In most cases, you will. The wind coverage may be sold separately through either Lloyds of London or a state wind pool, but coverage is almost always available.
No. In fact, it’s best to buy them as a package if you can. You save money and get significantly better overall coverage if you buy a specialty apartment insurance package that usually includes all of these coverages.
Mobile Insurance recommends you purchase a policy from a knowledgeable specialty agent who offers an apartment specialty insurance package. By buying from someone who knows and is comfortable with your business type, you get a much better deal.
It can be true for pre-1986 manufactured homes in poor condition. However, manufactured homes built in the past ten years actually carry higher wind ratings than most site-built homes. When properly set, a modern manufactured home is very safe.
Work with an insurance agent that is contracted with the best mobile home insurance companies and knows which ones offer the best value in your area. Raising your deductible and choosing to pay in fewer payments also lowers your premium.
Yes. In fact, it’s usually better. Some mobile home owners policies have more comprehensive coverage and include flood insurance.
Slip and falls, mobile home product liability, transportation and set-up related property damage and bodily injury, wind and hail damage to inventory, and employee injuries.
Yes, you do, as long as you get these subcontractors to provide you with proof of insurance and name you as an additional insured on their insurance policy. You should also use a written Performance Agreement with every sub-contractor. And remember, that you are ultimately responsible for your sub-contractor’s negligence in most cases.
The rate varies significantly with the primary rate factor being geography. These property insurance rates are higher in the Gulf Coast, Atlantic Coast and plains states. They are lower in New England and much of the Mountain west. The average national annual rate is about 1% of the wholesale value of your inventory.
General liability is the most important. It protects you when your negligence leads to bodily injury or property damage suffered by others. If you have inventory, you need inventory (open lot/ builder’s risk) coverage. If you have vehicles, you need commercial auto coverage. If you own no vehicles, you need hired/non-owned auto liability coverage. If you have employees, you need workers compensation insurance. All dealers should carry loss of business income coverage, too.
