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Mobile homes and manufactured homes have unique insurance needs, and standard homeowner policies may not provide adequate protection. Florida mobile home insurance is specifically designed to cover your home, personal belongings, and liability, giving you peace of mind.
In Florida, mobile homes face risks such as wind damage, flooding, and theft. Having the right mobile home insurance ensures you’re protected against unexpected events, including storm damage, accidents, or liability claims.
Sometimes older mobile homes may not qualify for full replacement cost coverage, which can be a challenge if you’re financing your home with a mortgage. We can insure these homes at depreciated value, but it’s important to note that many lenders may not accept coverage at depreciated cost. Even in these cases, having mobile home insurance helps protect your home, belongings, and liability in the event of a loss.
replacement cost
replacement cost
Replacement cost insurance reimburses you for the full cost of repairing or replacing your home or belongings with materials of like kind and quality—without deducting for depreciation. For example, if a storm damages your mobile home, replacement cost coverage pays to rebuild it using new materials, up to the policy limits. This type of coverage is ideal for newer homes or those financed with a mortgage, as lenders often require replacement cost coverage.
depreciated cost
depreciated cost
Actual cash value (depreciated cost) coverage reimburses you for the current value of your home or belongings, taking depreciation into account. This means the payout is reduced to reflect age, wear, and tear. For older mobile homes or items, this can significantly lower the amount you receive after a loss. While this option still provides protection, many lenders may not accept actual cash value coverage for financed homes, which can be a challenge when securing a mortgage.
Which One Is Right for You?
Replacement cost is generally preferred for newer homes and mortgage-financed properties.
Actual cash value can still provide coverage for older homes or when replacement cost is not available, but it may not satisfy lender requirements.
We can help Florida homeowners understand their options and choose the coverage that best fits their home, budget, and lender requirements.
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