This year, Florida’s property insurance market was expected to stabilize with moderate rate hikes and increased availability. However, the mobile home sector hasn’t benefited from these improvements. Insurance agents in Florida are now reporting that rising reinsurance costs have led at least one insurer to cancel coverage for mobile and manufactured homes. Finding coverage, especially for mobile homes older than two years, has become a challenge.
John Gardner from Lee County Insurance in Fort Myers, a significant player in the area, commented, “Our focus has been on manufactured and mobile homes, but the market in Florida has completely fallen apart.”

The issue started in March when American Mobile Insurance Exchange, based in St. Petersburg, notified Florida agents and policyholders that over 1,100 policies would be canceled in just 45 days. The cancellation was part of AMIE’s strategy to exit the mobile home market in Florida before the 2024 hurricane season due to financial troubles.
The notice stated that refunds for unearned premiums and subscriber surplus contributions would be issued on June 3, 2024, to help policyholders find replacement coverage. Agents will also need to return any unearned commissions from the canceled policies. Florida law generally requires a 120-day notice for cancellations, but a shorter period is allowed under certain conditions, including hurricane risk and insufficient reinsurance.
American Mobile’s CEO, Jeffrey LeGare, and other company representatives were unavailable for comment. The memo to agents mentioned that AMIE’s reinsurance costs exceeded the premiums collected for mobile home policies in Florida. Despite being relatively new, American Mobile had offered hope to the mobile home market when other insurers pulled back. However, financial issues had been apparent for some time. The company, part of K2 Insurance Services, was acquired by Summit Acquisition Inc. in April 2023. In November 2023, AMIE withdrew its plan to take over mobile home multiperil policies and lost its Demotech financial stability rating in April. A subsequent bulletin revealed a deal with American Traditions Insurance Co. to take over about 8,000 policies. However, American Traditions, which is rated “A Exceptional” by Demotech, has also limited coverage to newer mobile homes.
With other insurers also restricting coverage to newer homes, older mobile homes now face fewer options. Many agents are turning to Florida’s state-backed Citizens Property Insurance Corp., which is trying to reduce its number of policies and exposure. The number of mobile home policies with Citizens has increased nearly 10% in the past year, partly due to AMIE’s cancellations and other insurers’ limitations.
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