Manufactured homes, also referred to as mobile homes, are prefabricated houses that are built in a factory and transported, by road, to the sites where they will be used. Unlike modular homes, these homes have a permanent wheeled chassis that enables them to be moved again at a later date. Mobile homes provide people with a more affordable housing option, and a number of dealerships throughout the country display, sell, and coordinate the delivery of these homes to the public. If you own one of these dealerships, you will want to be sure to protect the investment you have made in your business with a suitable commercial insurance policy.
Commercial insurance policy packages for mobile home dealers are very similar to the packages designed for car dealerships. There are a number of concerns these businesses have, whether looking at the value of the merchandise, the liability concerns related to delivery and transport, or the service and repair aspect of the businesses. It is imperative that when you are purchasing mobile home dealers business coverage, you work with an insurance agent who is experienced at building policies in this highly specialized industry.
The property of your dealership is likely best handled by what is known as a garage policy or dealers insurance. Very few insurance companies deal with this type of coverage, but the ones that do are very knowledgeable about your risks and are likely to provide a number of coverage options to help you build the right policy for your business. An independent agent can help you navigate through these options.
The mobile homes you keep in your inventory, whether display models or models that are ready to be transported upon ordering, have a very high monetary value. They are typically exposed to the elements and are therefore vulnerable to wind, hail, water and wildfire damage. A major disaster can bring about a very high dollar loss for your business, so you need to be sure that your policy can handle such an event. Your mobile home dealers insurance policy will provide you with property damage coverage, but you may need supplemental insurance.
As a dealer of mobile homes, you face some unique and interesting liability risks. In addition to the risk of injuries to the public while touring model homes, you also have liability risks associated with delivery and service.
Many dealers subcontract with other companies to handle the delivery and setup of these homes, and these other companies should carry their own insurance. However, it is important to remember that in today’s litigious society, anyone can be sued for anything, and if an expensive accident occurs during the time of delivery, your business can be named in the lawsuit. Fortunately, liability insurance coverage can provide coverage for court costs, legal defense fees and other financial damages.
Be sure to discuss your liability risks with your insurance agent while building your policy so you can ensure that your various risks are covered by your policy.
In addition to the property and liability coverage mentioned above, you may have to get or at least consider other insurance coverage types including the following:
Additional insurance coverage may be a good fit for your specific manufactured home dealership. An independent insurance agent can work with you to help you recognize other risks you may face and can help you find appropriate coverage to mitigate those exposures.
As a manufactured home dealer, when you purchase a business insurance policy, you need to look at several different coverage types. This is why it is to your benefit to work with an independent agent in the Trusted Choice® network. Not only can these agents help you determine and mitigate your risks, but they can also work with a variety of insurance companies to build an appropriate and cost-effective policy. Find a Trusted Choice agent near you, and schedule an appointment to discuss your options. With your agent’s help, you can soon be comparing quotes on mobile home dealers insurance coverage designed specifically for your business.