Posted by nuc on April 16, 2006 at 23:39:42:
Good luck on finding ins. for a non-owner occupied home in florida. I own several parks and I haven’t had any luck yet getting full coverage. After the hurricanes these past 2 years it is impossible to find. Liability ins. is out there though. Just call around to diff. agents.
If it is your primary residence and not to old, you should be able to find ins.
HTH
Insurance for Keys Mobile Home… - Posted by bmeesh
Posted by bmeesh on April 16, 2006 at 17:38:55:
I am in negotiations for a mobile/land deal…I want to flip into my LLC…how would that work with insurance, if I can get it:) I am getting seller financing, and the seller would like to see some insurance, but it could be difficult, but I need to get some sort of policy so I can also get liability insurance as there is a renter in the home and I want to keep them their for now. Since this is in Florida Keys, we have a tricker situation with things…I would not owner occupy the unit, it would be a second home…need suggestions on covering myself…do I need my attorney to help me out here? The seller has insurance through a commercial policy he said, I wonder if there is a way to keep that since he would be holding the note? I am sure he would be amicable if I paid the premium…
Michele
Re: Insurance for Keys Mobile Home… - Posted by Daphne Lowe
Posted by Daphne Lowe on April 18, 2006 at 11:25:24:
I’m not sure about the LLC angle, but as an individual I don’t know why you’d have problems getting insurance, a large % of homes there are 2nd homes. The combined premiums (separate policies for flood, wind, and HO) may approach 5 figures but don?t get me started…
Shoot me an email and I’ll send you the ph# of my agent in Largo.
Daphne
Re: Insurance for Keys Mobile Home… - Posted by Ellen Brenn
Posted by Ellen Brenn on April 17, 2006 at 15:45:54:
Michele,
The ONLY company that you can get mobile home insurance in our county is Citizens, and I suspect that is also true for the Keys. Citizens will NOT put liability insurance on any property in an LLC or a trust. Therefore, since our mobiles are insured for actual damage, and we only hold them in our LLC with other mobiles, if someone were to look into suing the LLC they would not see enough $$ there to go further. In your case, though, the property in the Keys is worth much more than our mobiles in parks.
Ellen