yes you do because i did some reserch not long ago for my self thanks for asking

should somebody fall on your property – it should protect you from being sued and losing your home

had a gentleman canceled his insurance – on his $5 million estate
because the $15,000/yr was too much

he left his toaster on in the cupboard – - and half the house burned down

$15k vs $3 million – - -hmmmmmmmm

all the best

(don’t be pennywise and pound foolish)

You’re taking a huge risk if you don’t. Since it’s not financed, I don’t believe you do. But if a natural disaster were to happen, you will lose everything.

It may be required by the trailer park that it is located in. I would check with them, I assume you will be paying something to have the home "parked" there.

Also it is always a good idea to have insurance. Shop around for the best price and get a high deductible so the premiums will be less.

Your mother in law is wrong. Unless the trailer park requires you to carry the insurance (and they might), there isn’t any law out there that makes you carry homeowners.

It’s stupid not to, but you don’t have to.

The biggest risk isn’t the burning down – the most you can lose is the house and all your contents. The BIGGEST risk is the liability, if someone gets hurt, because there’s no "top value" depending on what happens – if the mailman slips on the step because you didn’t shovel or salt it, and breaks his leg, he can sue you for all the medical bills ($100,000 for a bad break or more) and lost wages for the rest of his life, plus suffering. Then HE will own your mobile home – and get a garnishment on your wages until, well, forever.

There isn’t any "average" price on insurance. It depends on how much coverage you have, where you are, which coverages you have, and in your case, how old the trailer home is.

But trailers are depreciating assets – I’d think very hard, before sinking a ton of money into something that will be worthless when it’s 25 years old.