Mobile Home Park Insurance

Whether designed for manufactured homes or trailer homes, mobile home parks are residential areas that provide land and utility hook-ups for mobile homeowners who rent the space from them. If you run a mobile home park, you must protect your business with the right kind of insurance for mobile home park owners. With the right policy in place, your business can get the reimbursement it needs in case of a lawsuit or another incident.

A local independent insurance agent can help you find the right mobile home park insurance for your unique company. They'll make sure you get set up with all the coverage required. But first, here's a closer look at insurance for mobile home parks.

What Is Mobile Home Park Insurance?

Mobile home park insurance is a specific type of business insurance designed to cover risks unique to this industry. A mobile home park insurance policy considers various threats to these kinds of businesses, ranging from the common to the rare and unexpected. An independent insurance agent can help you find the right insurance for your mobile home park.

Why Do You Need Mobile Home Park Insurance?

Because mobile home park owners rent land to owners of manufactured homes, mobile homes, or traditional trailers, their insurance needs are similar to those of a landlord. The homeowners who rent from a mobile home park must insure their own homes and belongings, but the mobile home park owner has insurance responsibilities, too. The business owner is responsible for covering common areas, utility service lines, and even the landscaping.

Why Mobile Home Park Owners Need Commercial Property Insurance

As the owner of a mobile home park, you are not responsible for covering the homes or the contents of the homes owned by those who lease from you. You do, however, have commercial property you need to insure. This may include the following:

• A central office building and its contents
• Underground utility lines and utility pedestals
• Electrical distribution equipment
• Roads and walkways
• Fences and signs
• Appliances, such as washers and dryers, if your mobile home park includes a laundry area
• Homes on the property if they are owned and leased out by your business

You need the right kind of commercial property insurance tailored to meet the risks involved in running a mobile home park. An independent insurance agent can help locate this coverage for you by comparing policies from various mobile home park insurance companies.

Other Important Types of Business Insurance for Mobile Home Parks

As the owner of a mobile home park, you face some unique and interesting liability risks. Because of the large number of people who spend time on your premises, whether they're residents or guests, you have an increased risk of a lawsuit related to injuries in common areas. This risk is further increased if your park includes amenities such as a swimming pool or playground. Further, if you permit residents to have dogs, particularly those deemed dangerous breeds, you can be named in a lawsuit if a resident gets bitten by a neighbor’s dog.

Fortunately, a mobile home park insurance policy’s commercial general liability insurance coverage often includes premises liability coverage. This covers court expenses, legal fees, medical treatments, and financial damages pertaining to injuries or property damage that occurs on your premises due to negligence in upkeep or failure to maintain a safe environment.

Mobile home park insurance may also include the following types of coverage:

• Business interruption insurance: This provides a continued revenue stream and pays for other expenses, such as employee salaries, during temporary closures due to covered perils like fire damage.
• Workers' compensation insurance: Required in most states, this coverage protects your business from a potential lawsuit if an employee gets injured or ill due to their job or the work environment. 
• Employment practices liability insurance: This covers your business if a former or current employee sues it for perceived discrimination, harassment, wrongful termination, or any other illegal business practice.
• Cyber liability insurance: This can provide reimbursement for expenses related to cyber-attacks or data breaches that may sell, expose, or distribute private or sensitive data and records kept by your business, such as customers' private information like addresses and forms of payment.
• Commercial flood insurance: This can protect your mobile home park against losses due to property damage and more caused by flooding that stems from natural sources like heavy rainfall or hurricanes.

An independent insurance agent can help explain the flood insurance requirements for mobile home parks and help your business get equipped with any other types of coverage it needs. Talk to your independent insurance agent about the right types of liability coverage for your business and risk management and safety protocols you can implement to further protect your mobile home park from potential litigation.

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How Much Does Mobile Home Park Insurance Cost?

The average mobile home park insurance cost can vary depending on many different factors. These can include factors like:

• Your mobile home park's location and size
• Your mobile home park's annual revenue
• The types and amounts of coverage your business needs
• The total value of any business property you need to insure
• Your business's prior claims history

Working together with an independent insurance agent in your area is a great way to get matched to the most affordable mobile home park insurance coverage near you.

An Independent Insurance Agent Can Help You Find Mobile Home Park Insurance 

As a mobile home park owner, when you purchase your business insurance policy, you may want to look at several different coverage options. Working together with an independent insurance agent can make this process much easier. 

These agents can help you find insurance companies that offer coverage specifically suited to mobile home park owners and help you understand and compare your policy options. They can also shop and compare policies for you and present you with only the quotes that represent the best overall blend of coverage and cost.