Insurance for Mobil Home Park

[Mike Reynolds]

Is there a specific type of insurance that may be better for a MHP that is tenant owned as opposed to park owned? Just wanting to make sure I am covering all my bases. 

[Frank Rolfe]

A properly insured mobile home park would have:

1) Liability coverage with a balloon so that you hit $3 million + (ask your insurance agent to see what you need)

2) Property coverage on all buildings, etc.

3) Workmen's Comp that covers your employees

4) EPLI insurance (employment practices liability insurance) to management issues

5) Loss of Income insurance (this is going to be based on cost, issues and banking requirements)

I would highly urge anyone looking for mobile home park insurance to call Kurt Kelley at Mobile Insurance in the Woodlands, Texas. He insures about 3,000 park owners and is the authority on this in my opinion. Do NOT use normal agents like State Farm, etc. or any group that insures your home and car because they have zero knowledge of mobile home parks and you will end up paying twice as much and have half the coverage (or worse).