Many homeowners saying they have fewer options this year when it comes to looking for home insurance, especially if you're in a manufactured or mobile home.
This comes at a time when more of these types of homes are going up on the market.
More manufactured homes are going up for sale in North Fort Myers as homeowners say it's impossible to find insurance, and when they do, the rates are unaffordable, and that is forcing many to put the home up for sale.
Joyce and Don Hawley live in North Fort Myers and said their rates have risen dramatically.
State-run Citizens is the only company that would insure their manufactured home, and their rates are rising.
“It's gone up tremendously. What? One third more in one year's time, and I've talked to a lot of people that seem to think this same problem,” Don Hawley said.
Many of his neighbors are forced to go without insurance because of rising rates and fewer options.
“Who's to say that insurance isn't going to jump even more in another year,” Hawley stated.
American Mobile Insurance Exchange was the latest to pull out of Florida.
“They were a cornerstone piece of securing insurance coverage for manufactured homeowners. So, we're obviously upset to see them leave the market,” said Doug Nellans from The Insurancenter of Fort Myers.
Other companies are choosing not to renew policies.
“The challenge for insuring manufactured homes in Florida has always been, how well do these homes stand up against hurricanes? And the answer to that question is heavily influenced by the age,” Nellans explained.
He noted it can be nearly impossible for older homes to get insurance.
“For anybody that has a home prior to 1990 year built, they're still going to see continued challenges with pricing, with eligibility and also, getting the proper type of coverage,” Nellans said.
It's causing many to sell out as manufactured homes flood the market in Southwest Florida.
Selling and heading back north is something Don and Joyce are weighing.
“We haven't quite decided yet,” Don said.
As the home insurance market continues to drive people away.
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