Quote:
Originally Posted by outlaw
I would not let sinkhole insurance coverage drive my purchase decision. ALL homeowner policies in Florida have catastrophic collapse insurance, which covers sinkholes that threaten the house. It goes into effect once a house is deemed uninhabitable/unsafe. The "sinkhole" insurance covers sinkholes that appear on your lot, but does not affect home safety. At least, this is my understanding.
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I’m a big believer in insurance. It has saved many from bankruptcy. I spoke to The Villages Ins. and there is quite a bit to what the comprehensive sinkhole insurance covers.
The insurance agent is going to email the zip codes I need to avoid. There are zip codes where I cannot get comprehensive sinkhole insurance on any resale period. BTW, anyone have any concern that insurance companies, who are in the business of making money, will not insure certain zip codes? I may have to narrow my search to 32163, but the agent has not emailed me yet. Apparently that zip code is ok. However, there are insurance companies that will insure anyone for anything at any location, for a price. But I don’t want to pay the equivalent of a mortgage payment for insurance. Also, I’m not a rich man. I cannot risk an investment of this size just because I like the squares and the Eisenhower rec center. If the insurance companies find my home too risky to insure, I’ll find something in AZ.
This TV trip was more about getting an overall feel for the community, which I love. I only spent 1.5 days looking at houses. I picked up a 2016 detailed street map the sales office was selling. Now, when I talk to the RE agent I’ll be able to see the exact location he’s talking about. My next TV visit will be more focused on real estate. I’ll get detailed insurance info once I find a village I want to build in or a resale that fits my needs. Stuff for the next trip.
I want to thank you and the others here on TOTV. If it weren’t for the support I’ve received here, I would have taken a pass after the first program I watched about central FL sinkholes. After watching the second (frightening) program on central FL sinkholes I was ready to run from TV. TOTV has showed me that people spend many years here without any indication of any sh problem. But if I get to the point where an insurance company tells me I wouldn’t insure that home at any price, please don’t fault me for wanting to go elsewhere.