Insurance For Manufactured Home Transporters & Installers:
Mobile and manufactured homes have made home ownership less costly than before. They are modern and take less time to build. However, they must be brought to and installed on-site at the customer’s final location, in contrast to regular residences.
There is increased liability whenever heavy items are moved from one location to another. As a result, regular auto insurance is insufficient to safeguard the mobile home the moving truck is transporting. You must take into account the risk involved in the shipment and installation of these residences.
You need to have the right insurance in place in case you, one of your employees, or a civilian is injured in an accident or the house is damaged while the installation is being done. We have covered several insurance policies suitable for mobile home transporters and manufactured home installers.
How much does insurance on a mobile home cost?
Purchasing and setting up a mobile or a manufactured home is considered cheaper than contemporary, site-built homes. Apart from the price factor, these homes take a relatively cheaper time to build and set up. This can be a lifesaver for homeowners.
However, these homes do need insurance just like any other contemporary home. How high or low the insurance rate is will depend on a variety of variables. These factors include:
- Location of the home
- Homeowners claim history
- The condition of the home
- Homeowner’s coverage limits
On average, the cost of mobile home insurance costs between $300 and $1000 annually. This is according to the average study done by Insurance.com. Although this is a typical range for many homeowners, the cost can be higher in some situations.
Mobile homes have different risks compared to contemporary homes. While the typical insurance policy covers most of these risks, some are not covered and require different insurance policies to cover them.
What risks does mobile home insurance not cover?
The majority of insurance policies do not completely cover all hazards. It is paramount to note the risks that involved parties would be exposed to even after taking the policy.
Some of the things that may not be covered in the mobile home insurance cover are:
- Risks that come with transporting the mobile home. Some insurers may however offer temporary coverage in the transit phase.
- Flood damage. Owners have to consider taking up a separate flood insurance policy.
- If the mobile home has wheels homeowners will have to take automobile insurance according to the National Association of Insurance Commissioners.
In this article, we take a deeper focus on insuring manufactured home installers and mobile home transporters. Since they are not covered in a typical mobile home policy, these service providers need to consider other insurance options to handle unforeseen events.
Why Should You Insure Yourself?
Transporting manufactured homes can be a major undertaking. To fulfill this, transporting structures are required to support the manufactured home since most are usually oversized both in width and length and sometimes even height.
Your responsibility as a transporter is to ensure that your service is done well without any hitches. However, there are several challenges and risks involved in both the installation and transport of mobile homes that should not be assumed.
Types of Risks Associated With Installation And Transportation
Manufactured homes are normally bigger than normal cargo. The trucks have to be fitted with temporary transporting structures to support the home. Despite taking measures to ensure that the home is readily secured during transportation, accidents may occur.
In addition to that, the manufactured home may be compromised during transit. If the roads are bad, the home may reach its destination with parts of it undone. Also if an accident occurs, the home may get damaged.
Installation can be easy and fast if done by a team of experts and in a calculated way. Even so, damages and cases of improper installation may occur. Since fitting a manufactured home involves a lot of tasks, especially in a location with no other mobile and manufactured homes, mistakes may occur.
Installing a manufactured home involves steps such as site excavation, laying the foundation, installing septic systems, and connecting electricity, gas lines and water, some of these activities may pose a danger to the installers, and injuries may occur.
Installers of manufactured homes and carriers of mobile homes can choose from a variety of insurance plans. These insurance plans help to cover the risk involved in operating a business of this nature.
Types of Insurance Policies Available for You
There are specific insurance policies for both Installers and Transporters. We explore each of them in detail below.
Manufactured Home Installers
Insurance Against General Liability
This insurance policy covers any third parties that suffer accidents including bodily injury and property damages that may occur in your place of business. This policy is usually a standard feature in any business insurance policy.
Equipment and Property Insurance
This policy covers any damages to equipment such as backhoes, skid steers, house cats, and blanket coverage for your small tools.
Mobile Home Transporters
Mobile home transporters face different risks from the installers. The following insurance provides coverage for some of the risks.
Insurance Against General Liability
Similar to that of installers, this policy does offer coverage to third parties who get accidents and any property damage that may occur in your place of business.
If the manufactured home in transit gets damaged this policy will help cover the damages to the homeowner.
Toter Liability Insurance
This policy covers the equipment used in transportation that is the toter, other vehicles, an escort and also the mobile home in transit. This policy offers physical damage and liability coverage for transporters.
Equipment and property insurance
If any accident occurs during the loading of the mobile home for transport, this policy will help with that.
This policy provides coverage for any physical damage that occurs in the garages, pole barns or buildings.
This policy provides you with protection from financial loss when cargo gets lost or damaged. As the manufactured home is being transported, a lot of events can occur.
In the case that events such as accidents, customs rejection, war, piracy, cargo abandonment or natural disasters occur, you will be paid the amount you are insured for. For mobile home transporters, the most suitable cargo insurance policy is land cargo insurance.
Cargo insurance has various coverages. You can select either of the following:
Warehouse to Warehouse Coverage
This insurance only covers cargo right from the time it is being loaded for transit to the time it arrives at the cargo owner’s destination. Even so, the policy does not cover other goods that are transported at the same time that does not belong to the cargo owner.
Named Perils Policy Coverage
This policy only covers a selected number of events. If during transit, the mobile home transporter faces a hazard that is not covered by the named perils policy, no compensation will be made.
Some of the perils that might be stated in the policy include:
- Bad weather.
- Other named perils.
All Risk Coverage
The all-risk policy has an all-around coverage for transit goods. Whatever risk you may face, it will most likely be covered by this one. But frequently, the policies state that the things you’re transporting should be brand-new and at low danger of being damaged.
The policy covers different loss situations except the following:
- Damaged cargo caused by negligence.
- Customs rejection.
- Cargo abandonment.
- Deterioration of volatile goods due to inherent risks such as temperature.
- Failure to pay or collect.
- War, strikes, riots, or civil commotions (WSRCC).
General Average Coverage
This policy is majorly applied in maritime cases for cargo insurance. However, it is important to know how it works in case you want to make a turnaround on the terms to suit land cargo insurance.
Under this coverage, any damaged or abandoned cargo has joint financial liability for all parties. This indicates that all parties that have a financial stake in the transportation of the products share the cost proportionately.
This means that if any of the cargo is damaged, the costs will be split among all companies transporting products on the same vessel. Even if one shipper’s goods are not affected, the firm or companies that did have damaged products as a result of that voyage will be required to pay.
Given that these claims are frequently in the hundreds of thousands of dollars, this is a crucial coverage that those who move products by sea should not disregard. Without the coverage, you would not be able to recover the financial losses for years. Should anything happen to the cargo, you would be responsible without the coverage.
Be safe and get covered! Contact us to discuss these and other insurance products available through USA Insurance Group to reduce risks for those involved in manufactured home installation and transportation. Our prices are very competitive and signing up is easy and quick! What are you waiting for?