Posted by Jerry Greene on January 17, 2005 at 20:48:41:
I am in the process of completing my first “Lonnie” deal: bought an older trailer cheap, advertised it as a handyman special, and have an interested buyer. I am planning on financing the sale of the trailer and am requiring the buyer to have insurance on the mobile home.
What type of insurance is needed - just fire insurance, or a more comprehensive homeowner’s insurance and also, what about renter’s insurance for the contents of the mobile home?
Also, what companies are good to deal with? This is a 1969 Valiant 2 bedroom trailer in need of some rehab work -will it even be insurable?! Any advice or comments are welcome - thank you!