Quote:
Originally Posted by Villagevip
How about a VILLAGE CO-OP SINKHOLE FUND? Every Villager that desires to be covered in the SINKHOLE CO-OP deposit $200.00 (?) annually into a bank controlled escrow.. Discover a sinkhole on your property, owners will be fully financially covered for all the work to be done, no ifs, maybes, or buts..This program, would have to have a lot of interest, and participation of concerned Villagers.  Sinkhole insurance policies have caveats, large deductibles..Some say, not worth it..
P.S. Regulations? Just go into the participating (developers?) bank, deposit your money..Get on the list, and sleep at night...If not feasible, plan B... Village home owners "donate" $10.00 into a banks Sinkhole Escrow Fund,..Like a local "Go Fund Me" automatic activation, no asking...The Villages "YOU ARE NOT ALONE" program..This program, would cover EVERY VILLAGE HOME OWNER, wealthy or not...
|
I hate to be the one throwing cold water on this idea...but I can't imagine how this might even work.
Will there be a board of some type that will make the determination...on who will get reimbursed for a claim?
And don't forget to ask for funds for a legal team also...including personal coverage for those who will be responsible for determining claims.
At some point, when someone is denied a claim (by whomever)...I'm pretty sure that they won't be happy.
IMHO, I don't see it as having a chance in heck of working.
