Tiny houses are usually under 500 feet, that’s about the size of a small city apartment and one-sixth the size of a single-family home today. So if you’re looking to build or buy a tiny house, it’s a good idea to insure it. Some tiny transportable houses are subject to a higher crime rate and are generally more vulnerable to natural disasters than traditional homes.

And since the tiny home movement is fairly new, you may not know about the range of coverage options available. For example, insurance for tiny transportable homes will cover damage from animals and other vehicles as well as cover medical insurance for injured passengers. Plus, whether your tiny home is transportable or not, insurance could cover property theft, fires, weather-related incidents, and much more.

Factors That Influence Coverage

However, the price depends on the type of tiny home and your personal coverage needs, among other things. According to Investopedia, how much insurance you'll need relies on the following factors:

·         Construction, dimensions, and total value 

·         Value of possessions 

·         RVIA/NOAH certifications 

·         Use of property 

·         Coverage choices and any extras 

·         Claims history 

·         Credit history  

Insurance for Transportable Homes  

Before anything, you must know that tiny homes aren’t covered by typical home insurance and don’t require any by law. Additionally, coverage options are differentiated by whether the house is transportable or stationary. Some insurers may not offer coverage at all if you’re on the road all the time. A home on wheels is considered too risky to insure.

So in the case of transportable houses, they’re offered similar benefits as RV insurance; the two are essentially interchangeable. Still, it's possible to obtain travel insurance for recreational tiny homes. Just be sure to take into account that insurers determine how much is covered by the number of miles traveled.

Full-time mobile insurance is pricier but necessary if you’re living out of your tiny house on wheels versus recreational use alone. Additionally, tiny transportable homes should be RVIA-certified to qualify and - in certain states - may require liability coverage.

Insurance for Stationary Homes 

As noted above, tiny transportable houses are trickier to insure than stationary ones. Nevertheless, all constructed homes should be inspected by an ANAB-certified company. On the ANSI National Accreditation Board’s website, you’ll find accredited companies that’ll ensure your tiny house satisfies local and state safety, energy efficiency, and building codes.

Stationary housing needs mobile or manufactured home insurance depending on if it's transportable or built on a foundation. It’s more closely aligned with the benefits of traditional home insurance, too. You’ll find insurers that’ll treat your tiny home the same as any traditional home with deductibles for loss or damaged possessions and property, the loss of use, liability for visitor injuries, etc.

And if you’re wanting to build a tiny house, now would be the time to explore your insurance coverage options before you make any design decisions. As mentioned before, how much coverage that’s needed also depends on how tiny houses are constructed. This means that before you can get coverage at all, some insurers will require stationary tiny homes to be factory-made or ANAB-certified.

Costs to Insure a Tiny Home 

The average insurance coverage for tiny houses, according to an ANAB-certified inspection company, is 850 per year, no more than 1000.  This is a national average so the amount to insure can vary by your location especially in places like Long Island, NY where you may be close to the water.

If using a loan to cover construction costs, you’ll likely need to put money down before you’re covered. All in all, when considering insurance policies, consider the tiny home’s use and the coverage that’s most important to you. Doing so will guarantee that you’re covered in all the right places.