Homes come in all kinds of types and shapes. The type of home determines the damages it might suffer, the cost of such damages, and the risk of injuries in the house. Some nonstandard homes have unique risks that standard homeowners might not cover. Below are a few examples of such homes.
Manufactured, Mobile, and Modular Homes
Insurance companies treat conventional homes, which builders construct onsite, differently from homes that factories build offsite. Mobile, manufactured, and modular homes are examples of homes that factories build offsite partially or fully. Many people interchange the terms, but they are slightly different. The differences affect how insurance companies treat these homes.
For example, standard insurance coverage usually applies to modular homes, which site on immovable chassis. However, manufactured or mobile homes, which sit on movable chassis, usually require nonstandard insurance that is typically more expensive than a standard coverage.
Mobile homes require nonstandard insurance because they are more vulnerable to weather damage, such as storm damage than other homes. The requirement is common for older mobile homes that might not have the same construction standards as newer ones.
As the name suggests, tiny houses are much smaller than the average house in the U.S. People like tiny houses because they are low-cost, energy-efficient, and encourage simple lifestyles. Some companies have insurance policies that specifically target tiny homes. You may also be able to buy and customize standard home insurance for your tiny home.
Tiny houses come in different forms that determine the appropriate insurance coverage. For example, you may need RV or mobile home insurance for a mobile and tiny home.
Some insurance companies require tiny home certification before selling coverage. Zoning regulations govern tiny home sizes, and many insurance companies don't cover homes that are not up to code.
Historic homes are relatively old, retain most of their original features and materials, and hold some historical significance. The National Park Service's National Register of Historic Places has a specific criterion that a property must meet to receive the historic home designation.
Historic homes require relatively high insurance limits and attract relatively high insurance rates. These homes are expensive to reconstruct after damage. For example, some historic homes require unique materials or designs that are difficult to replicate today.
You should have home insurance irrespective of the type of home you own. Contact an insurance agent to review the available homeowner's insurance options and help you purchase adequate cover.