I am buying a park that has 8 park owned homes, 90’s homes. Nothing great but not dumps. The current owner does not have insurance on them. And it got me to thinking. Do I really need insurance on all my used older homes? Does anyone forgo insurance?
If you rent them out, then I suggest you insure them.
Here’s why:
This is my park and that was a POH that I was renting. I am just waiting for the lawsuit… ugg. Yes, I am insured.
If they are vacant and you plan to fix and flip them thats a little different story. I typically do not insure POHs that I am fixing and flipping.
I did find it weird they were not insured. Sorry for your fire.
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