4 Things to Know About Tiny House Insurance
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Tiny houses are a new type of home that have become increasingly popular throughout the United States for individuals and families. They’re usually equipped with a kitchen, bathroom, and then have a variety of different bedroom and/or living space styles, depending on the size and layout of the tiny house. For some people, they can be a cost effective and comfortable option when they’re looking to buy a home.
Insuring a tiny home has some similarities to insuring a regular home but also some important differences to know about. You want to make sure you have both the structure of your home and the items inside protected. You also want to make sure that, depending on the area you live in, you have any extra coverage you might need, such as flood insurance. Here are 4 things to know about tiny house insurance.
1. If you plan on moving your tiny house around, you’ll need RV insurance
If you plan on building your tiny house on a trailer frame so you’re able to move it around the state or country, you’ll need to get RV insurance. Having this form of tiny house insurance in place helps ensure that if anything were to happen to your home while it was moving, you would have protection, as opposed to standard homeowners insurance or mobile home insurance.
You might have to make sure that your tiny house meets any requirements set by the RV Industry Association (RVIA) in order to insure it. Many insurers will only insure a house on wheels if it’s made by a certain manufacturer. If you find an insurer who might bend their rules and insure your tiny house on wheels without the RVIA seal of approval, you could potentially risk having a tiny house insurance policy that doesn’t provide full coverage for your tiny house.
2. If you plan on having your tiny house stay stationary, you’ll need manufactured home insurance
Manufactured home insurance, also known as mobile home insurance, is similar to standard homeowners insurance. Manufactured home insurance will cover the structure of your mobile home and your personal property, but it won’t necessarily cover your home if it’s on wheels or if you decide to move it. You’ll also have insurance for any guests that might be injured while in your tiny house or on your property.
You’ll also need to purchase any extra insurance you might need depending on the area you live in and any perils you might encounter, like flooding or earthquakes, that won’t necessarily be covered under your regular manufactured home insurance policy.
3. If you build your tiny house on your own, you might have difficulty finding insurance
Insurance companies often won’t insure houses that aren’t built by professionals or contractors because they deem it more likely that the house might have a structural problem. Depending on if the tiny house you built is on wheels or not, you’ll have to try to find a company that will provide you the right tiny house insurance for a home you built yourself. You might have to shop around to find an insurance company that specializes in insuring homes that are built by their owners.
4. Some insurance companies offer specific tiny house insurance policies
Although many of the household name insurance brands might not have specific tiny house insurance policies yet, some smaller companies have created policies that are tiny house specific. Companies with tiny house specific policies can help cater their policies to your home, depending on both size and if you want your tiny home to have mobility or not. Having specific tiny house insurance can be beneficial because it can be tailored to your exact needs as a tiny house owner and you ensure you’re getting enough coverage in the event of an emergency.
Whenever you’re investing your money in a home of any kind, you want to make sure you’re protecting your investment. If you buy a tiny house, it’s important to make sure you obtain the right form of tiny house insurance for your new home so you and your family are covered in the event of an emergency. Insurance for a tiny house is different than regular homeowners insurance, but still just as important to have in place. When shopping around for you insurance, read insurance reviews on Clearsurance from unbiased consumers to find the insurance company that’s right for you. Some examples of companies that have various types of insurance for tiny homes include Foremost, Allstate, and American Family.