Florida’s mobile home market is facing a crisis after American Mobile Insurance Exchange, a leading insurer, canceled over 1,100 policies and withdrew from the market, citing deteriorating financial conditions and high reinsurance costs. The move has left many homeowners scrambling to find alternative coverage, with some agents reporting that they can find very little available coverage, especially for older mobile homes. The situation has been exacerbated by other insurers limiting coverage to newer mobile homes, leaving Citizens Property Insurance Corp. as one of the few remaining options for older homes. The crisis highlights the ongoing challenges facing Florida’s property insurance market, including rising reinsurance costs and litigation.
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