Industry Magazine Grand General Agency Fall 2016 | Page 25

SOURCE OF INCOME

A “NEW” OLD SOURCE OF INCOME
Looking at Manufactured Homes

“MANY MANUFACTURED HOME OWNERS ARE UNSURE OF WHAT INSURANCE
THEY NEED OR WHY, JUST AS THEY ARE WITH OTHER FORMS OF INSURANCE. “
IN all likelihood, there is a ready source of income very near
your office. This is a source of income that is often overlooked,
but it tends to be lucrative and easy to work. I’m talking about
manufactured homes.
Manufactured homes have been around for a long time and
have gone by many names. In addition to “manufactured homes,”
you may have heard them called “mobile homes” or even “trailers.”
Manufactured homes have come a long way from their humble
beginnings as actual “mobile” homes to today’s very large, wellbuilt, attractive homes. They can also be a gold mine for the
insurance agent who is willing to get out of his or her chair and go
outside.
There are numerous ways to go after this segment of the market.
One effective way is to get to know the manager of a mobile home
park. Ask for permission to put up a sign and leave some business
cards in the manager’s office. Managers want their lot renters to
have insurance because it is a lot safer for the managers. They
have a lower risk of a burned home being abandoned, a lower risk
of vacancy if a home is damaged for whatever reason, and some
liability protection for the park.
Another great technique is going door-to-door. You can reach
hundreds of manufactured home owners in an afternoon. You can
even hire someone to put door hangers out on your behalf (though
we do recommend getting the park manager’s permission ahead
of time). In addition to the average home insurance premium of
approximately $400, manufactured home owners have vehicles

FALL 2016

and furnishings and special events, all of which need insurance.
You can be their advisor for their entire portfolio. (By the way,
Grand General has door hangers from Aegis Security that we
would be happy to provide to you, free of charge.)
Once you reach one or two individuals in a park and show
what a great job you do, ask to be introduced to a neighbor or
two. It’s a close community. Word of mouth is the best referral.
Companies that specialize in working with manufactured
homes and their occupants have put together programs for
nearly every home. Coverage is available for a manufactured
home of any age. The coverage can be obtained on a cash
value or a replacement cost basis. The home can be in a mobile
home park or on private property. It can be owner occupied,
a primary or seasonal residence, or even rented to others.
There is even coverage available for the tenant who rents a
manufactured home.
Many manufactured home owners are unsure of what
insurance they need or why, just as they are with other forms
of insurance. You can help them avoid potentially devastating
situations by offering free advice. By working with a
wholesaler who knows the manufactured home business like
Grand General, you can be sure to offer your customers the
best solution for their needs.

www.thehelpfulpeople.com/manufactured-home

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