Navigating Renter’s Insurance for Your Owner-Occupied Mobile Home
Hello, readers!
I wanted to share my experience and seek advice regarding insurance for my recently purchased mobile home. After several years of renting, I now find myself in a bit of a conundrum.
When I was a tenant, I maintained a renter’s insurance policy to safeguard my personal belongings. However, upon buying my mobile home, I faced significant hurdles while trying to secure homeowners insurance. Many insurers deemed the home uninsurable, and the few options available came with premiums that exceeded the actual value of the trailer.
This leads me to my question: Is it possible, both legally and ethically, to retain my renter’s insurance policy in this situation? I’m fully aware that the mobile home itself won’t be covered under this policy, and I accept that. My primary concern is ensuring that my personal items remain protected. Unfortunately, I couldn’t find anything conclusive in my renter’s policy documentation that addresses this situation.
For further context, I am located in South Carolina, and my renter’s policy is held with State Farm. Notably, there are no mortgages or liens associated with my mobile home.
Ultimately, I’m looking for clarity on whether I can continue with my existing renter’s insurance. If that’s not an option, I would greatly appreciate any recommendations for alternative ways to insure my personal belongings.
Thank you for your insights and assistance!
I own a mobile home located in a trailer park. We have previously had home insurance through an AARP program, but they have raised prices astronomically in the last two years. The property management recently sent us information that we could get insurance through a company they were recommending online at a much more affordable rate. I cancelled our old policy, and took the policy that the management had offered. But as I was finishing it up I noticed it said “renter’s insurance”. I justified it by saying the management wouldn’t offer us something I couldn’t use. But my spirit is feeling uneasy as you are. The reality is Property management is monolithic, wields a lot of power, has a lot of money; and just like any other industry like this, I maybe shouldn’t trust them.