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Insurance issues in a 55+ retiree MH park
Old 05-25-2022, 12:05 PM   #1
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Join Date: Jun 2014
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Insurance issues in a 55+ retiree MH park

My sister has just retired, is living in Pennsylvania and wants to relocate to a 55+ community in FLA. I'm renting here in a regular home, so she's been asking some questions I don't have the answers to.

Her focus is 55+, snowbird or year round, active adult communities with mobile homes.

We've mostly been discussing the "insurance crisis". I understand that with respect to a regular home, the property insurance must cover the cost of rebuilding/replacing the home...but how does it work with mobile homes? and it seems most retirees (and my sister) would purchase the mobile home with cash and then pay a monthly lot rent or monthly fee to a resident owned community.

Would the insurance cover the cost of buying her a new mobile home if there should be a natural disaster - or the depreciated value - like a car?

We've discussed that the insurance costs of the community may be raising, so the lot fees might go up sharply.

Any thoughts on property insurance for a mobile home park? THANKS
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