Understanding Renter’s Insurance for Owner-Occupied Mobile Homes
Hello everyone,
I recently transitioned from renting to owning an older mobile home, having purchased it after several years as a tenant. During my rental period, I maintained a renter’s insurance policy, which provided me with peace of mind regarding my personal belongings. However, after my purchase, I encountered significant hurdles when seeking homeowners insurance. Many providers deemed the mobile home uninsurable or quoted me premiums that exceeded the home’s value.
This has led me to wonder about the feasibility of retaining my renter’s insurance policy now that I own the home. I understand that this specific policy likely won’t cover the mobile home itself, which I am completely fine with; my primary focus is on securing coverage for my personal items. Unfortunately, my attempts to decipher the terms of my renter’s policy have left me somewhat confused regarding its applicability in my current situation.
For context, I reside in South Carolina, and my renter’s insurance is through State Farm. Additionally, there are no mortgages or liens attached to my property.
My primary questions are:
- Is it legal and ethical for me to continue with my renter’s insurance policy as an owner-occupant?
- If that is not an option, what alternative insurance solutions would you recommend to protect my belongings?
I would greatly appreciate any insights or advice from those who have navigated a similar situation. Thank you in advance for your help!
Warm regards,
[Your Name]
