According to the Manufactured Housing Institute, the 8.5 million mobile/manufactured homes with about 20 million people living in them comprise about 6.4% of the U.S. housing sector. Affordability is key: about 70% of all new single-family homes sold for under $125,000 are manufactured. And they're especially popular in warmer climates–for example, about 18% of South Carolina's homes are mobile or manufactured.
We spoke with Scott McDermott, product manager, residential products at American Modern about the unique vulnerabilities in this housing sector. Click on the following pages for a Q&A with McDermott on market trends and tips for agents writing this coverage.
What are the major trends impacting the mobile home insurance market?
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