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- Tiny Living Guide
- 05 Mins
Imagine living in a cosy, compact space that reflects your minimalist lifestyle and commitment to sustainability. Tiny houses have gained popularity in recent years, offering a unique way of living that brings us closer to nature and reduces our environmental footprint. But like any home, a tiny house is an investment you want to protect. That’s where tiny house insurance comes in.
Tiny homes have their own set of characteristics and requirements when it comes to insurance. Unlike traditional homeowner’s insurance, finding the right policy for a tiny house can be a bit more challenging. Depending on your situation, you may need a standard homeowner’s policy or have to explore options like RV insurance or a manufactured home policy. It can be confusing and frustrating, especially for those new to the world of tiny houses.
How to Choose the Best Insurance Provider?
The best insurance companies in this segment provide endorsements that allow for customization, ensuring that your insurance coverage aligns perfectly with your tiny home and personal circumstances. Exceptional customer service is another key factor to consider when choosing an insurance provider. You want to have peace of mind, knowing that any questions or concerns you have will be addressed promptly and professionally.
Financial strength is another critical aspect to consider when selecting a tiny house insurance provider. Choosing a company with a solid financial foundation and a track record of fulfilling its obligations to policyholders is crucial. You want to be confident that if a covered loss occurs, your insurance provider will be able to reimburse you accordingly.
Key players in the market
To help you navigate this process and find the best insurance coverage for your tiny home, we’ve reviewed some of the top insurance providers in the market. Let’s take a closer look at why tiny house insurance is crucial and how you can find the perfect policy for your needs.
Strategic Insurance Agency
When it comes to insuring your tiny house, whether on wheels or a foundation, Strategic Insurance Agency stands out as one of the top choices. They provide reliable coverage, affordable rates, and easy claims handling, all without requiring certifications. With policies available for primary, rental, and vacation tiny homes, they offer coverage in 48 states.
Cons of Strategic Insurance Agency include relatively low coverage limits, a lack of a strong company reputation, and no rating by AM Best for financial strength. On the plus side, it offers tailored policies covering potential losses for tiny house owners. Strategic Insurance Agency coverage includes dwelling up to $250,000, personal property up to $25,000, contents theft \ up to $3,000, liability up to $1 million, and medical payments coverage up to $1,000. You can choose a deductible of $500, $1,000, or $2,500, depending on your budget.
What sets Strategic Insurance Agency apart is its flexibility and customization options. You can enhance your policy with endorsements such as detached structures, contents replacement cost, trip, dwelling theft, and personal articles coverage for valuables. They also provide coverage for primary and secondary tiny homes, short-term and long-term rentals, and even tiny vacation homes.
To receive a quote, simply use their online form or get in touch with one of their agents.
Foremost Insurance Group
Foremost Insurance Group is wildly considered the best for full-time residents and mobile homes. Foremost’s travel trailer insurance policy, known as the Foremost Outdoors policy, is a top recommendation for tiny mobile homes that frequently travel. It offers comprehensive coverage during transit, and you can enhance the policy to include coverage while your tiny house is parked at campsites, RV parks, or private property. The policy provides bodily injury liability, property damage liability, and medical payments coverage to supplement your RV insurance coverage. More benefits include policies that cover a wide range of perils, including collision, fire, flood, hail, windstorms, animals, theft, and low-hanging branches. They also offer endorsements for attached accessories, replacement cost coverage, emergency expense coverage, roadside assistance, vacation liability insurance, and full-timer coverage. The agency provides easy online claim filing through the customer portal and excellent financial strength with an ‘A’ rating from AM Best.
Foremost services are available in all 50 states, although certain coverages may have limited availability in certain areas.
Contacting an agent to inquire about certification requirements and potential policy bundling opportunities is recommended before making a purchase.
Liberty Mutual
Landlord insurance is a must-have if you have a tenant living in your tiny house full-time, and based on our research, Liberty Mutual is one of the best choices for rental property insurance. As a policyholder, you can supplement your coverage with Home Sharing Coverage, specifically designed for those renting out their tiny houses. This additional coverage includes protection for lost rent and damage to guests’ property.
The agency is the fourth-largest property and casualty insurer in the U.S. and holds an excellent AM Best rating. Its broad coverage area includes mobile home insurance and short-term rental coverage, allowing you to protect your investment even when your tiny house earns income. Mobile home insurance provided by Liberty Mutual covers the home itself, along with any attached structures, personal belongings, and damage or injury to third-party property. Policies from Liberty Mutual are underwritten by one of several companies under Assurant, which is also highly rated by AM Best. This ensures the reliability and financial strength of the coverage. Liberty Mutual stands out not only for its comprehensive coverage options but also for its top-notch customer service. With Liberty Mutual, you can quickly and conveniently get in touch with an agent via phone, Meta, Twitter, or text message.
One potential drawback of Liberty Mutual is that coverage eligibility may require your tiny home to be certified and comply with zoning laws. Detailed information about coverage limits and deductibles may also not be readily available on their website.
While Liberty Mutual offers rental property insurance coverage in all states, it is important to note that your tiny house will likely need to comply with local building codes and zoning laws, similar to regular rental homes or apartments, in order to purchase this coverage. Speaking with an agent to determine if certification is required for your tiny home before proceeding with the policy purchase is advisable.
Conclusion
Owning a tiny house is not just about embracing a minimalist lifestyle; it’s also about protecting your investment and ensuring your peace of mind. With the right tiny house insurance, you can enjoy your cozy abode without worrying about the unexpected. So take the time to explore your options, review our recommended providers, and choose the insurance coverage that fits your unique needs. Your tiny home deserves the best protection possible.