Insurance! So since I have an RV loan on my tiny house, I have to have insurance. For the last year, I had a policy through RV America. A year ago when I called all the companies, there were very few who'd ever heard of the idea and even less who were willing to insure a tiny house. They did after some lengthy discussions and some pressure from my house's builder, Tumbleweed. This was great. Except for the price tag, $759 annually. But I needed it for my loan, so I paid it.
Now this year, with that policy up for renewal, I thought I'd do another round of checking on what's currently available. This time around, every agent I talked to reacted something like "Oh, like the ones on TV? Cool! I love those! I don't know if we can insure them, let me check." Turns out that some still don't cover them though, and since I live in the least populated state, WY, several companies don't have licenses for my state who would otherwise offer coverage. Just not worth the trouble for so few people.
But Darrell (http://www.insuremytinyhome.com) and Farmers both do in my state. I'm still waiting on quote details from Darrell, but the local Farmers agent just came out to see the place and take some photos. She loved it and was so excited to see it and told me multiple times how jealous she was. ;) They quoted me $557 for the year and would insure it under a new category they invented just for tiny houses. Travel trailers that are stationary and full time residences or something like that. Not sure which I'll go with till I get the exact price back from Darrell, but it's cool that there are more options these days! Now I do have a house built by Tumbleweed and they have a RVIA license, so these details might be different for self built houses.
And while I was glad to have my policy for the last year, I wasn't real sure they really knew what they were covering, or that they would pay up if something did happen. But these other two both know exactly what they are insuring and I'm very comfortable with that. One of the two will be insuring Fy Nyth for the next year. Just some info for those of you looking for coverage yourself!
I really love the practical information you give out on your blog!!
ReplyDeleteI completely agree with your concern over the insurance company not really understand what they are insuring. Just like with medical insurance- you never know if you have good insurance until you file a real claim. And I don't mean piddly routine stuff, but a serious claim. Until then, it is all just speculation. Every insurance company is good at cashing premium checks!
Yup. Of course I hope to never need to make a claim at all, but would like to know I am getting what I paid for in case I need to.
DeleteGreetings! I discovered your blog today while drinking my morning “cup of joe.” I couldn’t resist sitting down and composing a little note to say, “thank you.” Now that I’ve bought my tiny house, I have a similar challenge with finding insurance. Thanks to you, I’ll be calling my local Farmer’s insurance agent for a quote.
ReplyDeleteJoshua Duncan @ Focus Insurance Atlanta
read your post it is really informative and keep updating with newer post on House insurance
ReplyDeleteGood info and comments, I had insurance on my RV trailer parked on Michigan property but my previous Insurance Co cancelled it after 5 years. They didn’t seem to understand the situation. Tho I don’t reside their year round.
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