Raising Value of Homeowners Insurance

What is the name of your state? Arkansas
We have a 28X56 doublewide home on little over 1 acrea of property we own.
We are in the process of refinancing, we had a appraiser come out and it
was valued at $75,000 which includes the land and property. I got a phone
call my loan officer left me a voice mail message saying the insurance companty I am currently with will not raise up the value of our home and
he wants me to call them Monday and try it has to be at least $58,000 on
the home itself. I don't know what the insurance companty is going by and
we now feel the value of our home was not adequate and it was underinsured
which could mean we would not receive the full benefits available under the
policy should we have a total loss I got to looking on my policy it said
Mobilehome Comprehensive $35,000, Adjacent Structures & equiptment
$500, Personal effects theft included $8,750, Comprehensive Personal
Liab $25,000, medical payments $500, Damage to property of others
$250 so what can I do? I want prepare myself before I call the insurance
companty.

Debbie Fleming

I update my insurance yearly to keep up with improvements and the rise of property values. It increases my coverages and my premium. An appraisal spells out value and the insurance company should like that. But it really depends on the company. If I were you I would call the insurance agent/company and tell them about the appraisal and that your insurance needs updating.

Mobile home policies are different than homeowner's policies. MH or DW depreciate in value. Also you can not insure the land cause it is going no where.