Mobile Home Insurance in Florida

Mobile Home Insurance in Florida

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Mobile home insurance is optional in Florida, however, mortgage companies will often require you to get mobile home insurance as a prerequisite for a loan. Whether it's required or not, getting mobile home insurance in Florida ensures you have financial protection should your home be damaged.

Mobile home insurance quotes in Florida vary among insurance companies, so you should compare quotes before signing up for coverage.

Do I need mobile home insurance in Florida?

Florida law doesn't require people to buy mobile homeowners insurance. However, many lending institutions will require mobile home insurance before issuing a mortgage.

Furthermore, mobile home insurance is typically required if you place your home in a mobile home community or park. Therefore, while it's not a legal requirement, only people who wish to purchase a mobile home outright and place it on private property will be able to skip mobile home insurance.

In either case, mobile home insurance is meant to protect against large financial losses, and it's advisable to get coverage.

Unique considerations: Florida mobile home insurance

Of all states in the U.S., Florida has had the greatest number of mainland hurricane strikes to date. Due to this, residents should be prepared to deal with flood and wind damage to their homes. A standard mobile home insurance policy doesn't offer any coverage for flood damage, so residents should consider purchasing flood insurance. A Florida law dictates that property insurance policies must include coverage for wind damage from a storm that is deemed a hurricane by the National Hurricane Center.

Mobile home insurance policies may include a deductible that is specifically for damage caused by a hurricane and is set by Florida law. In other words, if you're filing a claim due to hurricane damage, you would pay a different deductible than you would for any other claim.

What does mobile home insurance in Florida cover?

The coverage that you receive with mobile home insurance is largely similar to the coverage offered by a homeowners insurance policy. Both forms of insurance typically provide liability protection and coverage for the structural elements of your home and your personal belongings.

Oftentimes, policyholders can customize their policies with supplemental coverage, or endorsements, for an extra cost. Additionally, most insurance companies in Florida will allow you to increase or decrease coverage limits as you see fit. Descriptions of the main coverages offered by mobile home insurance policies are provided below.

Dwelling Coverage: A mobile home insurance policy provides coverage for permanently affixed components of your mobile home. If your home's walls cave in as a result of strong winds, your mobile home insurance policy would pay to fix the damage to your home. Other features of your mobile home that are covered include your home's roof and deck.

Personal Property: This coverage protects your personal belongings from damage or theft whether the incident occurs inside or outside of your mobile home. Items that fall under personal property can include bicycles, furniture and electronics. For instance, if your TV is stolen, your mobile home insurance would provide coverage as long as you're willing to pay the deductible.

Liability Protection: This coverage keeps you protected in case you're legally liable for property damage or bodily injury. For example, if a tree on your lot falls onto a neighbor's mobile home, you'd be held liable for the damage to their home. In this scenario, your personal liability coverage would protect you against any associated costs, up to your coverage limit.

Other Structures: This coverage provides protection for structures that are on the same lot as your mobile home but not attached to it. For instance, if your detached garage is knocked over due to a covered peril, you could submit an insurance claim.

Additional Living Expense: Imagine that your mobile home is damaged to the point that you can't live in it while repairs are being made. In this instance, your policy's additional living expense coverage would provide you with financial compensation for the costs associated with living away from home, such as hotel expenses.

Mobile home insurance companies in Florida

Most well-known insurers, like State Farm or Allstate, offer mobile home insurance. Smaller providers write mobile home insurance for Florida's homeowners, too. Companies like American Traditions Insurance Company, Foremost and Citizens Property Insurance actually supply the most policies for people living in Florida.

However, customers will be ineligible to renew their policies with Citizens if they receive private-market offers for comparable coverage with premiums less than or equal to their Citizens renewal premium. Currently, Citizens is typically one of the most expensive options for mobile home insurance.

Some of the top mobile home insurance companies may require you to contact an agent or company representative to purchase coverage, especially in Florida where nearby bodies of water may present a flood risk.

Mobile home insurance rates in Florida

Mobile home insurance quotes in Florida will vary depending on multiple factors, including your home's location, value, age and the coverage limit. Below, we provide a sample quote for a mobile home in Jacksonville, Florida, for varying dwelling coverage limits to showcase how different coverage limits impact your quote.

How Much Does Mobile Home Insurance Cost in Florida?
How Much Does Mobile Home Insurance Cost in Florida?

Keep in mind that you might receive lower or higher rates based on the aforementioned factors. Generally, mobile home insurance is more expensive than the cost of a homeowners insurance policy in Florida for a traditional-style home. That's because mobile homes are more susceptible to damage and therefore more costly to repair.

Mobile home insurance companies in Florida often offer discounts to homeowners who install wind-resistant features to their homes. However, the best way to save money on mobile home insurance is to shop around and compare quotes.

Unfortunately, shopping for mobile home insurance in Florida isn't easy. Some of the best mobile home insurance companies don't offer policies in Florida, including Geico and Progressive. To save time and money, consider contacting an independent agent in your area.

Joe Resendiz

Joe Resendiz is a former investment banking analyst for Goldman Sachs, where he covered public sector and infrastructure financing. During his time on Wall Street, Joe worked closely with the debt capital markets team, which allowed him to gain unique insights into the credit market. Joe is currently a research analyst who covers credit cards and the payments industry. He earned a bachelor’s degree from the University of Texas at Austin, where he majored in finance.

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.