't enough to buy a new roof, let alone a new home.

4. What's NOT Covered? (The Exclusions)

Standard policies have "blind spots" that you need to be aware of:

• Floods and Earthquakes: These are almost never covered. You will need a separate policy (like through the NFIP for floods).

• Transit Coverage: Standard insurance covers the home while it's stationary. If you are moving the home to a new location, you need a Trip Transit rider.

• Older Homes: If your home was built before June 15, 1976 (pre-HUD code), it can be much harder and more expensive to insure.

Pro-Tips for Saving on Premiums

• Safety First: Installing smoke detectors, deadbolts, and fire extinguishers can often trigger small discounts.

• Foundation Matters: Homes anchored to a permanent foundation (like a concrete slab) often qualify for lower rates because they are more resistant to wind damage.

• Bundle Up: Most major carriers (like Progressive, State Farm, or Geico) offer significant discounts if you bundle your home insurance with your auto policy.