Industry News

Homes subject to raft of risks

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

In this three-part series, Inman News examines floating homes, the lifestyle, the structures themselves, what's different and what's the same about living in these peculiar dwellings. The unique lifestyle aboard water-bound homes has been glamorized in Hollywood films and also stigmatized as radical and non-conformist. Today, floating-home communities have emerged as luxurious retreats from crowded cities and bland subdivisions while maintaining a tight-knit, bohemian crew of residents. (See Part 1: Waterfront real estate to the extreme and Part 2: The art of the floating home sale.) They sink, they tip over, they float into the next state – and that's just the beginning. Insuring conventional homes is tricky, but that's nothing compared to floating homes, according to an insurance industry professional. Asked what is the biggest drawback of insuring floating homes, Chris Jones, division manager of Portland, Ore.-based Red Shield Insurance Co., had a two-word answer: "They ...