Wednesday, March 20, 2013



FORT PIERCE, Florida - Citizens Insurance Company is the insurer of last resort here in Florida which means when no other insurance company is willing to insure their car or home, residents can be guaranteed coverage through Citizens. If you are one of the thousands of mobile home owners who Citizens insures throughout the State of Florida, being protected from fire, windstorm and other disasters to your residence is a necessity. However, many of these mobile home owners face loss of coverage due to a program whereby Citizens Insurance Company won't renew policies of mobile homes whose values fall below a certain threshold. What has become controversial is the method by which Citizens evaluates the worth of these units. Instead of determining fair market value through the use of comparables, the insurer uses a depreciation table. On this basis, thousands of older mobile homes have been judged to be worth less than the threshold that Citizens is willing to insure. As a licensed personal property appraiser, I wouldn't use the rules of depreciation to place a value on a 1967 Corvette or a 1967 John Deere tractor so why employ it to evaluate a 1967 Marlette manufactured home?

Mobile homes are not real estate, rather, they are classified as personal property. But just as in real estate, personal property appraisals are almost always based on comparables. Depreciation schedules work fine on newer items of personal property that are subject to wear and tear. However, once an item reaches the end of its projected life span, if it is still deemed useful, depreciation should no longer apply. Fair market value is determined by comparable sales and overall condition of the mobile home. But Citizens has cleverly devised the most effective method to date of devaluing them - by rendering them uninsurable.

Our service area includes St. Lucie, Martin, Indian River, Brevard, Palm Beach, Broward and Dade Counties. Cities include Fort Pierce, Port St. Lucie, Stuart, Palm City, Jensen Beach, Hobe Sound, Jupiter, Palm Beach Gardens, West Palm Beach, Lake Worth, Boynton Beach, Delray Beach, Boca Raton, Deerfield Beach, Coral Springs, Coconut Creek, Pompano Beach, Tamarac, Sunrise, Lauderhill, Plantation, Fort Lauderdale, Davie, Pembroke Pines, Miramar, Hollywood, Hallandale, Miami, Opa Locka, Hialeah, Coral Gables, Kendall and Homestead.

Diminished Value Appraisals throughout Florida including, Miami, Fort Lauderdale, Tampa, Jacksonville, Orlando, Pensacola, Fort Myers, Sarasota, Port Charlotte, Clearwater, Kissimmee, Melbourne, Daytona Beach, Ocala, Gainsville, Bradenton, Titusville, Panama City, Bonita Springs, Naples, St. Petersburg and Tallahassee.

Our rates for services are as follows:

Auto Appraisals (Donations, Bankruptcy, Divorce, Insurance Disputes) $175.00

Stated Value Appraisals (Antique & Classic Cars, Street Rods, Motorcycles, RVs, Trucks) $175.00

Diminished Value Appraisals (Determines how much less your car is worth after accident repairs) $275.00

Personal Property Appraisals (Contents, Collectibles, Art, Antiques) $225.00

Mobile and Manufactured Home Evaluations $325.00

All other services and additional time when necessary  $75/Hr.

You may obtain appraisals for Charitable Donation Tax Credits, Collateral, Damage Claims, Equitable Distribution, Bankruptcy, Estates, Insurance, Purchase & Sale and Diminished Value.

Appraisals of Personal Property, Art, Antiques, Furs, Musical Instruments, Boats, Classic & Custom Autos, Collectibles and Memorabilia, Electronics, Machinery, Mobile Homes, Motorcycles & Choppers, Furnishings, RVs, Trucks & Heavy Equipment. Business Valuations specializing in all types of small businesses.

The St. Lucie Appraisal Company
P.O. Box 2700
Fort Pierce, FL 34954
Phone: (772) 359-4300
Fax: (772) 466-8400


Keywords for this article: (772) 359-4300, APPRAISAL, APPRAISER, Citizens, depreciation, fair market value, FLORIDA, insurance, manufactured home, mobile home, PERSONAL PROPERTY, St Lucie Appraisal Company, value

Updated 06-16-2013
Updated 06-20-2013