Anatomy of the Manufactured Home Community Insurance Policy

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July 9, 2014
Todd Montgomery
Simmons & Associates Insurance

There are many considerations taken into account by Insurance companies when looking into insuring a Mobile Home Park.

The following are just some of the factors:

- Type of Park:
Are you family friendly, 55 & older, Seasonal, or possibly a combination?

- Management:
Is your park managed by a management company? Do you have an onsite manager? Does the owner visit the park often?

- Rental Units:
Does your park have rental units? Do you require renters to carry renters insurance? Are the rental units inspected inside and out at least annually?

- Utilities:
Is your park on city sewer and water? If on a well, how often is the water tested? Is it tested by an outside independent company? How often is trash disposed of?

- Recreational Facilities:
Playground? Horseshoe pits? Tennis courts? Basketball courts? Weight room or exercise equipment?

- Exposure to water:
Do you have a pool? Does it have a slide or diving board? Is the pool area completely fenced? Are the rules and regulations clearly posted? Are depths marked? Is there safety equipment available? Is there a Jacuzzi or hot tub?

Is there any other exposure to water? (lake, pond, river, etc.)

- Security
Is there a gate at the entrance to your park? Are there security patrols from an outside agency? Are any park activities open to the public?

- Streets:
Are the streets paved? Are there any pot holes, depressions, or major cracks? Do you have speed humps? Are they painted? Is a speed limit posted? Do you have street lights?

- Tree exposure:
Does your park have an exposure to large trees? Are they pruned regularly?

Finally, the two most important factors Insurance companies consider when insuring a Mobile Home Park…

How many spaces?
Gross annual revenue?

Feel free to contact me if anything you have read in this article creates a question for you.

Todd Montgomery
511 Center Street
Oregon City, OR 97045
(503) 768 - 9706
todd@simmons-ins.com
www.simmons-ins.com

(Editors Note: MHCO is fortunate to have over 25 association members who provide a variety of services to manufactured home communities. MHCO strives to maximize associate member's exposure to the broader community membership. All MHCO associate members are invited to provide articles for the MHCO web site. We welcome your involvement - just contact the MHCO office.)

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