Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
#16
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Before you get to happy and sign up for SINK HOLE INSURANCE.. first the hole in the ground must be investigated by the Insurance
Company to make sure it was actually a sink hole... maybe investigated by State of Florida to call it a sink hole... and possible outside agency to name it an actual sink hole.... then find out while all along you will be paying for the premium... you may/will be charged a huge deductible in the tens of thousands... actually ask your agent what you will pay before you are paid... and finally most likely it will never be classified as a 'SINK HOLE" AND MORE THAN LIKELY BE CALLED A CATASTROPHIC EVENT" AND NOT A SINK HOLE.. SO DO YOUR HOMEWORK ON THIS ONE.. An Insurance agent passed this bit of information along to me.. |
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#17
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My policy has sinkhole coverage with a deductible of 10 percent of the property value. So, I am covered for 90 percent of the value of the house. Apparently, there is no way to predict where or when a sinkhole will occur, but Florida has more sinkhole events then any other state. The number of sinkholes is increasing in Florida. Also, many sinkholes are man-made and the result property development and removing water from the ground. The actual definition of what is a sinkhole vs a catastrophic ground collapse seems to be very confusing, but I am happy that I am covered either way.
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#18
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#19
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The deductible is typically 10%. You many find lower values if you shop around, for example State Farm.
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#20
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My coverage is through The Villages Insurance and the insurance policy is with ASI.
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#21
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Retiredguy123 Thanks, Bill
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Closed Thread |
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