Mobile home parks, in varying sizes and locations, can be found across the United States. A mobile home park can be filled with hundreds of homes, or less than a dozen. For every park, there is an owner who oversees a staff that is in charge of maintaining the park grounds and population. But another precaution an owner must take is an insurance policy on the park grounds.
An active mobile home park is defined by Mid-State Mutual Insurance as being an area with no less than five homes. These homes must be active, which means that there must be people living in them annually. Seasonal, or camping, usage will not be covered as a mobile home park, and this applies to parks that make the five-home requirement.
The park must be maintained, just as a city block would be. Roads and alleyways must be maintained, and trash receptacles must be onsite. Safety requirements include: posted speed limits, and flood protection for the park grounds and for each home.
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The criteria that determine the specifics of the policy include: number of years the current owner and management team have been in place; number of homes in park, occupied and not occupied; annual revenue; onsite or offsite management; source of water supply; entertainment facilities (pool, lake or playground); total area of park in acres.
Liability coverage will be extended to all park facilities that are used by the population. Also included in liability coverage will be the mobile homes that the park owns. The property will be insured up to the park boundaries. An insurance company will have an option to insure against property destruction inflicted by criminal activities or natural causes. Natural causes can be general equipment failure such as a water heater, or natural disasters such as a tornado.
Before starting the application process, the park will need to be fully documented. The materials needed to be compiled beforehand are the area plan, which should include natural features such as lakes or rivers, and the complete photo documentation of the park, including individual homes. Some insurers will require certain forms, like the ACORD, to accompany any documents.
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