Property Rating Considerations

What Affects Your Property Insurance Rate?

Property insurance rates are affected by some of the following factors:

  • Geographic location
    Tornado, hail, flood, earthquake, hurricane, etc. prone areas generally pay higher rates. In addition, your proximity to a quality fire department is also important.
  • Type of building construction
    Sturdier and more fire resistant structures have lower rates.
  • Age of building
    Newer buildings generally pay lower rates.
  • Loss Control Barriers in Place
    A building with smoke alarms, fire extinguishers, burglar alarms, automatic sprinklers, and/or perimeter fencing pay lower rates.
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Liability Rating Considerations

What Affects Your General Liability Insurance Rate?

General liability insurance rates for manufactured home retailers and communities are affected by some of the following factors:

  • Owner / manager involvement, experience, and expertise.
  • The condition of the insured property – well kept, well-policed, well-controlled, orderly properties pay lower liability insurance rates. Lighting and street/sidewalk conditions are particularly important.
  • The existence of potentially hazardous areas such as swimming pools, playgrounds, workshops, and unrestricted work areas.
  • Historical loss experience.
  • The size and extent of your business operations.
  • Location – for example, an urban litigious area such as Los Angeles, California has significantly higher liability rates than a rural conservative area such as Weatherford, Oklahoma.
  • Utility distribution system ownership – for example, a manufactured home community that owns its own gas lines will pay higher rates than one in which the gas lines are owned and maintained by the local gas company.
  • Rental home ownership – a manufactured home community that rents only the home site will pay much lower rates than the community which rents both the site and the home. Regular maintenance of rental homes is very important. Residents must agree in writing to regularly replace smoke alarm batteries.
  • Retailers who sell more than an incidental number of used homes generally pay higher rates. Electrical, gas & plumbing checks must be done on used homes.
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