Mobile Homes Are Moving Up in America

DPSI
// June 2, 2022
Reading Time: 2 minutes

Photo of mobile home

In the 1870s, the first mobile home park was built in North Carolina for vacationers traveling to and from the Outer Banks. Fast forward to 2022: The mobile and manufactured home industry is a top performer in the U.S. housing sector, with an estimated 22 million Americans living in these homes.

According to Statista, as of December 2021, Texas has over 137,000 mobile homes. Florida follows with over 50,000. North Carolina, Alabama, Mississippi, Michigan and California have around 25,000 each.

With 54.6% of mobile home owners having lived in their current home for more than 10 years, the mobile home industry has become a viable, affordable living option for many Americans — and a lucrative opportunity for investors. Migrations to warmer climates, rising household expenses and high occupancy are all factors that point to substantial growth in the industry this year.

Our Mobile Home Park product is exclusive to Devon Park Specialty. We offer general liability coverage for mobile and manufactured home park owners with up to 500 mobile homes/pads. We have no limitation on the percentage of owned homes rented to others, and we can consider accounts with pools, playgrounds, sports courts and more. We also have a property solution for common buildings, such as clubhouses, laundry facilities and maintenance garages.

Our product is specifically designed to provide well-rounded, comprehensive coverage for this unique type of risk. Additional product features include:

  • Liability rated on number of pads as opposed to revenue
  • Competitive minimum premiums
  • No liability deductible
  • Up to $5 million in excess liability limits
  • Excess layering available for up to $5 million limits within a $20 million tower

As the mobile and manufactured housing sector continues to grow, send your next submission our way. We will provide you with a competitive quote.

Contact your Commercial Lines underwriter for more details about our Mobile Home product.

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As always, thank you for your support and business.

Contact Michelle Ralston
Second Vice President, Team Leader | 888-523-5545, ext. 2015

Written by Bob Kane
June 2, 2022

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