Insuring manufactured homes which have undergone extensive renovations is often a problem. This is a post I made some time ago. I thought I would re post this for manufactured home owners in the Ft. Myers Beach and Bonita areas. There are many older homes in these parks which have upgrades not recognized by the insurance companies. This is my previous posting.
Many owners of manufactured homes whether on leased sites or fee simple run into problems getting insurance for enough to cover the loss of the home. Insurance companies strickly go by the book price which is very low for the older homes. Most owners have done extensive remodeling and upgrades which the insurance companies do not take into consideration. Having appraised both leased parks and fee simple manufactured homes in the area, it is apparent that most are no longer the original home. Owners who have a problem getting the correct amount of insurance can ask their agent if a certified appraisal would be accepted. An experienced appraiser applies and economic age rather than actual and also can make adjustments for upgrades. Typically insurance companies will accept the appraisal and insure based on the replacement cost indicated on the report. In the Southwest Florida area, there are few appraisers qualified for leased site parks. I was fortunate to spend 4 years with a specialist in this type of appraisal. I have the park data necessary to complete these assignments. If you have issues with the value on your insurance, talk to your agent and see if it is worth the price of an appraisal to get the correct replacement cost of your home.
I appraise manufactured homes in these areas: Sanibel, Bonita, Naples, Fort Myers, Port Charlotte and Punta Gorda.
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