MHProNews has learned from insurancejournal that Citizens Property Insurance Corp. in Florida is now accepting alternative valuation methods from owners of manufactured homes to ensure they are properly covered.

Manufactured home owners are encouraged to speak with their insurance agents to discuss possible improvements and upgrades to their homes as part of their coverage, which may also result in an adjustment to their premiums. Changes in valuation will be applied immediately.

As MHProNews reported April 26, 2013, Citizens, which then had policies on 130,000 factory-built homes, most of which were over 20 years old, reduced coverage on all homes built before 1994. The company began offering cash value instead of replacement cost in case of loss, with little reduction in premiums.

Citizens began sending the first of 100,000 postcards to their policyholders March 2, also allowing them the option to increase coverage for 25 percent more than the estimated value. Agents have been informed numerous times that alternative valuations are acceptable, and are given instructions on how to process changes in coverage. ##

(Photo credit: MHVillage-Lake Village, Nokomis, Florida)

   Article submitted by Matthew J. Silver to Daily Business News-MHProNews.