Are losses from previous owners considered for a new Manufactured Home policy?

In the context of a new Manufactured Home policy, losses incurred by previous owners are not considered. This approach is based on the principle that insurance policies are designed to cover risks associated with the current owner and their specific circumstances. By not factoring in prior losses, the policy ensures that the assessment of risk and subsequent premiums are based on the current owner's situation, which may differ significantly from that of previous owners.

This distinction helps to maintain clarity in underwriting and risk management. It allows the insurer to evaluate factors such as the current condition of the home, its maintenance history under the current owner, and the current owner's claims history without the complications of past events that are irrelevant to the current ownership. Therefore, the policy is tailored to the present, effectively protecting the interests of both the insurer and the new homeowner.