Sinkhole insurance might be misunderstood by many people. Home owner policies cover catastrophic sinkhole damage (i.e. your house is no longer inhabitable). The optional "other" sinkhole insurance is for sinkhole damage that does not render your house uninhabitable and typically has a high deductible (10% of the home value), although State Farm has a policy where the normal deductible applies. As with all insurance, you make a decision as to whether you can financially handle the relatively rare event of a sinkhole (self insure). With the exception of auto liability insurance and home owners insurance if you have a mortgage, nobody is forcing you to buy insurance.
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Originally Posted by Topspinmo
One company I was getting estimate from didn't have sinkhole insurance, went somewhere else that did. IMO She maybe right, just if you can afford the rate or whether it's worth the paper it writing on?? Insurance one of the biggest legalized Racketeering there is. The lobbyists really pay good to get laws passed in there favor.
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