We will possibly be renting/buying a manufactured home. We have to put 2k down and then we have a balance that we will pay every month for 5 years to the owners of the manufactured home community. After the 5 years we will own it. We will also pay $179 a month for lot rental. So, would we need homeowners insurance or renters insurance? Or is there another kind that is specific to manufactured homes. We currently have our house (regular stick built) insured with State Farm.