December 19, 2012

Top 5 Concerns Faced by Manufactured Housing Community Managers and Owners

ProSight’s partnership with Propel Insurance allows us to offer coverage to owners and operators of pre-fabricated and manufactured home communities. Here are five core issues that these kinds of properties face.

1 – Most residents rent, not own their properties

In many cases, all of the homes in manufactured communities are owned by the operators and rented to tenants on a monthly or annual basis. This creates a high level of turnover that can lead to insurance issues ranging from missing property to damaged homes. Owners need to have special levels of coverage to protect themselves and their buildings.

2 – Many of these communities are seasonal

Unlike apartment complexes or condos, manufactured home communities are often empty for long stretches of time every year. This can create liability issues if homes are damaged during the off-season or if trespassers enter the properties when they are unprotected. Our deep expertise in this sector allows us to cover this unique aspect of these communities.

3 – Fraudulent claims are difficult to defend

Because of the transient nature of the communities, it can difficult for owners to really know who is living in their properties – and if they are making spurious claims. ProSight/Propel conducts thorough inspections that give property owners the documentation they need to fight fraudulent claims, such as slip-and-falls. We also help owners protect themselves against claims by contractors who work on their properties.

4 – Common areas create safety – and liability – challenges

Manufactured home communities are primarily comprised of common areas, including parking lots, docks and laundry facilities that create numerous opportunities for risks, ranging from thefts to assaults to damage. We have the expertise to create policies that specifically address these issues to minimize the unique challenges that these kinds of properties can present.

5 – Manufactured homes are often damaged or destroyed

Manufactured homes are vulnerable to damage as a result of neglect, intentional vandalism, or other causes. Not only is a destroyed property impossible to rent, it can also degrade the attractiveness of nearby buildings. We offer several unique extensions that no other insurance company can bundle, including removal and repair for abandoned homes. This allows our customers to quickly overcome the loss of a building and focus on what they do best: running their communities.