Yes. When they are insured, it gives them the money they need to repair or replace their house if it is damaged or destroyed, thus saving you a good tenant.
Slip and falls, trees and limbs falling on tenant homes, drowning, dog bites, electricity and gas related injuries, wind and hail damage to park property, employee injuries, and in-park traffic related injuries.
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 park owned homes, you need property coverage for those homes. If you have vehicles, you need commercial auto coverage. If you have employees, you need workers compensation insurance. And all park owners should carry loss of business income and hired/non-owned auto liability coverage.
Follow your mobile home insurance agent’s loss control recommendations. We’ll walk you through our recommended operating procedures and show you how they can save you money from day one. Review our loss control recommendations on the “Important Forms” section of our website for specific ideas.
These issues have the greatest impact on your insurance premium: prior insurance losses park size location overall maintenance / condition management procedures water hazards number of park owned rental homes the values of the buildings and improvements you insure.
Purchase coverage from a knowledgeable specialty agent who offers a mobile home park specialty insurance package. By buying from someone who is comfortable with your business type and knows the industry and your potential liability, you get more coverage at a lower rate.
