What is the difference between a HO3 and a DP1 insurance policy for a mobile home owner in Florida?
Total Comments: 10
Posted: Tue Apr 27, 2010 04:09 pm Post Subject:
I don't believe that either would be available for a mobile home...they normally can only get a mobile home policy. Is this a manufactured (not true mobile) home? Some of them will qualify for a true homeowner's policy.
InsTeacher 8)
Posted: Tue Apr 27, 2010 04:11 pm Post Subject:
It is a double wide true mobile home built in 1990, a Fleetwood. We are dealing with Citizen's. I have had a HO3 for the past 13 years.
Posted: Wed Apr 28, 2010 04:43 am Post Subject:
OK, cool. Up in our neck of the woods, that would never happen. To your specific question, there's a world of difference between a HO3 and DP1.
First of all, a DP form is commonly called a "dwelling fire" form, and form 1 is the "least" of them. There are DP 1,2 and 3 forms, a "basic," a "broad" and a "special" form. These forms are commonly referred to as "landlord's" policies as these are what most people who own rental dwellings purchase. The DP1 is a "named perils" policy and only protects the dwelling against these most basic causes of loss: fire, lightning and internal explosion. You can "add" what's called "extended perils" coverage for an additional premium, and then you also get coverage for wind, hail, aircraft, riot, vehicle damage, explosion and smoke. For even more premium, you can get coverage for vandalism and malicious mischief.
Note that DP policies rarely provide coverage for any contents; your personal property. This coverage needs to be endorsed onto the policy in order for you to have any protection for your stuff. A few companies grant a minimal amount of coverage for "landlords furnishings," but you aren't a landlord. As well, you'll likely have to add liability coverage, again at additional premium.
The HO3 contract gives you all of that stuff listed above plus a whole lot more. Open Perils coverage instead of Named Perils coverage, automatic coverage for your contents and personal liability as this is included in the package of coverages plus a bunch of other stuff automatically in the contract.
After you add in all the additional "ala carte" stuff in a fire dwelling form 1, the premium's gonna be roughly the same as the HO3 policy in most areas. I would absolutely go with the homeowner's policy if I could get it.
No question.
InsTeacher 8)
Posted: Wed Apr 28, 2010 12:22 pm Post Subject:
Problem is they want $1900 for the HO3 and $1070 for the DP1. I was paying $968.00 for a HO3 before I was cancelled. I put in a claim for water around my home that was there prior to my purchasing home in 1999. I do not own the land. I thought there may br mold in the house. Thought if insuranve vompany came out, it would force park owner to take some action. Instead they send the same adjuster who came after Wilma. He took pictures of nothing relevent to my claim for which i was not covered for standing water and any mold in the hone was never even addressed. The pcitures he took he triend to say were the same unrepaired damages from Wilma which of course they were not and showed receipts for all the repairs. THey still cancelled me. Even when I proved that the adjuster was a liar as he said in his report "the insured showed". There was no insured present. He assumed the same way he assumed repairs were not done. I had another adjuster come out, who admitted in his report, repairs were done, but then this one goes on the roof, (which I never should have let him) and decided the roof was never done correctly and the roof is leaking. Where it's leaking is beyond me as I have no leaks. So I had to get other insurance since I still have a morgage. I really have no choice but to go with the DP1 as it is certainly more affordavle, We're talking about a 1990 georgeous home, but still a 1990. If they didn't give me they didn't total it after Wilma which would have been about $20,000 worth they gave me $16,000. GUess I should have had a PA come in and got me out of the place but was not aware of their existance at the time.
Posted: Sat May 01, 2010 03:51 am Post Subject:
You have encountered the difficulty of obtaining coverage after being cancelled. If you believe you are being taken advantage of, you can apply to your state's FAIR plan. Generally, you need to do this through an agent or broker specifically appointed with the FAIR plan. But a good broker can probably place your business with a mainline insurer for less than the $1900 you've been quoted.
Aside from that, is there any possibility of mitigating the standing water issue you are facing? Perimeter drains around the foundation or something like that?
Posted: Mon May 03, 2010 12:11 pm Post Subject:
What is the Fair Plan? I have never heard of that and would certainly qualify for that.
As far as the water goes, I have two reports from adjusters that say there is damage to my home as the land has caused the house to settle, and of course there is no coverage for double wides literally coming apart at the seams. If I were to mitigate, the park would surely find a way to evict me and or make my life totally miserable. Maybe, before I am ready to move I will take that course. There are not many attorneys that would take this on pro bono which is how I would have to go. I know the litigation would take forever.
Posted: Mon May 03, 2010 08:05 pm Post Subject:
Now that you've added information about the land having subsided, your situation is more tenuous. What is the cause of the sibsidence? Rainfall, poorly graded subdivision, mere movement of earth?
The FAIR plan (Fair Access to Insurance Requirements) has been instituted in most states as a means to property insurance as the "last resort" for those who have made a "diligent" attempt to obtain insurance.
In many cases, homeowners cannot obtain property coverage because they live in an area designated as a fire zone. Many insurers will refuse to provide coverage, other may have exorbitant rates one cannot afford. The FAIR plan is very similar to "assigned risk" in auto insurance, and forces all insurers to accept these risks on a "market-share" basis. If an insurer has 2% of the standard risk market, they'll only get 2% of the FAIR plan risks.
The standing water, and subsidence issues are different. No homeowner's policy protects against earth movement (save for an earthquake policy, and that's a different sort of earth "movement" than mere sinking of the ground). Standing water could be akin to having built in a flood plain, and would als0 not be covered.
I think there's more to the story here than simply being cancelled.
Posted: Fri Nov 05, 2010 03:47 pm Post Subject: Insurance for Florida Mobile home
I live in Florida and sell Homeowner's insurance. You have to generally be up to 3 miles from any body of water to write a Mobile home with anyone other than Citizens. Just about all of my risks are with Citizens because we don't have any markets that will write close to the water that are standard.
Posted: Mon Nov 08, 2010 11:27 am Post Subject: HO3 when available
As an agency owner I would always make my insured get an HO3 unless they were in a remote location or had an older mobile home that wouldn't be eligible for the HO3 policy. 1990 home shouldn't preclude you from coverage other than Citizens if you know where to look and depending on county location. I don't have an agency appointment to write them but I believe Safe Harbor is still writing homes pre 1994.
Posted: Mon Nov 08, 2010 11:27 am Post Subject: HO3 when available
As an agency owner I would always make my insured get an HO3 unless they were in a remote location or had an older mobile home that wouldn't be eligible for the HO3 policy. 1990 home shouldn't preclude you from coverage other than Citizens if you know where to look and depending on county location. I don't have an agency appointment to write them but I believe Safe Harbor is still writing homes pre 1994.
Posted: Tue Apr 27, 2010 04:09 pm Post Subject:
I don't believe that either would be available for a mobile home...they normally can only get a mobile home policy. Is this a manufactured (not true mobile) home? Some of them will qualify for a true homeowner's policy.
InsTeacher 8)
Posted: Tue Apr 27, 2010 04:11 pm Post Subject:
It is a double wide true mobile home built in 1990, a Fleetwood. We are dealing with Citizen's. I have had a HO3 for the past 13 years.
Posted: Wed Apr 28, 2010 04:43 am Post Subject:
OK, cool. Up in our neck of the woods, that would never happen. To your specific question, there's a world of difference between a HO3 and DP1.
First of all, a DP form is commonly called a "dwelling fire" form, and form 1 is the "least" of them. There are DP 1,2 and 3 forms, a "basic," a "broad" and a "special" form. These forms are commonly referred to as "landlord's" policies as these are what most people who own rental dwellings purchase. The DP1 is a "named perils" policy and only protects the dwelling against these most basic causes of loss: fire, lightning and internal explosion. You can "add" what's called "extended perils" coverage for an additional premium, and then you also get coverage for wind, hail, aircraft, riot, vehicle damage, explosion and smoke. For even more premium, you can get coverage for vandalism and malicious mischief.
Note that DP policies rarely provide coverage for any contents; your personal property. This coverage needs to be endorsed onto the policy in order for you to have any protection for your stuff. A few companies grant a minimal amount of coverage for "landlords furnishings," but you aren't a landlord. As well, you'll likely have to add liability coverage, again at additional premium.
The HO3 contract gives you all of that stuff listed above plus a whole lot more. Open Perils coverage instead of Named Perils coverage, automatic coverage for your contents and personal liability as this is included in the package of coverages plus a bunch of other stuff automatically in the contract.
After you add in all the additional "ala carte" stuff in a fire dwelling form 1, the premium's gonna be roughly the same as the HO3 policy in most areas. I would absolutely go with the homeowner's policy if I could get it.
No question.
InsTeacher 8)
Posted: Wed Apr 28, 2010 12:22 pm Post Subject:
Problem is they want $1900 for the HO3 and $1070 for the DP1. I was paying $968.00 for a HO3 before I was cancelled. I put in a claim for water around my home that was there prior to my purchasing home in 1999. I do not own the land. I thought there may br mold in the house. Thought if insuranve vompany came out, it would force park owner to take some action. Instead they send the same adjuster who came after Wilma. He took pictures of nothing relevent to my claim for which i was not covered for standing water and any mold in the hone was never even addressed. The pcitures he took he triend to say were the same unrepaired damages from Wilma which of course they were not and showed receipts for all the repairs. THey still cancelled me. Even when I proved that the adjuster was a liar as he said in his report "the insured showed". There was no insured present. He assumed the same way he assumed repairs were not done. I had another adjuster come out, who admitted in his report, repairs were done, but then this one goes on the roof, (which I never should have let him) and decided the roof was never done correctly and the roof is leaking. Where it's leaking is beyond me as I have no leaks. So I had to get other insurance since I still have a morgage. I really have no choice but to go with the DP1 as it is certainly more affordavle, We're talking about a 1990 georgeous home, but still a 1990. If they didn't give me they didn't total it after Wilma which would have been about $20,000 worth they gave me $16,000. GUess I should have had a PA come in and got me out of the place but was not aware of their existance at the time.
Posted: Sat May 01, 2010 03:51 am Post Subject:
You have encountered the difficulty of obtaining coverage after being cancelled. If you believe you are being taken advantage of, you can apply to your state's FAIR plan. Generally, you need to do this through an agent or broker specifically appointed with the FAIR plan. But a good broker can probably place your business with a mainline insurer for less than the $1900 you've been quoted.
Aside from that, is there any possibility of mitigating the standing water issue you are facing? Perimeter drains around the foundation or something like that?
Posted: Mon May 03, 2010 12:11 pm Post Subject:
What is the Fair Plan? I have never heard of that and would certainly qualify for that.
As far as the water goes, I have two reports from adjusters that say there is damage to my home as the land has caused the house to settle, and of course there is no coverage for double wides literally coming apart at the seams. If I were to mitigate, the park would surely find a way to evict me and or make my life totally miserable. Maybe, before I am ready to move I will take that course. There are not many attorneys that would take this on pro bono which is how I would have to go. I know the litigation would take forever.
Posted: Mon May 03, 2010 08:05 pm Post Subject:
Now that you've added information about the land having subsided, your situation is more tenuous. What is the cause of the sibsidence? Rainfall, poorly graded subdivision, mere movement of earth?
The FAIR plan (Fair Access to Insurance Requirements) has been instituted in most states as a means to property insurance as the "last resort" for those who have made a "diligent" attempt to obtain insurance.
In many cases, homeowners cannot obtain property coverage because they live in an area designated as a fire zone. Many insurers will refuse to provide coverage, other may have exorbitant rates one cannot afford. The FAIR plan is very similar to "assigned risk" in auto insurance, and forces all insurers to accept these risks on a "market-share" basis. If an insurer has 2% of the standard risk market, they'll only get 2% of the FAIR plan risks.
The standing water, and subsidence issues are different. No homeowner's policy protects against earth movement (save for an earthquake policy, and that's a different sort of earth "movement" than mere sinking of the ground). Standing water could be akin to having built in a flood plain, and would als0 not be covered.
I think there's more to the story here than simply being cancelled.
Posted: Fri Nov 05, 2010 03:47 pm Post Subject: Insurance for Florida Mobile home
I live in Florida and sell Homeowner's insurance. You have to generally be up to 3 miles from any body of water to write a Mobile home with anyone other than Citizens. Just about all of my risks are with Citizens because we don't have any markets that will write close to the water that are standard.
Posted: Mon Nov 08, 2010 11:27 am Post Subject: HO3 when available
As an agency owner I would always make my insured get an HO3 unless they were in a remote location or had an older mobile home that wouldn't be eligible for the HO3 policy. 1990 home shouldn't preclude you from coverage other than Citizens if you know where to look and depending on county location. I don't have an agency appointment to write them but I believe Safe Harbor is still writing homes pre 1994.
Posted: Mon Nov 08, 2010 11:27 am Post Subject: HO3 when available
As an agency owner I would always make my insured get an HO3 unless they were in a remote location or had an older mobile home that wouldn't be eligible for the HO3 policy. 1990 home shouldn't preclude you from coverage other than Citizens if you know where to look and depending on county location. I don't have an agency appointment to write them but I believe Safe Harbor is still writing homes pre 1994.
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