In our last blog, we discussed the most essential types of insurance that nearly everyone needs. However, there are many other policies that, while not as widely required, play an important role for certain people. For example, fewer people own an RV than a home, which means society as a whole may not recognize the importance of RV insurance. If your living arrangements or lifestyle require one or more of these specialized insurance policies, they can easily become some of your most impactful protections. Remember, these specialized insurance policies are in no way any less vital for those who need them; instead, they are just less common overall, and working with experienced insurance agents is the most effective and least stressful way to secure the best policy possible.
Mobile Home Insurance
If you live in a mobile home, your specialized insurance needs differ from those of a traditional homeowner. Mobile home insurance typically covers similar things, like the structure and personal belongings, but policies vary significantly. Because of how disastrous hurricanes and their aftereffects can be, make sure your policy provides adequate coverage for damage caused by those weather events. Mobile home insurance often requires special endorsements for these risks.
Don’t Forget: Another vital aspect that you may not have reviewed in years: the valuation method. Does your policy provide actual cash value or replacement cost coverage? Replacement cost coverage can be a lifesaver if your home is severely damaged, as it covers the cost to replace the home without factoring in depreciation.
Condo Insurance
Condo living comes with its own set of unique insurance challenges from simply owning a home. Your condo association likely has a master policy that covers the building structure and common areas, similar to the situation renters are in, but it’s up to you to protect everything inside the property itself, as well as any upgrades you make. Condo insurance should ideally cover the interior structure sufficiently regarding added improvements like kitchen or bathroom upgrades.
Plus, pay attention to the association’s deductible—if it’s exceptionally high, you may want loss assessment coverage to help cover your share if there’s a significant claim against the building. Florida law requires a low limit of just a few thousand dollars in coverage, so going beyond this requirement can give peace of mind for any upcoming significant storms or disasters that cause damage.
Recreational Vehicle (RV) Insurance
RV owners serve both as transportation and as a home on wheels for extended trips or vacations. Sometimes, it is a primary home in and of itself. As a result, your RV insurance for 2025 should include adequate coverage for both its functions, such as comprehensive and collision coverage, property protection, and even liability insurance. RV owners should also make sure they have some form of specialized roadside assistance if they need help to repair their complex vehicles when far away from their home base.
Boat and Golf Cart Insurance
Florida is a unique place where certain forms of insurance that may be unheard of in other states are actually quite common. Boat and golf cart insurance are great examples of this. With Florida’s extensive coastline and many boating communities, owning a boat is far more common than in many other parts of the country. The same goes for golf carts, often used on the golf course as well as in residential neighborhoods. Since these vehicles represent a significant investment, it’s always wise to protect them appropriately, both against physical damage and liability concerns for your or other family members driving them.
As you plan for 2025, think about whether any of these specialized coverages apply to your situation or whether you may make life changes that make them relevant going forward. Then, call Anderson & Associates Insurance Group to speak with one of our experienced insurance agents to review your needs and make sure you’re fully prepared for the year ahead.
