Talk of The Villages Florida - View Single Post - Do you have sinkhole and flood insurance?
Thread: Do you have sinkhole and flood insurance?
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Old 06-23-2022, 04:55 PM
retiredguy123 retiredguy123 is offline
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Originally Posted by bsloan1960 View Post
Just wondering if these are a real threat. They significantly increase the premium.

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All homeowners policies in Florida must include "catastrophic ground collapse" coverage. That coverage will only apply if your house is damaged and it is condemned and deemed uninhabitable by the local Government. Also, some insurance companies may offer an optional "sinkhole" coverage that will cover any damage to your property caused by a sinkhole. If you can get the sinkhole coverage, it is probably a good idea, but not all properties are eligible.

Flood insurance is a Federal Government subsidized insurance program for damage caused by rising water. In my opinion, flood insurance is not needed in The Villages. But, it is a good idea to get an optional rider to your homeowners insurance that will cover damage from a sewer line backup.