Tiny homes are increasingly popular in Idaho and other states across the US. These smaller homes, typically less than 400 square feet, offer an affordable and sustainable living option for many people. However, insuring a tiny home with Harrison Insurance and Financials LTD serving Hailey, ID can be different than insuring a traditional home, and it’s important to understand the details before you make a purchase.
Personal Property or Real Property?
First, it’s important to note that tiny homes can be considered either personal property or real property. Personal property includes items that are movable, such as furniture and appliances, while real property includes the land and any structures built on it. In the case of a tiny home, it’s considered personal property if it is on wheels and can be moved, and real property if it is permanently attached to a foundation.
Insuring a Tiny Home as Personal Property
If your tiny home is considered personal property, it can be insured under a standard homeowners insurance policy, but it will be classified as a "mobile home" or "manufactured home." This type of policy typically covers the structure and its contents, as well as liability for injuries or damage caused by the home.
Insuring a Tiny Home as Real Property
If your tiny home is considered real property, it will be classified as a single-family home and can be insured under a standard homeowners insurance policy. This policy type usually covers the structure and its contents, as well as liability for injuries or damage caused by the home.
Give Us A Call
When insuring a tiny home, be sure to consider any additional coverage you may need, such as coverage for detached structures, like sheds or garages. Your representative at Harrison Insurance and Financials LTD serving Hailey, ID can help make sure that you have the right protection for your tiny home. Contact us today.