If you have decided that a tiny home is a right option for you, and you are ready to move forward with a purchase, you could find that insurance is still a requirement. Maybe you just want to have insurance as a financial safety net and that is great for many who are looking for a tiny house for sale in San Jose. Below are some things to keep in mind about tiny house insurance versus regular home insurance.
Is Tiny Home Insurance Different From Other Insurance?
The answer to this question is based on your lender and what type of insurance they require you to carry. Some agencies and insurance companies are moving into making a tiny home insurance policy available that is crafted to the lifestyle and size of these homes. However, there are some differences with tiny homes, insuring them, and determining how it is different from other insurances.
Comparing Tiny Homes to Other Insurance Policies
Some insurance companies find these tiny homes to be a gray area simply because of their size and mobility. Depending on who you ask, tiny home insurance could fall under one of the following insurance categories:
- Home Insurance
- Auto Insurance
- RV/Motorhome Insurance
- Mobile Home Insurance
Those who require home insurance for tiny homes do this based on the inspection requirements of the home and how it is classified in the area. One of the big differences will be the coverage amount because these homes are significantly smaller than the average home and also because most of them are located on rented property.
Because almost all tiny homes have wheels attached and can be moved similarly to trailer campers, then auto insurance could be required because they will spend time on the highway. This means that some places could require a basic form of auto insurance on the tiny home, no matter its size or the frequency of when it moves.
These policies are meant to be a blend of home and auto insurance protection which works out great for tiny homes, except you live in your tiny home year-round and do not move it like an RV or motorhome is moved.
Mobile Home Insurance
When it comes to tiny home insurance, those that are already in place are largely modeled after mobile home insurance. Like tiny homes, they can be moved, but they are often placed on a permanent lot and used as permanent housing. The biggest difference between these two would be the coverage amount due to the size difference.
Is a Tiny Home in Your Future?
Once you have decided on a tiny home that is right for you, you can secure the right insurance policy. If you need information on tiny house builders in San Diego, contact us at Decathlon Tiny Homes today for your quote, and let us answer any questions you may have.