What to look for in a mobile home insurance policy
You’ll likely have three options for claims payments when you buy a Florida mobile home insurance policy:
- Actual cash value: You’ll receive the amount needed to repair the home, taking into account depreciation. This will get you the least amount of reimbursement if you have a claim.
- Replacement cost: You’ll receive the amount needed to replace the damaged home, without depreciation factored in.
- Stated value: You’ll receive the amount stated in the policy if there’s a total loss, such as a fire or tornado that destroys the home.
Who sells mobile home insurance in Florida?
American Traditions is the biggest seller of mobile home insurance (with wind coverage) in Florida, with over 63,000 policies in force. Here’s a list of insurance companies that have mobile home policies with wind coverage in force in the state.
| Rank | Insurance company | Policies in force | Market share |
|---|---|---|---|
| 1 | American Traditions Insurance Co. | 63,584 | 25.66% |
| 2 | Foremost Insurance Co. | 37,723 | 15.23% |
| 3 | Florida Specialty Insurance Co. (this company was placed put into liquidation on Oct. 2, 2019, by the Florida Office of Insurance Regulation because it was operating in an "unsound condition") | 30,841 | 12.45% |
| 4 | Citizens Property Insurance Corp. | 28,060 | 11.33% |
| 5 | Safe Harbor Insurance Co. | 19,866 | 8.02% |
| 6 | American Integrity Insurance Co. of Florida | 15,463 | 6.24% |
| 7 | Foremost Property And Casualty Insurance Co. | 11,724 | 4.73% |
| 8 | American Reliable Insurance Co. | 8,801 | 3.55% |
| 9 | Florida Farm Bureau General Insurance Co. | 7,048 | 2.84% |
| 10 | Heritage Property & Casualty Insurance Co. | 6,067 | 2.45% |
| 11 | American Bankers Insurance Co. of Florida | 5,201 | 2.10% |
| 12 | American Southern Home Insurance Co. | 4,727 | 1.91% |
| 13 | U.S. Coastal Property & Casualty Insurance Co. | 3,655 | 1.48% |
| 14 | Southern Oak Insurance Co. | 1,830 | 0.74% |
| 15 | First Protective Insurance Co. | 1,569 | 0.63% |
| 16 | Avatar Property & Casualty Insurance Co. | 1,120 | 0.45% |
| 17 | Aegis Security Insurance Co. | 456 | 0.18% |
| 18 | Electric Insurance Co. | 8 | 0% |
| 19 | Indemnity Insurance Co. of North America | 5 | 0% |
| Source: Florida department of insurance, as of 2019 Q1 | |||
Typical coverage in a mobile home insurance policy
Mobile home insurance policies generally cover the structure and your personal property for these problems:
- Fire or lightning.
- Windstorm or hail.
- Explosion.
- Riot or civil commotion.
- Falling objects.
- Vehicles.
- Smoke.
- Theft.
- Volcanic eruption.
- Vandalism.
- Weight of snow, ice or sleet.
- Freezing of pipes (but not if you turned the heat off and left home).
American Traditions mobile home insurance in Florida
Here are the Florida mobile home insurance discounts available from American Traditions, up to a maximum discount of 15%
| Discount type | American Traditions discount |
|---|---|
| Mobile home meets ANSI/ASCE 7-88 standards adopted on 7/13/94, to withstand 110 mph winds | Base rate x 9% |
| Fire sprinkler | Base rate x 5% |
| Fire extinguisher/smoke alarm | Base rate x 5% |
| Water control device that detects leaks and shuts off water | Base rate x 3%-5%, depending on device functions |
| Membership in AARP, AAA or FMHO (Federation of Manufactured Home Owners of Florida) | Base rate x 5% |
| Retired/over age 50 | Base rate x 5% |
| Companion policy (mobile home plus flood insurance) | Base rate x 5% |
To buy mobile insurance in Florida from American Traditions, the mobile home must be your primary residence, can’t be vacant, and must have skirting or a fully enclosed foundation. It must have anchored tie-downs that meet state and local regulations. American Traditions won’t insure Florida mobile homes with existing damage, trampolines, trees touching the structure, aluminum wiring, vicious dogs such as pit bulls, and other circumstances.
Does Florida require mobile home insurance?
Florida law does not require insurance on mobile homes, but you could be required to have it by your mortgage lender or mobile home park.
What about wind-only coverage for mobile homes in Florida?
If you’re unable to buy a mobile home policy with wind coverage from a private insurer, you can buy wind coverage through Citizens Property Insurance Corp., the insurer of last resort in Florida.
What about sinkholes?
Common mobile home insurance policies in Florida include sinkhole coverage. This pays to stabilize the land and repair the home’s foundation. Make sure to check your own policy to confirm.
Is my carport insured?
Damage to aluminum carports often isn’t covered, nor is damage to awnings or aluminum-framed screened enclosures such as a lanai.
What additional mobile home insurance do I need?
Depending on what types of problems you want insurance for, you could consider:
Trip coverage: Covers the mobile home while it’s in transit. There may be a maximum trip length for coverage, such as 30 days.
Water backup of sewers or drains: For damage from water backup, which is generally not covered under a standard policy.
How to get cheap mobile home insurance in Florida
- Make sure you’re getting all the discounts you’re entitled to.
- Choose a higher hurricane deductible. (Some parts of Florida have a mandatory hurricane deductible on insurance policies.)
- Choose an actual cash value policy rather than a replacement cost policy. Be aware that this will result in lower payment if you have a claim.
- Excluding wind and hail coverage from your mobile home insurance will save you money but will leave your home unprotected.
- Comparison shop for mobile home insurance quotes to find the best deal.