5 Tips For Getting Affordable Insurance For Your Tiny Home On Wheels

Your dream of having your very own tiny home on wheels has finally been realized! You know that you need to take steps to protect your investment, but it can be difficult to navigate the waters of insurance policies and providers when you’re in uncharted territory. The tips outlined below can help you find the right policy at an affordable rate so that you can continue to enjoy the carefree lifestyle that your tiny house on wheels provides.

Should you buy insurance?

It is always a good idea to take out insurance on your tiny home on wheels. Not only will the coverage protect you and your home, but it can also help lower your monthly mortgage payments and save money. 

Here are five tips to make sure you get affordable insurance for your tiny house: 

1) Know what is covered by the policy. Does the company offer replacement coverage? Is vandalism or theft covered? 2) Consider deductibles and premiums.

Carrying liability only

One of the most affordable types of insurance for a tiny house on wheels is liability only. This type of coverage will help protect you if someone gets hurt on your property and decides to take legal action against you. 

If you have pets, the next thing to consider is what kind of animal policy you need to buy. You may not think it's necessary, but if a pet bites someone who then sues you, you'll want to be covered. 

When considering homeowners' insurance for a tiny house on wheels, make sure that your carrier knows about your new living situation so they can adjust their rates accordingly. 

Whether or not it is required by your state, flood insurance should also be considered when getting insured for a tiny home on wheels.

Umbrella policies - what are they?

Umbrella policies are meant to act as an insurance for your other insurance policies. They provide additional liability protection in the event that you have a claim and the damages exceed your current coverage levels. Umbrella policies typically start at around $150 annually and can go up from there depending on how much coverage is needed.

Inventory everything in your tiny home

An RV is basically a house on wheels so it makes sense that there are insurance options available to protect your mobile home. It's important to do your research and find out which type of coverage will work best for you. Here are some things to think about: 

-Do you need personal belongings coverage? -Do you need liability protection? -What is the difference between comprehensive and collision coverage? -Will your vehicle be stationary or mobile at night?

Know the difference between RV insurance and regular mobile home insurance

Many people believe that if they purchase a mobile home on wheels, or even a tiny house on wheels, then they are automatically covered by the same insurance policy. This is not true. Mobile home insurance and regular mobile homes have different policies that protect them from damage. RV insurance is designed for travel trailers, fifth wheel trailers, and campers that you can tow with your car to various locations.