mobilehomerepair.com

I know this is really off topic, but I'm not sure where else to turn. I have a seasonal 1972 MH in FL and have insurance with Citizen's. I was talking to another insurance agent today and they where talking about "dwelling" insurance, instead of homeowners (still with Citizen's). It would decrease my premium by over 60%. The only thing is that it does not cover any personal loss due to theft. Has anyone ever heard of this?

Hi Davey,

I can not really answer your question. We have another member, "Sylvia", she handles insurances but not sure if it is homeowners. Nonetheless might be able to give you some info or others here on site.

I am going to move this thread to the Off Topic forum as it is not repair related.

Yanita

Dave,
Here's a link http://www.solveyourproblem.com/insuran ... ance.shtml

You may want to investigate having contents insurance covered on a separate policy if they want to go that route. It's possible that they'd give you a multi line discount. It could be cheaper that way, at least I've seen stranger things happen.

Depending on what your possesions are worth I'd reconsider only having a dwelling policy. A dwelling policy is also referred to as a landlord policy. It's the kind of policy we have on the home that we have next door that we rent out. A regular HO policy covers a certain amount of possessions stored at a different location.
Personally, I believe the stuff IN our house is worth probably as much as our house. But then again we have pretty expensive toys. (or at least DH does)

They way she explained it is that the contents would be covered in the event of a fire, hurricane, etc, just not due to theft. I asked her about a situation where a theft occurred and a fire was started, she said in that case everything would be covered. Since this MH is only used about 3 months per year, the value of the contents is minimal. My only concern would be when we are there and the stuff we bring; computer, etc. My policy with Citizen’s has a $1000 premium for a $15000 MH. Switching to a dwelling policy would cost me $410 a year. The savings in one year would offset any loss of theft I have. I’m really not seeing much of a downside.

Sylvia wrote:Dave,
Here's a link http://www.solveyourproblem.com/insuran ... ance.shtml

You may want to investigate having contents insurance covered on a separate policy if they want to go that route. It's possible that they'd give you a multi line discount. It could be cheaper that way, at least I've seen stranger things happen.

Depending on what your possesions are worth I'd reconsider only having a dwelling policy. A dwelling policy is also referred to as a landlord policy. It's the kind of policy we have on the home that we have next door that we rent out. A regular HO policy covers a certain amount of possessions stored at a different location.
Personally, I believe the stuff IN our house is worth probably as much as our house. But then again we have pretty expensive toys. (or at least DH does)

That would be a normal HO policy with a theft exclusion not a different sort of policy.

Sylvia wrote:That would be a normal HO policy with a theft exclusion not a different sort of policy.

That's just what she told me. You mentioned a policy on the house you rent out. If that house was distroyed a fire (maybe caused by faulty wiring), tornado, etc, would your policy cover the renter's personal effects?

Hi davery5872

Older Florida native here. Lots of first hand Florida homeowners insurance experience.

The $15,000.00 coverage is probably Actual Cash Value (ACV) and not Replacement Value.

I would check on is what method Citizens will use to determine Actual Cash Value (ACV). Various methods to determine ACV have been used on Florida homeowners. Lots of folks have hired lawyers and still do not recover what they think they should.

You don't want to find out later Citizens says the value of your 1972 NH is only $4,000.00.

When it comes to Florida insurance .... beware.

Harry

They actually came up with the $15000 figure, I wanted to insure it for about $10000. I was told they have a formula using the square footage to determine the insured amount. But that being said, I will ask about in the case of a total loss, how they determine the payout amount. I'm not really concerned about the replacement cost. If something happened we would just take the money and buy a condo. If we could sell the MH, we would do that now. Thanks for the info.

Harry wrote:Hi davery5872

Older Florida native here. Lots of first hand Florida homeowners insurance experience.

The $15,000.00 coverage is probably Actual Cash Value (ACV) and not Replacement Value.

I would check on is what method Citizens will use to determine Actual Cash Value (ACV). Various methods to determine ACV have been used on Florida homeowners. Lots of folks have hired lawyers and still do not recover what they think they should.

You don't want to find out later Citizens says the value of your 1972 NH is only $4,000.00.

When it comes to Florida insurance .... beware.

Harry

No, renters would need to get their own renters policy to have thier possessions covered.

In our particular situation though, this particular home is fully furnished already, so the renters (which will be my son, his girl and thier baby to be) may be considered covered on our own HO policy.